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

Saia (NASDAQ:SAIA - Get Free Report) had its price objective dropped by equities researchers at Bank of America from $565.00 to $484.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the transportation company's stock. Bank of America's target price would suggest a potential upside of 28.75% from the stock's current price.

Several other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Saia from $566.00 to $558.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 4th. Barclays cut their price objective on Saia from $620.00 to $600.00 and set an "overweight" rating on the stock in a research report on Friday, January 17th. Raymond James cut their price objective on Saia from $560.00 to $540.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 4th. The Goldman Sachs Group boosted their price objective on Saia from $492.00 to $563.00 and gave the stock a "neutral" rating in a research report on Thursday, December 12th. Finally, TD Cowen upped their price target on Saia from $456.00 to $478.00 and gave the company a "hold" rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Saia currently has an average rating of "Moderate Buy" and an average price target of $530.00.

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Saia Stock Down 1.7 %

Shares of NASDAQ SAIA traded down $6.69 during midday trading on Wednesday, hitting $375.92. 458,604 shares of the stock traded hands, compared to its average volume of 402,979. The company has a market cap of $10.01 billion, a PE ratio of 27.83, a P/E/G ratio of 2.24 and a beta of 1.89. Saia has a one year low of $358.90 and a one year high of $624.55. The business has a 50 day moving average price of $461.82 and a two-hundred day moving average price of $468.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.57.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings results on Friday, February 7th. The transportation company reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.03). Saia had a return on equity of 16.63% and a net margin of 11.28%. The company had revenue of $789.00 million for the quarter, compared to the consensus estimate of $794.69 million. During the same quarter last year, the company posted $3.33 EPS. The company's quarterly revenue was up 5.0% compared to the same quarter last year. On average, equities analysts predict that Saia will post 15.46 EPS for the current year.

Insider Activity at Saia

In related news, EVP Patrick D. Sugar sold 799 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $493.74, for a total transaction of $394,498.26. Following the completion of the sale, the executive vice president now directly owns 8,629 shares in the company, valued at $4,260,482.46. This represents a 8.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frederick J. Holzgrefe III sold 7,534 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $487.34, for a total value of $3,671,619.56. Following the sale, the chief executive officer now owns 17,645 shares of the company's stock, valued at $8,599,114.30. This represents a 29.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,493 shares of company stock worth $4,646,181. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Saia

Institutional investors and hedge funds have recently bought and sold shares of the business. Oddo BHF Asset Management Sas purchased a new stake in Saia in the 3rd quarter worth approximately $1,408,000. Highview Capital Management LLC DE purchased a new stake in Saia in the 4th quarter worth approximately $1,324,000. Y Intercept Hong Kong Ltd purchased a new stake in Saia in the 4th quarter worth approximately $3,363,000. Legato Capital Management LLC lifted its holdings in Saia by 100.6% in the 4th quarter. Legato Capital Management LLC now owns 1,565 shares of the transportation company's stock worth $713,000 after buying an additional 785 shares during the period. Finally, MML Investors Services LLC lifted its holdings in Saia by 89.8% in the 3rd quarter. MML Investors Services LLC now owns 4,313 shares of the transportation company's stock worth $1,886,000 after buying an additional 2,041 shares during the period.

Saia Company Profile

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.