Bank of America Has Lowered Expectations for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA) had its price target reduced by Bank of America from $565.00 to $484.00 in a report released on Wednesday morning,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Several other brokerages have also recently issued reports on SAIA. Barclays lowered their price objective on shares of Saia from $620.00 to $600.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. Cowen reissued a “hold” rating on shares of Saia in a research report on Tuesday, February 4th. Citigroup dropped their target price on shares of Saia from $544.00 to $498.00 and set a “buy” rating on the stock in a research report on Tuesday. Susquehanna lifted their target price on shares of Saia from $530.00 to $540.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Saia from $566.00 to $558.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $527.65.

Saia Stock Performance

Shares of SAIA opened at $395.19 on Wednesday. The firm’s 50 day moving average is $467.30 and its 200-day moving average is $468.40. The stock has a market capitalization of $10.52 billion, a P/E ratio of 29.25, a P/E/G ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.57 and a quick ratio of 1.26. Saia has a 12-month low of $358.90 and a 12-month high of $628.34.

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

Insider Buying and Selling

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

Institutional Trading of Saia

Institutional investors have recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas acquired a new stake in Saia in the third quarter valued at approximately $1,408,000. Highview Capital Management LLC DE acquired a new stake in Saia in the fourth quarter valued at approximately $1,324,000. Y Intercept Hong Kong Ltd bought a new position in shares of Saia in the fourth quarter valued at approximately $3,363,000. Legato Capital Management LLC raised its position in shares of Saia by 100.6% in the fourth quarter. Legato Capital Management LLC now owns 1,565 shares of the transportation company’s stock valued at $713,000 after purchasing an additional 785 shares during the period. Finally, MML Investors Services LLC raised its position in shares of Saia by 89.8% in the third quarter. MML Investors Services LLC now owns 4,313 shares of the transportation company’s stock valued at $1,886,000 after purchasing an additional 2,041 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.