TD Cowen Increases Saia (NASDAQ:SAIA) Price Target to $478.00

Saia (NASDAQ:SAIA) had its price objective lifted by investment analysts at TD Cowen from $456.00 to $478.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “hold” rating on the transportation company’s stock. TD Cowen’s target price indicates a potential downside of 4.97% from the stock’s previous close.

Several other brokerages have also weighed in on SAIA. Jefferies Financial Group increased their target price on shares of Saia from $525.00 to $560.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Susquehanna lifted their target price on shares of Saia from $530.00 to $540.00 and gave the company a “neutral” rating in a report on Tuesday. Citigroup cut their target price on Saia from $561.00 to $544.00 and set a “buy” rating on the stock in a research report on Tuesday. Wolfe Research upgraded Saia from a “peer perform” rating to an “outperform” rating and set a $511.00 price target for the company in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company cut their price objective on Saia from $550.00 to $510.00 and set an “equal weight” rating on the stock in a report on Tuesday. One investment 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. Based on data from MarketBeat, Saia currently has an average rating of “Moderate Buy” and an average price target of $530.41.

Saia Stock Performance

NASDAQ:SAIA opened at $503.01 on Tuesday. The company’s 50-day moving average is $493.78 and its two-hundred day moving average is $461.92. Saia has a 1-year low of $358.90 and a 1-year high of $628.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.26 and a quick ratio of 1.26. The firm has a market capitalization of $13.38 billion, a price-to-earnings ratio of 35.93, a PEG ratio of 2.31 and a beta of 1.79.

Saia (NASDAQ:SAIA) last released its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.03). Saia had a net margin of 11.83% and a return on equity of 18.00%. The business had revenue of $789.00 million during the quarter, compared to analyst estimates of $794.69 million. During the same quarter in the prior year, the company posted $3.33 earnings per share. The company’s revenue was up 5.0% on a year-over-year basis. Analysts forecast that Saia will post 13.47 EPS for the current year.

Insider Activity at Saia

In other news, EVP Rohit Lal sold 1,120 shares of Saia stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $560.00, for a total transaction of $627,200.00. Following the sale, the executive vice president now owns 8,270 shares in the company, valued at approximately $4,631,200. The trade was a 11.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SAIA. Artemis Investment Management LLP boosted its holdings in shares of Saia by 72.9% in the fourth quarter. Artemis Investment Management LLP now owns 249,782 shares of the transportation company’s stock valued at $113,833,000 after acquiring an additional 105,356 shares during the period. Stephens Investment Management Group LLC purchased a new stake in shares of Saia in the fourth quarter valued at about $45,767,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Saia by 64.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 250,626 shares of the transportation company’s stock worth $109,589,000 after buying an additional 98,383 shares during the period. Wasatch Advisors LP grew its holdings in shares of Saia by 10.2% during the third quarter. Wasatch Advisors LP now owns 692,405 shares of the transportation company’s stock worth $302,761,000 after buying an additional 64,351 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in Saia in the 3rd quarter valued at about $22,979,000.

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.