Saia (NASDAQ:SAIA) Shares Gap Up – Here’s Why

Saia, Inc. (NASDAQ:SAIA)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $436.81, but opened at $451.07. Saia shares last traded at $450.33, with a volume of 26,025 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SAIA shares. Susquehanna increased their target price on Saia from $550.00 to $585.00 and gave the company a “positive” rating in a research report on Wednesday, September 18th. Benchmark reissued a “buy” rating and issued a $480.00 price objective on shares of Saia in a research note on Thursday, September 19th. Wolfe Research upgraded shares of Saia from a “peer perform” rating to an “outperform” rating and set a $511.00 target price on the stock in a research report on Wednesday. Bank of America increased their price target on shares of Saia from $443.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, September 5th. Finally, Barclays reduced their price objective on Saia from $575.00 to $515.00 and set an “overweight” rating on the stock in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $496.60.

Saia Stock Performance

The firm has a market capitalization of $12.04 billion, a P/E ratio of 31.65, a P/E/G ratio of 2.03 and a beta of 1.74. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a 50-day moving average price of $407.36 and a two-hundred day moving average price of $448.27.

Saia (NASDAQ:SAIA) last released its quarterly earnings data on Friday, July 26th. The transportation company reported $3.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.00 by ($0.17). The company had revenue of $823.24 million during the quarter, compared to analysts’ expectations of $821.60 million. Saia had a net margin of 12.26% and a return on equity of 19.14%. On average, analysts forecast that Saia, Inc. will post 13.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pineridge Advisors LLC purchased a new stake in shares of Saia in the 4th quarter worth $26,000. Blue Trust Inc. lifted its stake in Saia by 161.5% in the second quarter. Blue Trust Inc. now owns 68 shares of the transportation company’s stock worth $32,000 after acquiring an additional 42 shares during the period. Rise Advisors LLC bought a new position in Saia during the 1st quarter worth about $40,000. Quarry LP purchased a new position in Saia during the 2nd quarter valued at about $41,000. Finally, International Assets Investment Management LLC bought a new stake in shares of Saia in the 2nd quarter valued at about $42,000.

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.