Bank of America Lowers Saia (NASDAQ:SAIA) Price Target to $565.00

Saia (NASDAQ:SAIA) had its price objective reduced by equities research analysts at Bank of America from $600.00 to $565.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective indicates a potential upside of 12.32% from the stock’s current price.

SAIA has been the topic of a number of other reports. Jefferies Financial Group upped their target price on Saia from $525.00 to $560.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. Citigroup decreased their price objective on shares of Saia from $651.00 to $644.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on shares of Saia from $499.00 to $566.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Barclays cut their price target on shares of Saia from $620.00 to $600.00 and set an “overweight” rating for the company in a research note on Friday, January 17th. Finally, Susquehanna restated a “neutral” rating and set a $530.00 price target (down previously from $565.00) on shares of Saia in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Saia presently has a consensus rating of “Moderate Buy” and an average target price of $530.41.

Saia Stock Performance

Shares of SAIA opened at $503.01 on Tuesday. Saia has a 52-week low of $358.90 and a 52-week high of $628.34. The stock’s 50-day simple moving average is $493.78 and its 200 day simple moving average is $461.92. 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 has a market capitalization of $13.38 billion, a price-to-earnings ratio of 35.93, a price-to-earnings-growth ratio of 2.31 and a beta of 1.79.

Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Friday, February 7th. The transportation company reported $2.84 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.03). The firm had revenue of $789.00 million during the quarter, compared to the consensus estimate of $794.69 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 5.0% on a year-over-year basis. During the same period in the previous year, the business earned $3.33 earnings per share. Research analysts forecast that Saia will post 13.47 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Rohit Lal sold 1,120 shares of the business’s 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 transaction, the executive vice president now owns 8,270 shares in the company, valued at $4,631,200. The trade was a 11.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Saia

Large investors have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new stake in Saia in the second quarter valued at $2,227,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Saia by 920.7% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,450 shares of the transportation company’s stock worth $1,636,000 after acquiring an additional 3,112 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Saia by 2.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 7,058 shares of the transportation company’s stock valued at $3,086,000 after purchasing an additional 200 shares during the period. Fulton Bank N.A. boosted its position in shares of Saia by 10.6% during the third quarter. Fulton Bank N.A. now owns 1,588 shares of the transportation company’s stock valued at $694,000 after purchasing an additional 152 shares in the last quarter. Finally, Tobam purchased a new stake in Saia in the third quarter worth $100,000.

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.