Bank of America Has Lowered Expectations for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA) had its price target trimmed by Bank of America from $600.00 to $565.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the transportation company’s stock.

A number of other equities research analysts have also issued reports on SAIA. Jefferies Financial Group boosted their price target on shares of Saia from $525.00 to $560.00 and gave the company a “buy” rating in a report on Friday, January 10th. Susquehanna restated a “neutral” rating and issued a $530.00 target price (down previously from $565.00) on shares of Saia in a report on Tuesday, January 7th. BMO Capital Markets raised their target price on Saia from $465.00 to $495.00 and gave the stock a “market perform” rating in a research report on Monday, October 28th. The Goldman Sachs Group upped their price target on Saia from $492.00 to $563.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Finally, Barclays decreased their price objective on Saia from $620.00 to $600.00 and set an “overweight” rating for the company in a research report on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Saia has an average rating of “Moderate Buy” and a consensus price target of $535.41.

Saia Stock Performance

SAIA opened at $508.47 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. The firm has a market cap of $13.52 billion, a PE ratio of 36.32, a P/E/G ratio of 2.31 and a beta of 1.79. The business has a fifty day simple moving average of $492.66 and a 200-day simple moving average of $462.24. Saia has a fifty-two week low of $358.90 and a fifty-two week high of $628.34.

Saia (NASDAQ:SAIA) last released its quarterly earnings results on Friday, February 7th. The transportation company reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.03). The company had revenue of $789.00 million during the quarter, compared to analyst estimates of $794.69 million. Saia had a net margin of 11.83% and a return on equity of 18.00%. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $3.33 EPS. As a group, equities analysts predict that Saia will post 13.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Rohit Lal sold 1,120 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $560.00, for a total value of $627,200.00. Following the transaction, the executive vice president now owns 8,270 shares in the company, valued at approximately $4,631,200. This represents a 11.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Saia

A number of large investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Saia by 3.1% during the third quarter. State Street Corp now owns 805,597 shares of the transportation company’s stock worth $352,255,000 after purchasing an additional 24,351 shares during the period. Wasatch Advisors LP boosted its position in Saia by 10.2% during the third quarter. Wasatch Advisors LP now owns 692,405 shares of the transportation company’s stock worth $302,761,000 after purchasing an additional 64,351 shares during the period. Geode Capital Management LLC boosted its position in Saia by 1.4% during the third quarter. Geode Capital Management LLC now owns 471,667 shares of the transportation company’s stock worth $206,292,000 after purchasing an additional 6,456 shares during the period. Westfield Capital Management Co. LP boosted its position in Saia by 11.8% during the third quarter. Westfield Capital Management Co. LP now owns 303,582 shares of the transportation company’s stock worth $132,744,000 after purchasing an additional 31,991 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in Saia by 4.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 261,803 shares of the transportation company’s stock worth $116,670,000 after purchasing an additional 11,177 shares during the period.

About Saia

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.