Citigroup Issues Pessimistic Forecast for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA) had its target price decreased by research analysts at Citigroup from $498.00 to $435.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Citigroup’s target price indicates a potential upside of 34.65% from the company’s current price.

A number of other equities research analysts also recently commented on SAIA. Wells Fargo & Company decreased their target price on Saia from $510.00 to $400.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. JPMorgan Chase & Co. dropped their price objective on shares of Saia from $566.00 to $558.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Bank of America cut their price objective on shares of Saia from $565.00 to $484.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. Raymond James decreased their target price on shares of Saia from $540.00 to $455.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, BMO Capital Markets raised Saia from a “market perform” rating to an “outperform” rating and set a $455.00 price target on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $499.28.

Saia Stock Performance

Saia stock traded down $2.24 during mid-day trading on Tuesday, reaching $323.07. 528,454 shares of the company traded hands, compared to its average volume of 445,361. The firm’s fifty day moving average is $412.88 and its two-hundred day moving average is $460.97. The company has a market capitalization of $8.60 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 2.24 and a beta of 1.99. Saia has a fifty-two week low of $287.50 and a fifty-two week high of $624.55. 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 (NASDAQ:SAIA) last released its earnings results 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). Saia had a net margin of 11.28% and a return on equity of 16.63%. The firm had revenue of $789.00 million during the quarter, compared to analyst estimates of $794.69 million. During the same period in the previous year, the company earned $3.33 earnings per share. Saia’s revenue was up 5.0% on a year-over-year basis. On average, equities research analysts expect that Saia will post 15.46 earnings per share for the current fiscal year.

Insider Activity at Saia

In other news, EVP Patrick D. Sugar sold 799 shares of Saia stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $493.74, for a total value of $394,498.26. Following the sale, the executive vice president now owns 8,629 shares in the company, valued at $4,260,482.46. This trade 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 available through this link. Also, CFO Matthew J. Batteh sold 700 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.09, for a total transaction of $350,063.00. Following the sale, the chief financial officer now directly owns 3,326 shares of the company’s stock, valued at $1,663,299.34. This represents a 17.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,493 shares of company stock valued at $4,646,181. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Saia

Hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in Saia by 41,888.8% in the 1st quarter. GAMMA Investing LLC now owns 154,099 shares of the transportation company’s stock valued at $53,847,000 after acquiring an additional 153,732 shares during the last quarter. First Hawaiian Bank increased its holdings in shares of Saia by 2.5% in the first quarter. First Hawaiian Bank now owns 4,248 shares of the transportation company’s stock valued at $1,484,000 after purchasing an additional 104 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Saia during the fourth quarter worth approximately $4,493,000. Armis Advisers LLC acquired a new position in Saia during the fourth quarter worth $340,000. Finally, Challenger Wealth Management purchased a new stake in Saia in the 4th quarter valued at $228,000.

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.