Saia (NASDAQ:SAIA) Shares Gap Down – Here’s What Happened

Saia, Inc. (NASDAQ:SAIA) shares gapped down before the market opened on Tuesday . The stock had previously closed at $557.74, but opened at $540.81. Saia shares last traded at $543.10, with a volume of 224,728 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Evercore ISI decreased their price target on shares of Saia from $503.00 to $488.00 and set an “outperform” rating for the company in a research note on Thursday, October 3rd. Benchmark reissued a “buy” rating and set a $480.00 price objective on shares of Saia in a research report on Thursday, September 19th. The Goldman Sachs Group decreased their price target on shares of Saia from $510.00 to $490.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on shares of Saia from $479.00 to $481.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Finally, Stifel Nicolaus cut shares of Saia from a “buy” rating to a “hold” rating and cut their price objective for the stock from $440.00 to $437.00 in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $506.00.

Saia Stock Performance

The business’s 50 day simple moving average is $486.83 and its two-hundred day simple moving average is $447.06. The firm has a market capitalization of $14.57 billion, a PE ratio of 39.18, a price-to-earnings-growth ratio of 3.08 and a beta of 1.74. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.08.

Saia (NASDAQ:SAIA) last announced its earnings results on Friday, October 25th. The transportation company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.53 by ($0.07). Saia had a return on equity of 18.00% and a net margin of 11.83%. The firm had revenue of $842.10 million during the quarter, compared to analysts’ expectations of $839.82 million. During the same period in the previous year, the business posted $3.67 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. Research analysts expect that Saia, Inc. will post 13.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Rohit Lal sold 1,120 shares of the stock in a transaction 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 sale, the executive vice president now owns 8,270 shares of the company’s stock, valued at approximately $4,631,200. This represents a 11.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in Saia by 161.5% in the 2nd quarter. Blue Trust Inc. now owns 68 shares of the transportation company’s stock worth $32,000 after acquiring an additional 42 shares in the last quarter. Quarry LP bought a new stake in Saia during the 2nd quarter valued at $41,000. International Assets Investment Management LLC purchased a new stake in shares of Saia in the 2nd quarter worth $42,000. Paladin Wealth LLC bought a new position in shares of Saia during the 3rd quarter worth $40,000. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of Saia by 754.5% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 94 shares of the transportation company’s stock valued at $45,000 after buying an additional 83 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.