Saia (NASDAQ:SAIA) Shares Gap Down on Analyst Downgrade

Shares of Saia, Inc. (NASDAQ:SAIA) gapped down prior to trading on Friday after Bank of America lowered their price target on the stock from $612.00 to $600.00. The stock had previously closed at $493.04, but opened at $481.67. Bank of America currently has a buy rating on the stock. Saia shares last traded at $482.27, with a volume of 25,603 shares changing hands.

Other research analysts also recently issued reports about the stock. Evercore ISI lowered their price objective on shares of Saia from $503.00 to $488.00 and set an “outperform” rating for the company in a research report on Thursday, October 3rd. Citigroup lowered their price target on Saia from $651.00 to $644.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Jefferies Financial Group upped their price objective on Saia from $525.00 to $560.00 and gave the stock a “buy” rating in a research report on Friday, January 10th. Susquehanna reiterated a “neutral” rating and issued a $530.00 target price (down previously from $565.00) on shares of Saia in a research report on Tuesday, January 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $480.00 target price on shares of Saia in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $523.76.

Insider Activity

In other news, EVP Rohit Lal sold 1,120 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $560.00, for a total value of $627,200.00. Following the transaction, the executive vice president now owns 8,270 shares in the company, valued at approximately $4,631,200. The trade was a 11.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Saia

A number of hedge funds have recently bought and sold shares of SAIA. CIBC Asset Management Inc grew its holdings in Saia by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 770 shares of the transportation company’s stock worth $337,000 after acquiring an additional 26 shares during the period. Legacy Wealth Asset Management LLC boosted its position in shares of Saia by 4.1% during the 3rd quarter. Legacy Wealth Asset Management LLC now owns 770 shares of the transportation company’s stock valued at $337,000 after purchasing an additional 30 shares in the last quarter. UMB Bank n.a. grew its stake in Saia by 1.0% during the fourth quarter. UMB Bank n.a. now owns 3,707 shares of the transportation company’s stock worth $1,689,000 after purchasing an additional 37 shares during the period. Cim LLC boosted its holdings in shares of Saia by 7.6% during the 2nd quarter. Cim LLC now owns 594 shares of the transportation company’s stock worth $282,000 after buying an additional 42 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in shares of Saia by 0.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 15,397 shares of the transportation company’s stock worth $6,732,000 after buying an additional 59 shares during the period.

Saia Stock Down 1.3 %

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.26. The firm’s 50 day moving average price is $508.13 and its two-hundred day moving average price is $459.77. The company has a market cap of $12.94 billion, a P/E ratio of 34.63, a price-to-earnings-growth ratio of 2.12 and a beta of 1.79.

Saia (NASDAQ:SAIA) last posted its quarterly earnings results on Friday, October 25th. The transportation company reported $3.46 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($0.07). Saia had a return on equity of 18.00% and a net margin of 11.83%. The company had revenue of $842.10 million during the quarter, compared to analyst estimates of $839.82 million. During the same quarter in the previous year, the business posted $3.67 earnings per share. The company’s revenue for the quarter was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that Saia, Inc. will post 13.49 EPS for the current fiscal year.

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.