Saia (NASDAQ:SAIA) Given New $555.00 Price Target at Bank of America

Saia (NASDAQ:SAIA) had its target price lifted by Bank of America from $501.00 to $555.00 in a research report report published on Monday, Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

Several other research firms have also weighed in on SAIA. Wells Fargo & Company started coverage on shares of Saia in a research report on Friday, June 7th. They set an equal weight rating and a $445.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on shares of Saia from $676.00 to $580.00 and set an overweight rating for the company in a research report on Monday, April 29th. Wolfe Research lowered shares of Saia from an outperform rating to a peer perform rating in a research report on Thursday, April 11th. Evercore ISI raised their price objective on shares of Saia from $523.00 to $566.00 and gave the company an outperform rating in a research report on Tuesday, June 25th. Finally, Raymond James reduced their price objective on shares of Saia from $540.00 to $520.00 and set an outperform rating for the company in a research note on Monday, June 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and an average target price of $502.18.

Saia Stock Performance

Shares of SAIA opened at $489.11 on Monday. The firm has a 50-day moving average price of $445.79 and a 200 day moving average price of $492.96. The firm has a market capitalization of $13.01 billion, a PE ratio of 36.04, a P/E/G ratio of 1.72 and a beta of 1.72. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.04. Saia has a 52-week low of $341.26 and a 52-week high of $628.34.

Saia (NASDAQ:SAIA) last announced its earnings results on Friday, April 26th. The transportation company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.05). Saia had a net margin of 12.42% and a return on equity of 19.53%. The company had revenue of $754.80 million during the quarter, compared to the consensus estimate of $772.36 million. During the same quarter in the prior year, the company earned $2.85 EPS. The business’s quarterly revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts anticipate that Saia will post 15.32 earnings per share for the current fiscal year.

Insider Transactions at Saia

In other news, Director John P. Gainor, Jr. acquired 500 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The shares were purchased at an average price of $407.00 per share, for a total transaction of $203,500.00. Following the completion of the acquisition, the director now owns 900 shares of the company’s stock, valued at approximately $366,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Saia

Hedge funds have recently added to or reduced their stakes in the company. Pineridge Advisors LLC acquired a new position in Saia in the fourth quarter worth approximately $26,000. Blue Trust Inc. increased its holdings in Saia by 161.5% in the second quarter. Blue Trust Inc. now owns 68 shares of the transportation company’s stock worth $32,000 after buying an additional 42 shares during the last quarter. Rise Advisors LLC acquired a new position in Saia during the first quarter valued at approximately $40,000. Core Wealth Advisors Inc. acquired a new position in Saia during the fourth quarter valued at approximately $32,000. Finally, GAMMA Investing LLC acquired a new position in Saia during the fourth quarter valued at approximately $43,000.

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.