Saia (NASDAQ:SAIA) Price Target Cut to $565.00 by Analysts at Bank of America

Saia (NASDAQ:SAIA - Free Report) had its price target cut by Bank of America from $600.00 to $565.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the transportation company's stock.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets increased their price objective on shares of Saia from $465.00 to $495.00 and gave the company a "market perform" rating in a research note on Monday, October 28th. Stifel Nicolaus raised their price target on shares of Saia from $443.00 to $529.00 and gave the stock a "hold" rating in a research note on Thursday, January 23rd. Jefferies Financial Group upped their price objective on Saia from $525.00 to $560.00 and gave the company a "buy" rating in a research note on Friday, January 10th. Stephens raised their target price on Saia from $481.00 to $515.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 29th. Finally, Wolfe Research raised Saia from a "peer perform" rating to an "outperform" rating and set a $511.00 price target on the stock in a research note on Wednesday, October 9th. 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 stock. According to MarketBeat.com, Saia currently has a consensus rating of "Moderate Buy" and a consensus price target of $535.41.

Saia Stock Performance

SAIA stock traded down $18.96 during trading on Tuesday, reaching $489.51. 274,761 shares of the stock were exchanged, compared to its average volume of 393,418. Saia has a twelve month low of $358.90 and a twelve month high of $628.34. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $13.02 billion, a P/E ratio of 34.97, a price-to-earnings-growth ratio of 2.31 and a beta of 1.79. The stock has a 50 day simple moving average of $492.66 and a 200-day simple moving average of $462.24.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $789.00 million during the quarter, compared to the consensus estimate of $794.69 million. Saia had a return on equity of 18.00% and a net margin of 11.83%. Saia's revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.33 EPS. As a group, sell-side analysts anticipate that Saia will post 13.47 earnings per share for the current year.

Insider Activity at Saia

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

Institutional Trading of Saia

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Artemis Investment Management LLP grew its position in shares of Saia by 72.9% during the 4th quarter. Artemis Investment Management LLP now owns 249,782 shares of the transportation company's stock worth $113,833,000 after buying an additional 105,356 shares during the period. Raymond James Financial Inc. bought a new position in Saia in the fourth quarter valued at approximately $46,514,000. Stephens Investment Management Group LLC acquired a new stake in Saia during the 4th quarter worth $45,767,000. Allspring Global Investments Holdings LLC raised its position in shares of Saia by 64.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 250,626 shares of the transportation company's stock valued at $109,589,000 after acquiring an additional 98,383 shares during the last quarter. Finally, Wasatch Advisors LP raised its position in shares of Saia by 10.2% during the 3rd quarter. Wasatch Advisors LP now owns 692,405 shares of the transportation company's stock valued at $302,761,000 after acquiring an additional 64,351 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.