Saia (NASDAQ:SAIA) Price Target Cut to $360.00 by Analysts at Susquehanna

Saia (NASDAQ:SAIA) had its price objective lowered by equities researchers at Susquehanna from $412.00 to $360.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the transportation company’s stock. Susquehanna’s price target points to a potential upside of 4.54% from the stock’s previous close.

Several other equities research analysts have also issued reports on SAIA. Morgan Stanley dropped their price objective on Saia from $295.00 to $285.00 and set an “underweight” rating for the company in a research note on Friday, July 31st. Bank of America reissued a “buy” rating on shares of Saia in a report on Friday, September 4th. JPMorgan Chase & Co. lowered their target price on shares of Saia from $498.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday, September 4th. Raymond James Financial decreased their price target on shares of Saia from $477.00 to $475.00 and set an “outperform” rating on the stock in a report on Monday, July 13th. Finally, Citigroup cut their price objective on Saia from $423.00 to $417.00 and set a “buy” rating for the company in a report on Tuesday, September 8th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Saia has an average rating of “Moderate Buy” and a consensus price target of $442.58.

Saia Stock Performance

NASDAQ:SAIA opened at $344.38 on Friday. The business’s fifty day moving average is $356.86 and its 200 day moving average is $399.18. The firm has a market cap of $9.18 billion, a price-to-earnings ratio of 33.24, a PEG ratio of 2.69 and a beta of 2.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.58 and a current ratio of 1.58. Saia has a 52-week low of $249.32 and a 52-week high of $494.71.

Saia (NASDAQ:SAIA) last released its quarterly earnings data on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.38 by $0.13. The company had revenue of $956.49 million during the quarter, compared to analyst estimates of $956.20 million. Saia had a net margin of 8.19% and a return on equity of 10.21%. Saia’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business earned $2.67 earnings per share. Research analysts predict that Saia will post 11.43 EPS for the current year.

Institutional Investors Weigh In On Saia

Several institutional investors and hedge funds have recently modified their holdings of SAIA. Wealth Alliance LLC increased its position in shares of Saia by 5.1% during the first quarter. Wealth Alliance LLC now owns 763 shares of the transportation company’s stock worth $268,000 after acquiring an additional 37 shares during the period. Handelsbanken Fonder AB grew its stake in Saia by 0.5% in the second quarter. Handelsbanken Fonder AB now owns 8,858 shares of the transportation company’s stock worth $3,731,000 after purchasing an additional 40 shares in the last quarter. Eagle Bay Advisors LLC increased its holdings in Saia by 7.4% during the 2nd quarter. Eagle Bay Advisors LLC now owns 638 shares of the transportation company’s stock worth $269,000 after purchasing an additional 44 shares during the period. Sheets Smith Wealth Management raised its position in Saia by 2.0% during the 2nd quarter. Sheets Smith Wealth Management now owns 2,687 shares of the transportation company’s stock valued at $1,132,000 after purchasing an additional 52 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its position in Saia by 360.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 54 shares in the last quarter.

Saia Company Profile

Saia, Inc is a transportation and logistics company headquartered in Johns Creek, Georgia. Its primary business is less-than-truckload (LTL) freight transportation, serving shippers whose shipments do not require a full truck. Through its Saia LTL Freight subsidiary, the company provides regional and interregional freight services, including standard, expedited and time-definite delivery options.

Saia also provides third-party logistics services through Saia Logistics Services. These offerings can include the coordination of truckload, LTL, intermodal and other transportation solutions, allowing customers to manage a broader range of shipping needs through one provider.

The company traces its history to 1924, when it began operations in Louisiana.