Wolfe Research cut shares of Saia, Inc. (NASDAQ:SAIA) from an outperform rating to a market perform rating in a research note issued to investors on Friday, October 6th, The Fly reports.
SAIA has been the topic of a number of other reports. BidaskClub downgraded shares of Saia from a buy rating to a hold rating in a research report on Tuesday, August 1st. ValuEngine cut Saia from a buy rating to a hold rating in a research note on Monday, October 2nd. Morgan Stanley increased their target price on Saia from $32.00 to $34.00 and gave the stock an equal weight rating in a research note on Thursday, October 5th. Stifel Nicolaus reissued a hold rating and set a $53.00 target price on shares of Saia in a research note on Thursday, September 21st. Finally, Cowen and Company reissued a hold rating and set a $55.00 target price on shares of Saia in a research note on Friday, September 8th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $50.33.
Saia (NASDAQ:SAIA) opened at 58.15 on Friday. Saia has a 52-week low of $28.57 and a 52-week high of $63.05. The stock has a market capitalization of $1.47 billion, a P/E ratio of 28.21 and a beta of 0.85. The stock has a 50 day moving average of $59.14 and a 200 day moving average of $51.52.
Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Friday, July 28th. The transportation company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.06. The business had revenue of $358.20 million for the quarter, compared to the consensus estimate of $348.53 million. Saia had a net margin of 4.12% and a return on equity of 10.84%. Saia’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period last year, the company posted $0.52 EPS. On average, equities research analysts forecast that Saia will post $2.17 EPS for the current year.
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In other news, Director Herbert A. Trucksess III sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $54.33, for a total transaction of $814,950.00. Following the completion of the transaction, the director now directly owns 183,442 shares of the company’s stock, valued at approximately $9,966,403.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John J. Holland sold 1,618 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $56.21, for a total transaction of $90,947.78. Following the transaction, the director now directly owns 1,028 shares of the company’s stock, valued at $57,783.88. The disclosure for this sale can be found here. Insiders have sold a total of 74,576 shares of company stock valued at $4,053,452 over the last ninety days. Company insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAIA. Wells Fargo & Company MN boosted its holdings in shares of Saia by 35.4% in the 1st quarter. Wells Fargo & Company MN now owns 23,369 shares of the transportation company’s stock valued at $1,035,000 after buying an additional 6,113 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Saia by 6.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 34,020 shares of the transportation company’s stock valued at $1,507,000 after buying an additional 2,063 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Saia by 4.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 6,816 shares of the transportation company’s stock valued at $302,000 after buying an additional 306 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Saia in the 1st quarter valued at approximately $663,000. Finally, Sei Investments Co. boosted its holdings in shares of Saia by 7.9% in the 1st quarter. Sei Investments Co. now owns 40,293 shares of the transportation company’s stock valued at $1,785,000 after buying an additional 2,952 shares during the last quarter. 96.98% of the stock is owned by institutional investors.
Saia, Inc is a transportation company. The Company provides regional and interregional less-than-truckload (LTL) services. The Company also offers a range of other value-added services, including non-asset truckload, expedited and logistics services across the United States. The Company’s subsidiary Saia Motor Freight Line, LLC (Saia LTL Freight) is a LTL carrier.
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