Zacks Investment Research upgraded shares of Saia (NASDAQ:SAIA) from a hold rating to a buy rating in a research note released on Tuesday morning. They currently have $71.00 price objective on the transportation company’s stock.
According to Zacks, “Saia Inc., is a leading multi-regional less-than-truckload (LTL) carrier. It is a leading transportation company that provides a variety of trucking transportation and supply chain solutions to a broad range of industries, including the retail, petrochemical and manufacturing industries. Saia Inc., serves a wide variety of customers by offering regional, interregional and national LTL services and selected TL services across the United States. It offers customers a wide range of less-than-truckload, non-asset truckload, and logistic services. Saia LTL Freight operates 152 terminals in 38 states and is headquartered in Johns Creek, Georgia. “
SAIA has been the subject of a number of other reports. Deutsche Bank started coverage on shares of Saia in a report on Tuesday, September 4th. They set a hold rating and a $77.00 price target for the company. ValuEngine upgraded shares of Saia from a sell rating to a hold rating in a report on Thursday, November 1st. Morgan Stanley set a $57.00 target price on shares of Saia and gave the company a sell rating in a report on Monday, October 22nd. Cowen restated a market perform rating and issued a $75.00 target price (down from $84.00) on shares of Saia in a report on Thursday, November 1st. Finally, Stifel Nicolaus set a $73.00 target price on shares of Saia and gave the company a hold rating in a report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $74.13.
Shares of NASDAQ SAIA traded down $1.98 during midday trading on Tuesday, reaching $63.71. 144,756 shares of the stock were exchanged, compared to its average volume of 255,826. The company has a market cap of $1.69 billion, a PE ratio of 29.09 and a beta of 1.01. Saia has a 52-week low of $56.16 and a 52-week high of $87.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.07 and a quick ratio of 1.07.
Saia (NASDAQ:SAIA) last issued its quarterly earnings results on Wednesday, October 31st. The transportation company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $425.60 million during the quarter, compared to the consensus estimate of $417.70 million. Saia had a net margin of 7.96% and a return on equity of 14.85%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. On average, analysts anticipate that Saia will post 3.88 EPS for the current year.
In related news, Director Jeffrey C. Ward sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $76.01, for a total value of $76,010.00. Following the completion of the sale, the director now directly owns 8,279 shares in the company, valued at $629,286.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.50% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the business. Northern Trust Corp lifted its position in Saia by 5.5% during the second quarter. Northern Trust Corp now owns 822,188 shares of the transportation company’s stock valued at $66,474,000 after buying an additional 43,050 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its position in Saia by 9.0% during the second quarter. Metropolitan Life Insurance Co. NY now owns 8,246 shares of the transportation company’s stock valued at $667,000 after buying an additional 679 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Saia during the second quarter valued at approximately $439,000. Principal Financial Group Inc. lifted its position in Saia by 3.4% during the first quarter. Principal Financial Group Inc. now owns 201,421 shares of the transportation company’s stock valued at $15,137,000 after buying an additional 6,589 shares in the last quarter. Finally, Citadel Advisors LLC lifted its position in Saia by 846.0% during the second quarter. Citadel Advisors LLC now owns 85,498 shares of the transportation company’s stock valued at $6,913,000 after buying an additional 76,460 shares in the last quarter. 99.39% of the stock is currently owned by hedge funds and other institutional investors.
Saia Company Profile
Saia, Inc, through its wholly-owned subsidiaries, operates as a transportation company in North America. The company provides regional and interregional less-than-truckload services for shipments between 100 and 10,000 pounds; truckload services; and other value-added services, including non-asset truckload, expedited, and logistics services.
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