Wells Fargo & Company Cuts Saia (NASDAQ:SAIA) Price Target to $510.00

Saia (NASDAQ:SAIA) had its target price reduced by research analysts at Wells Fargo & Company from $550.00 to $510.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 1.39% from the stock’s previous close.

Several other equities analysts have also issued reports on SAIA. JPMorgan Chase & Co. lifted their target price on Saia from $499.00 to $566.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Stephens lifted their price objective on shares of Saia from $481.00 to $515.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group increased their target price on shares of Saia from $492.00 to $563.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. Jefferies Financial Group lifted their price target on shares of Saia from $525.00 to $560.00 and gave the stock a “buy” rating in a report on Friday, January 10th. Finally, Bank of America decreased their price objective on Saia from $600.00 to $565.00 and set a “buy” rating for the company in a report on Tuesday. One equities research 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 MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $530.41.

Saia Price Performance

Shares of SAIA opened at $503.01 on Tuesday. The stock has a market capitalization of $13.38 billion, a PE ratio of 35.93, a PEG ratio of 2.31 and a beta of 1.79. The company has a 50 day moving average price of $493.78 and a 200-day moving average price of $461.92. 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 has a fifty-two week low of $358.90 and a fifty-two week high of $628.34.

Saia (NASDAQ:SAIA) last posted its earnings results on Friday, February 7th. The transportation company reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.03). Saia had a return on equity of 18.00% and a net margin of 11.83%. 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 prior year, the company earned $3.33 EPS. The firm’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts predict that Saia will post 13.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Saia news, EVP Rohit Lal sold 1,120 shares of Saia stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $560.00, for a total transaction of $627,200.00. Following the sale, the executive vice president now owns 8,270 shares of the company’s stock, valued at $4,631,200. The trade was a 11.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Saia

A number of hedge funds have recently modified their holdings of the business. CIBC Asset Management Inc grew its stake in Saia by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 770 shares of the transportation company’s stock valued at $337,000 after acquiring an additional 26 shares in the last quarter. Legacy Wealth Asset Management LLC grew its position in shares of Saia by 4.1% in the third 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. increased its holdings in shares of Saia by 1.0% in the fourth quarter. UMB Bank n.a. now owns 3,707 shares of the transportation company’s stock valued at $1,689,000 after purchasing an additional 37 shares during the last quarter. Avior Wealth Management LLC lifted its position in Saia by 3.3% during the fourth quarter. Avior Wealth Management LLC now owns 1,171 shares of the transportation company’s stock worth $534,000 after buying an additional 37 shares in the last quarter. Finally, Greenleaf Trust lifted its position in Saia by 6.4% during the fourth quarter. Greenleaf Trust now owns 613 shares of the transportation company’s stock worth $279,000 after buying an additional 37 shares in the last quarter.

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.