Bank of America Has Lowered Expectations for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA) had its target price cut by analysts at Bank of America from $565.00 to $484.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price target would indicate a potential upside of 26.50% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group increased their price objective on shares of Saia from $525.00 to $560.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Raymond James lowered their price objective on shares of Saia from $560.00 to $540.00 and set an “outperform” rating for the company in a research report on Tuesday, February 4th. Cowen reissued a “hold” rating on shares of Saia in a research report on Tuesday, February 4th. Wells Fargo & Company lowered their price objective on shares of Saia from $550.00 to $510.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 4th. Finally, Susquehanna increased their price objective on shares of Saia from $530.00 to $540.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $527.65.

Saia Stock Down 3.2 %

Shares of NASDAQ:SAIA opened at $382.61 on Wednesday. Saia has a 52 week low of $358.90 and a 52 week high of $624.55. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.57. The company has a market capitalization of $10.19 billion, a PE ratio of 28.32, a PEG ratio of 2.24 and a beta of 1.79. The company has a 50 day moving average price of $465.68 and a two-hundred day moving average price of $467.89.

Saia (NASDAQ:SAIA) last issued its earnings results on Friday, February 7th. The transportation company reported $2.84 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.03). Saia had a net margin of 11.28% and a return on equity of 16.63%. The firm had revenue of $789.00 million during the quarter, compared to the consensus estimate of $794.69 million. During the same period in the previous year, the company posted $3.33 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. Analysts forecast that Saia will post 15.46 earnings per share for the current year.

Insider Buying and Selling

In other Saia news, EVP Patrick D. Sugar sold 799 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $493.74, for a total value of $394,498.26. Following the completion of the sale, the executive vice president now owns 8,629 shares in the company, valued at $4,260,482.46. This trade represents a 8.47 % decrease in their ownership of the stock. 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 on Monday, February 10th. The shares were sold at an average price of $487.34, for a total transaction of $3,671,619.56. Following the completion of the sale, the chief executive officer now owns 17,645 shares of the company’s stock, valued at approximately $8,599,114.30. This represents a 29.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,493 shares of company stock worth $4,646,181. 0.30% of the stock is owned by insiders.

Institutional Trading of Saia

Large investors have recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new stake in Saia in the fourth quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Saia by 172.7% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60 shares of the transportation company’s stock worth $28,000 after buying an additional 38 shares during the last quarter. Atala Financial Inc acquired a new stake in shares of Saia during the 4th quarter worth about $36,000. Huntington National Bank lifted its stake in shares of Saia by 291.7% during the 4th quarter. Huntington National Bank now owns 94 shares of the transportation company’s stock worth $43,000 after buying an additional 70 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its stake in shares of Saia by 76.6% during the 4th quarter. Tortoise Investment Management LLC now owns 113 shares of the transportation company’s stock worth $51,000 after buying an additional 49 shares during the last quarter.

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.