Bank of America Issues Pessimistic Forecast for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA) had its price objective reduced by stock analysts at Bank of America from $600.00 to $565.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective points to a potential upside of 12.32% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Citigroup cut their price target on shares of Saia from $651.00 to $644.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. The Goldman Sachs Group lifted their target price on Saia from $492.00 to $563.00 and gave the stock a “neutral” rating in a report on Thursday, December 12th. Jefferies Financial Group boosted their price target on Saia from $525.00 to $560.00 and gave the stock a “buy” rating in a research note on Friday, January 10th. JPMorgan Chase & Co. increased their price objective on Saia from $499.00 to $566.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Finally, BMO Capital Markets boosted their target price on Saia from $465.00 to $495.00 and gave the stock a “market perform” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Saia currently has an average rating of “Moderate Buy” and an average price target of $530.41.

Saia Stock Performance

Shares of SAIA opened at $503.01 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. The stock has a market cap of $13.38 billion, a P/E ratio of 35.93, a P/E/G ratio of 2.31 and a beta of 1.79. The business’s 50 day moving average price is $493.78 and its 200-day moving average price is $461.92. Saia has a 52 week low of $358.90 and a 52 week high of $628.34.

Saia (NASDAQ:SAIA) last announced its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.03). Saia had a net margin of 11.83% and a return on equity of 18.00%. The company had revenue of $789.00 million for the quarter, compared to analysts’ expectations of $794.69 million. During the same quarter in the previous year, the firm posted $3.33 EPS. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. Equities research analysts anticipate that Saia will post 13.47 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Saia

Several large investors have recently added to or reduced their stakes in SAIA. Kestra Investment Management LLC bought a new stake in Saia during the fourth quarter valued at about $25,000. Paladin Wealth LLC purchased a new stake in shares of Saia during the third quarter worth about $40,000. Tobam bought a new stake in Saia during the 3rd quarter valued at approximately $100,000. Blue Trust Inc. lifted its holdings in Saia by 319.1% in the 3rd quarter. Blue Trust Inc. now owns 285 shares of the transportation company’s stock worth $135,000 after purchasing an additional 217 shares in the last quarter. Finally, Arcadia Investment Management Corp MI bought a new position in Saia in the 4th quarter worth approximately $154,000.

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.