Bank of America Issues Pessimistic Forecast for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA) had its price objective cut by investment analysts at Bank of America from $565.00 to $484.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the transportation company’s stock. Bank of America‘s target price would indicate a potential upside of 26.50% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. Stifel Nicolaus raised shares of Saia from a “hold” rating to a “buy” rating and set a $524.00 target price on the stock in a research note on Monday, February 24th. The Goldman Sachs Group upped their target price on shares of Saia from $492.00 to $563.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Raymond James lowered their target price on shares of Saia from $560.00 to $540.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Jefferies Financial Group upped their target price on shares of Saia from $525.00 to $560.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Saia from $566.00 to $558.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $527.65.

Saia Stock Performance

NASDAQ:SAIA opened at $382.61 on Wednesday. The firm’s 50-day moving average is $465.68 and its 200-day moving average is $467.89. Saia has a 52-week low of $358.90 and a 52-week high of $624.55. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.57. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.24 and a beta of 1.79.

Saia (NASDAQ:SAIA) last posted its earnings results on Friday, February 7th. The transportation company reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.03). The business had revenue of $789.00 million during the quarter, compared to the consensus estimate of $794.69 million. Saia had a net margin of 11.28% and a return on equity of 16.63%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.33 EPS. Equities research analysts anticipate that Saia will post 15.46 earnings per share for the current year.

Insider Transactions at Saia

In other news, EVP Patrick D. Sugar sold 799 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $493.74, for a total transaction of $394,498.26. Following the transaction, the executive vice president now directly owns 8,629 shares in the company, valued at approximately $4,260,482.46. This represents a 8.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederick J. Holzgrefe III sold 7,534 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $487.34, for a total transaction of $3,671,619.56. Following the completion of the transaction, the chief executive officer now owns 17,645 shares in the company, valued at $8,599,114.30. This represents a 29.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,493 shares of company stock worth $4,646,181. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Saia

Large investors have recently bought and sold shares of the business. Kestra Investment Management LLC acquired a new position in Saia in the fourth quarter valued at approximately $25,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Saia by 172.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60 shares of the transportation company’s stock valued at $28,000 after buying an additional 38 shares during the period. Atala Financial Inc acquired a new position in Saia in the fourth quarter valued at approximately $36,000. Huntington National Bank lifted its holdings in Saia by 291.7% in the fourth quarter. Huntington National Bank now owns 94 shares of the transportation company’s stock valued at $43,000 after buying an additional 70 shares during the period. Finally, Tortoise Investment Management LLC lifted its holdings in Saia by 76.6% in the fourth quarter. Tortoise Investment Management LLC now owns 113 shares of the transportation company’s stock valued at $51,000 after buying an additional 49 shares during the period.

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.