Saia (NASDAQ:SAIA) Shares Down 5.5% – Here’s Why

Shares of Saia, Inc. (NASDAQ:SAIA) fell 5.5% on Wednesday . The stock traded as low as $438.30 and last traded at $431.8490. 322,050 shares were traded during mid-day trading, a decline of 37% from the average session volume of 507,539 shares. The stock had previously closed at $457.02.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SAIA. BMO Capital Markets increased their price objective on Saia from $450.00 to $470.00 and gave the company a “market perform” rating in a report on Thursday, June 4th. Wall Street Zen raised shares of Saia from a “sell” rating to a “hold” rating in a report on Monday, May 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $441.00 target price on shares of Saia in a report on Thursday, April 30th. Morgan Stanley reaffirmed an “underweight” rating and issued a $265.00 target price on shares of Saia in a report on Friday, May 1st. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $477.00 target price on shares of Saia in a report on Friday, May 1st. Nine research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Saia currently has an average rating of “Hold” and an average price target of $454.00.

Saia Stock Down 6.1%

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.52 and a current ratio of 1.52. The firm has a fifty day moving average price of $445.60 and a 200 day moving average price of $385.86. The firm has a market capitalization of $11.44 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 2.26 and a beta of 2.10.

Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.04. The business had revenue of $806.23 million during the quarter, compared to the consensus estimate of $789.08 million. Saia had a net margin of 7.84% and a return on equity of 9.60%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 EPS. As a group, sell-side analysts expect that Saia, Inc. will post 11.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Saia

A number of institutional investors and hedge funds have recently modified their holdings of the company. Alliancebernstein L.P. grew its holdings in shares of Saia by 35.4% in the 3rd quarter. Alliancebernstein L.P. now owns 2,273,396 shares of the transportation company’s stock worth $680,564,000 after acquiring an additional 594,674 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Saia by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,798,841 shares of the transportation company’s stock worth $587,358,000 after acquiring an additional 43,690 shares during the period. Capital International Investors boosted its position in shares of Saia by 0.8% in the 3rd quarter. Capital International Investors now owns 1,419,062 shares of the transportation company’s stock worth $424,794,000 after buying an additional 11,454 shares in the last quarter. Viking Global Investors LP boosted its position in shares of Saia by 67.2% in the 3rd quarter. Viking Global Investors LP now owns 1,383,888 shares of the transportation company’s stock worth $414,281,000 after buying an additional 556,229 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Saia by 31.7% in the 4th quarter. Invesco Ltd. now owns 923,912 shares of the transportation company’s stock worth $301,676,000 after buying an additional 222,494 shares in the last quarter.

Saia Company Profile

Saia, Inc is a publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America. Headquartered in Johns Creek, Georgia, the company focuses on the efficient movement of time-sensitive freight for a diverse customer base that spans retail, manufacturing, automotive, and healthcare industries. By leveraging a network of terminals and service centers, Saia provides tailored solutions designed to optimize supply chain performance.

The company’s core offerings include regional, interregional, and national LTL shipping, supported by volumetric LTL and port intermodal services.