Bank of America Cuts Saia (NASDAQ:SAIA) Price Target to $600.00

Saia (NASDAQ:SAIA) had its target price trimmed by Bank of America from $612.00 to $600.00 in a research report released on Thursday,Benzinga reports. The firm currently has a buy rating on the transportation company’s stock.

SAIA has been the subject of a number of other research reports. Wolfe Research raised Saia from a “peer perform” rating to an “outperform” rating and set a $511.00 price objective for the company in a research report on Wednesday, October 9th. BMO Capital Markets raised their price target on Saia from $465.00 to $495.00 and gave the stock a “market perform” rating in a report on Monday, October 28th. Benchmark restated a “buy” rating and set a $480.00 price objective on shares of Saia in a report on Thursday, September 19th. The Goldman Sachs Group lifted their target price on shares of Saia from $492.00 to $563.00 and gave the stock a “neutral” rating in a research note on Thursday, December 12th. Finally, Evercore ISI cut their price target on shares of Saia from $503.00 to $488.00 and set an “outperform” rating on the stock in a research note on Thursday, October 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $522.59.

Saia Stock Performance

Shares of Saia stock opened at $486.89 on Thursday. The company has a market capitalization of $12.95 billion, a PE ratio of 34.78, a P/E/G ratio of 2.12 and a beta of 1.79. The company has a 50-day simple moving average of $506.97 and a two-hundred day simple moving average of $459.83. Saia has a one year low of $358.90 and a one year high of $628.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.26.

Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Friday, October 25th. The transportation company reported $3.46 EPS for the quarter, missing the consensus estimate of $3.53 by ($0.07). The firm had revenue of $842.10 million for the quarter, compared to the consensus estimate of $839.82 million. Saia had a return on equity of 18.00% and a net margin of 11.83%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.67 EPS. Research analysts expect that Saia will post 13.49 EPS for the current fiscal year.

Insider Activity

In other news, EVP Rohit Lal sold 1,120 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $560.00, for a total transaction of $627,200.00. Following the transaction, the executive vice president now owns 8,270 shares in the company, valued at $4,631,200. This trade represents a 11.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Saia

A number of large investors have recently added to or reduced their stakes in SAIA. Choreo LLC purchased a new stake in shares of Saia during the second quarter worth about $271,000. Envestnet Asset Management Inc. increased its stake in Saia by 11.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 103,710 shares of the transportation company’s stock worth $49,189,000 after buying an additional 10,473 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Saia by 15.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 235,401 shares of the transportation company’s stock valued at $111,648,000 after acquiring an additional 31,397 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in shares of Saia by 21.6% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,025 shares of the transportation company’s stock valued at $486,000 after acquiring an additional 182 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Saia by 18.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,506 shares of the transportation company’s stock valued at $1,582,000 after acquiring an additional 535 shares in the last quarter.

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.