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

Saia (NASDAQ:SAIA) had its target price lowered by equities research analysts at Bank of America from $612.00 to $600.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective suggests a potential upside of 23.23% from the stock’s previous close.

SAIA has been the subject of several other reports. Susquehanna reiterated a “neutral” rating and issued a $530.00 target price (down from $565.00) on shares of Saia in a report on Tuesday, January 7th. Wolfe Research raised shares of Saia from a “peer perform” rating to an “outperform” rating and set a $511.00 price objective for the company in a research note on Wednesday, October 9th. Evercore ISI dropped their target price on shares of Saia from $503.00 to $488.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Benchmark restated a “buy” rating and issued a $480.00 price target on shares of Saia in a report on Thursday, September 19th. Finally, Citigroup dropped their price objective on shares of Saia from $651.00 to $644.00 and set a “buy” rating on the stock in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Saia currently has an average rating of “Moderate Buy” and a consensus target price of $522.59.

Saia Trading Down 1.2 %

Shares of SAIA opened at $486.89 on Thursday. The firm has a market capitalization of $12.95 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.12 and a beta of 1.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 1.26. Saia has a 1-year low of $358.90 and a 1-year high of $628.34. The company has a 50-day moving average of $506.97 and a 200 day moving average of $459.88.

Saia (NASDAQ:SAIA) last posted its quarterly earnings results on Friday, October 25th. The transportation company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.53 by ($0.07). The company had revenue of $842.10 million for the quarter, compared to the consensus estimate of $839.82 million. Saia had a net margin of 11.83% and a return on equity of 18.00%. The business’s revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.67 EPS. On average, research analysts expect that Saia will post 13.49 EPS for the current year.

Insider Activity at Saia

In other Saia news, EVP Rohit Lal sold 1,120 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $560.00, for a total value of $627,200.00. Following the completion of the sale, the executive vice president now owns 8,270 shares of the company’s stock, valued at approximately $4,631,200. This trade represents a 11.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Saia

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new position in Saia during the 2nd quarter valued at approximately $41,000. Paladin Wealth LLC acquired a new position in shares of Saia in the 3rd quarter valued at $40,000. Tobam purchased a new position in Saia in the 3rd quarter worth $100,000. Blue Trust Inc. lifted its position in Saia by 319.1% during the 3rd quarter. Blue Trust Inc. now owns 285 shares of the transportation company’s stock worth $135,000 after acquiring an additional 217 shares during the period. Finally, GAMMA Investing LLC lifted its position in Saia by 148.0% during the 4th quarter. GAMMA Investing LLC now owns 367 shares of the transportation company’s stock worth $167,000 after acquiring an additional 219 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.