Saia (NASDAQ:SAIA) Price Target Raised to $429.00

Saia (NASDAQ:SAIA) had its target price increased by Citigroup from $417.00 to $429.00 in a research note released on Wednesday morning,Benzinga reports. They currently have a buy rating on the transportation company’s stock.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen cut their price objective on shares of Saia from $445.00 to $400.00 and set a “hold” rating for the company in a research note on Friday, July 31st. The Goldman Sachs Group reissued a “buy” rating and issued a $476.00 price target on shares of Saia in a research note on Thursday, July 30th. Sanford C. Bernstein initiated coverage on shares of Saia in a research report on Thursday, September 10th. They set an “outperform” rating and a $439.00 price target for the company. Wells Fargo & Company reduced their price objective on Saia from $490.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Friday, July 31st. Finally, Stifel Nicolaus upgraded Saia from a “hold” rating to a “buy” rating and set a $438.00 price objective on the stock in a report on Friday, July 31st. Fourteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Saia currently has a consensus rating of “Moderate Buy” and a consensus price target of $441.00.

Saia Stock Performance

Shares of NASDAQ SAIA opened at $336.75 on Wednesday. The stock’s 50-day moving average is $350.96 and its 200 day moving average is $399.42. The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 32.50, a P/E/G ratio of 2.75 and a beta of 2.19. Saia has a 1-year low of $249.32 and a 1-year high of $494.71. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.04.

Saia (NASDAQ:SAIA) last issued its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.38 by $0.13. The business had revenue of $956.49 million for the quarter, compared to analysts’ expectations of $956.20 million. Saia had a net margin of 8.19% and a return on equity of 10.21%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the business earned $2.67 earnings per share. On average, sell-side analysts anticipate that Saia will post 11.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its holdings in Saia by 14.2% in the 3rd quarter. GAMMA Investing LLC now owns 853 shares of the transportation company’s stock worth $285,000 after buying an additional 106 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Saia by 42.8% during the third quarter. Farther Finance Advisors LLC now owns 257 shares of the transportation company’s stock valued at $86,000 after buying an additional 77 shares during the period. Argent Capital Management LLC bought a new position in shares of Saia during the third quarter valued at approximately $204,000. Cim Investment Management Inc. bought a new position in shares of Saia during the second quarter valued at approximately $208,000. Finally, State Street Corp raised its holdings in shares of Saia by 3.4% during the second quarter. State Street Corp now owns 854,398 shares of the transportation company’s stock valued at $359,862,000 after acquiring an additional 28,397 shares in the last quarter.

Saia Company Profile

Saia, Inc is a transportation and logistics company headquartered in Johns Creek, Georgia. Its primary business is less-than-truckload (LTL) freight transportation, serving shippers whose shipments do not require a full truck. Through its Saia LTL Freight subsidiary, the company provides regional and interregional freight services, including standard, expedited and time-definite delivery options.

Saia also provides third-party logistics services through Saia Logistics Services. These offerings can include the coordination of truckload, LTL, intermodal and other transportation solutions, allowing customers to manage a broader range of shipping needs through one provider.

The company traces its history to 1924, when it began operations in Louisiana.