Citigroup Issues Pessimistic Forecast for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA - Get Free Report) had its price objective reduced by equities research analysts at Citigroup from $498.00 to $435.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the transportation company's stock. Citigroup's target price would indicate a potential upside of 31.67% from the stock's previous close.

Several other equities analysts have also recently commented on SAIA. Cowen restated a "hold" rating on shares of Saia in a research report on Tuesday, February 4th. Raymond James reduced their price objective on Saia from $540.00 to $455.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. lowered their target price on Saia from $566.00 to $558.00 and set an "overweight" rating for the company in a research note on Tuesday, February 4th. Bank of America reduced their price target on shares of Saia from $565.00 to $484.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Finally, Susquehanna lowered their price objective on shares of Saia from $540.00 to $410.00 and set a "neutral" rating for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, Saia currently has an average rating of "Moderate Buy" and an average price target of $486.83.

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Saia Price Performance

NASDAQ:SAIA traded down $21.08 during trading hours on Tuesday, reaching $330.37. 850,394 shares of the company were exchanged, compared to its average volume of 453,982. The business has a 50 day moving average of $396.39 and a 200 day moving average of $456.78. Saia has a 1-year low of $287.50 and a 1-year high of $624.55. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.57 and a quick ratio of 1.26. The company has a market capitalization of $8.80 billion, a P/E ratio of 24.45, a P/E/G ratio of 2.24 and a beta of 1.99.

Saia (NASDAQ:SAIA - Get Free Report) last released its 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). The company had revenue of $789.00 million for the quarter, compared to analyst estimates of $794.69 million. Saia had a return on equity of 16.63% and a net margin of 11.28%. The business's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period last year, the company posted $3.33 earnings per share. Research analysts forecast that Saia will post 15.46 EPS for the current year.

Insider Buying and Selling

In other news, CAO Kelly W. Benton sold 460 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.00, for a total value of $230,000.00. Following the transaction, the chief accounting officer now directly owns 4,287 shares of the company's stock, valued at $2,143,500. The trade was a 9.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick D. Sugar sold 799 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $493.74, for a total value of $394,498.26. Following the sale, the executive vice president now owns 8,629 shares in the company, valued at approximately $4,260,482.46. The trade was a 8.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,493 shares of company stock valued at $4,646,181 over the last ninety days. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Saia

Several institutional investors have recently added to or reduced their stakes in SAIA. EverSource Wealth Advisors LLC increased its stake in shares of Saia by 3.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 744 shares of the transportation company's stock valued at $339,000 after acquiring an additional 26 shares in the last quarter. Core Wealth Advisors Inc. grew its holdings in Saia by 3.9% in the fourth quarter. Core Wealth Advisors Inc. now owns 700 shares of the transportation company's stock worth $319,000 after purchasing an additional 26 shares during the period. Arizona State Retirement System increased its stake in Saia by 0.4% in the fourth quarter. Arizona State Retirement System now owns 7,685 shares of the transportation company's stock valued at $3,502,000 after purchasing an additional 29 shares in the last quarter. Heritage Family Offices LLP raised its holdings in shares of Saia by 4.1% during the first quarter. Heritage Family Offices LLP now owns 741 shares of the transportation company's stock valued at $259,000 after purchasing an additional 29 shares during the period. Finally, Avantax Advisory Services Inc. grew its stake in shares of Saia by 4.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 678 shares of the transportation company's stock valued at $309,000 after buying an additional 30 shares during the period.

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.