Bank of America Lowers Saia (NASDAQ:SAIA) Price Target to $484.00

Saia (NASDAQ:SAIA) had its target price cut by analysts at Bank of America from $565.00 to $484.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective indicates a potential upside of 24.88% from the company’s previous close.

Several other analysts also recently weighed in on the stock. Raymond James dropped their target price on shares of Saia from $560.00 to $540.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Barclays dropped their price target on Saia from $620.00 to $600.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Cowen reaffirmed a “hold” rating on shares of Saia in a report on Tuesday, February 4th. JPMorgan Chase & Co. reduced their price objective on Saia from $566.00 to $558.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Finally, Susquehanna upped their target price on Saia from $530.00 to $540.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $527.65.

Saia Stock Down 2.4 %

Shares of SAIA stock traded down $9.56 during trading hours on Wednesday, reaching $387.58. 178,803 shares of the company’s stock were exchanged, compared to its average volume of 400,867. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 0.08. The company has a market cap of $10.32 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 2.24 and a beta of 1.79. Saia has a fifty-two week low of $358.90 and a fifty-two week high of $628.34. The stock’s 50 day moving average is $467.30 and its 200-day moving average is $468.40.

Saia (NASDAQ:SAIA) last released its quarterly earnings results on Friday, February 7th. The transportation company reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.03). The business had revenue of $789.00 million during the quarter, compared to analysts’ expectations of $794.69 million. Saia had a net margin of 11.28% and a return on equity of 16.63%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $3.33 earnings per share. Analysts predict that Saia will post 15.46 earnings per share for the current fiscal year.

Insider Activity at Saia

In other Saia news, EVP Patrick D. Sugar sold 799 shares of Saia stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $493.74, for a total transaction of $394,498.26. Following the sale, the executive vice president now directly owns 8,629 shares in the company, valued at $4,260,482.46. The trade was a 8.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Frederick J. Holzgrefe III sold 7,534 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $487.34, for a total transaction of $3,671,619.56. Following the transaction, the chief executive officer now directly owns 17,645 shares in the company, valued at $8,599,114.30. The trade was a 29.92 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,493 shares of company stock worth $4,646,181. 0.30% of the stock is currently owned by company insiders.

Institutional Trading of Saia

Several institutional investors and hedge funds have recently bought and sold shares of SAIA. Kestra Investment Management LLC acquired a new stake in shares of Saia during the 4th quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Saia by 172.7% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60 shares of the transportation company’s stock worth $28,000 after buying an additional 38 shares during the last quarter. Atala Financial Inc acquired a new position in shares of Saia in the 4th quarter valued at about $36,000. Huntington National Bank grew its position in shares of Saia by 291.7% during the 4th quarter. Huntington National Bank now owns 94 shares of the transportation company’s stock valued at $43,000 after buying an additional 70 shares during the last quarter. Finally, Tortoise Investment Management LLC grew its holdings in shares of Saia by 76.6% during the fourth quarter. Tortoise Investment Management LLC now owns 113 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 49 shares during the last quarter.

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.