Barclays Has Lowered Expectations for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA - Free Report) had its target price lowered by Barclays from $535.00 to $475.00 in a research note released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the transportation company's stock.

Several other research analysts have also recently weighed in on SAIA. Cowen reaffirmed a "hold" rating on shares of Saia in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on Saia from $566.00 to $558.00 and set an "overweight" rating on the stock in a research note 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 report on Thursday, December 12th. Raymond James lowered their target price on shares of Saia from $560.00 to $540.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 4th. Finally, TD Cowen boosted their price target on shares of Saia from $456.00 to $478.00 and gave the stock a "hold" rating in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $507.50.

Remove Ads

Saia Stock Down 0.8 %

SAIA stock traded down $2.47 during midday trading on Wednesday, reaching $319.91. 490,370 shares of the company's stock traded hands, compared to its average volume of 443,466. Saia has a 52 week low of $287.50 and a 52 week high of $624.55. The company has a market cap of $8.52 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 2.24 and a beta of 1.99. The firm's fifty day moving average price is $416.37 and its 200-day moving average price is $461.87. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 0.08.

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

Insiders Place Their Bets

In related news, CAO Kelly W. Benton sold 460 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.00, for a total value of $230,000.00. Following the transaction, the chief accounting officer now owns 4,287 shares in the company, 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 SEC, which is available at this hyperlink. Also, CEO Frederick J. Holzgrefe III sold 7,534 shares of Saia stock in a transaction on Monday, February 10th. The stock was sold at an average price of $487.34, for a total value of $3,671,619.56. Following the completion of the sale, the chief executive officer now directly owns 17,645 shares of the company's stock, valued at approximately $8,599,114.30. The trade was a 29.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,493 shares of company stock worth $4,646,181 over the last three months. Company insiders own 0.30% of the company's stock.

Institutional Investors Weigh In On Saia

Several institutional investors and hedge funds have recently modified their holdings of SAIA. Alliancebernstein L.P. lifted its stake in shares of Saia by 69.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,939,615 shares of the transportation company's stock valued at $883,941,000 after purchasing an additional 794,197 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in Saia by 24,815.0% during the fourth quarter. Balyasny Asset Management L.P. now owns 372,728 shares of the transportation company's stock valued at $169,863,000 after acquiring an additional 371,232 shares during the last quarter. Select Equity Group L.P. purchased a new position in Saia during the 4th quarter worth $137,199,000. Interval Partners LP acquired a new position in shares of Saia during the fourth quarter valued at about $89,229,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Saia by 76.2% during the fourth quarter. Ameriprise Financial Inc. now owns 355,929 shares of the transportation company's stock worth $162,213,000 after buying an additional 153,896 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.