Barclays Has Lowered Expectations for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA) had its price target dropped by research analysts at Barclays from $620.00 to $600.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. Barclays‘s price objective points to a potential upside of 23.23% from the company’s previous close.

Several other equities analysts also recently commented on SAIA. Susquehanna reissued a “neutral” rating and issued a $530.00 target price (down previously from $565.00) on shares of Saia in a report on Tuesday, January 7th. Citigroup decreased their price target 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. Wolfe Research upgraded Saia from a “peer perform” rating to an “outperform” rating and set a $511.00 price objective for the company in a research report on Wednesday, October 9th. Bank of America decreased their target price on Saia from $612.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Benchmark reissued a “buy” rating and set a $480.00 price target on shares of Saia in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $522.59.

Saia Price Performance

Shares of Saia stock opened at $486.89 on Friday. The stock has a market cap of $12.95 billion, a P/E ratio of 34.78, a P/E/G ratio of 2.12 and a beta of 1.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.26. The stock’s fifty day moving average is $506.97 and its 200 day moving average is $459.83. Saia has a one year low of $358.90 and a one year high of $628.34.

Saia (NASDAQ:SAIA) last announced its quarterly earnings data on Friday, October 25th. The transportation company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.53 by ($0.07). The firm 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 firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.67 earnings per share. Sell-side analysts anticipate that Saia will post 13.49 earnings per share for the current year.

Insider Transactions at Saia

In other news, EVP Rohit Lal sold 1,120 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $560.00, for a total value of $627,200.00. Following the sale, the executive vice president now directly owns 8,270 shares in the company, valued at approximately $4,631,200. This represents a 11.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Saia

Several hedge funds have recently bought and sold shares of SAIA. Artemis Investment Management LLP lifted its position in shares of Saia by 72.9% during the fourth quarter. Artemis Investment Management LLP now owns 249,782 shares of the transportation company’s stock worth $113,833,000 after purchasing an additional 105,356 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Saia by 64.6% in the 3rd 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 lifted its holdings in Saia by 10.2% during the 3rd quarter. Wasatch Advisors LP now owns 692,405 shares of the transportation company’s stock valued at $302,761,000 after buying an additional 64,351 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new stake in Saia in the 3rd quarter valued at about $22,979,000. Finally, International Assets Investment Management LLC grew its stake in Saia by 43,625.8% in the 3rd quarter. International Assets Investment Management LLC now owns 38,916 shares of the transportation company’s stock worth $17,016,000 after acquiring an additional 38,827 shares in the last quarter.

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.