Saia (NASDAQ:SAIA) Trading Down 5.6% Following Analyst Downgrade

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Saia, Inc. (NASDAQ:SAIAGet Rating) shares fell 5.6% during trading on Wednesday after Evercore ISI lowered their price target on the stock from $298.00 to $250.00. Evercore ISI currently has an outperform rating on the stock. Saia traded as low as $191.97 and last traded at $195.33. 2,517 shares were traded during mid-day trading, a decline of 99% from the average session volume of 399,241 shares. The stock had previously closed at $206.97.

SAIA has been the topic of a number of other research reports. StockNews.com began coverage on Saia in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Wolfe Research reduced their price objective on Saia from $347.00 to $278.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 5th. Raymond James reduced their price objective on Saia from $350.00 to $275.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 20th. Citigroup reduced their price objective on Saia from $230.00 to $190.00 and set a “neutral” rating on the stock in a research note on Thursday, May 19th. Finally, UBS Group raised Saia from a “neutral” rating to a “buy” rating and raised their price objective for the company from $213.00 to $240.00 in a research note on Monday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.69.

Institutional investors have recently bought and sold shares of the company. Gradient Investments LLC lifted its holdings in Saia by 7.6% in the second quarter. Gradient Investments LLC now owns 25,889 shares of the transportation company’s stock worth $4,867,000 after buying an additional 1,818 shares during the period. State of Alaska Department of Revenue grew its position in Saia by 2.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,794 shares of the transportation company’s stock worth $713,000 after purchasing an additional 85 shares during the period. Bank of America Corp DE grew its position in Saia by 83.9% in the 1st quarter. Bank of America Corp DE now owns 269,130 shares of the transportation company’s stock worth $65,618,000 after purchasing an additional 122,808 shares during the period. Verition Fund Management LLC bought a new stake in Saia in the 1st quarter worth approximately $1,306,000. Finally, Walleye Capital LLC grew its position in shares of Saia by 173.8% during the 1st quarter. Walleye Capital LLC now owns 6,065 shares of the transportation company’s stock valued at $1,479,000 after acquiring an additional 3,850 shares during the period.

The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.51 and a current ratio of 1.51. The business’s 50-day moving average price is $195.19 and its 200-day moving average price is $239.45. The stock has a market cap of $5.14 billion, a P/E ratio of 17.60, a P/E/G ratio of 0.73 and a beta of 1.34.

Saia (NASDAQ:SAIAGet Rating) last announced its quarterly earnings results on Monday, May 2nd. The transportation company reported $2.98 EPS for the quarter, topping the consensus estimate of $2.70 by $0.28. Saia had a net margin of 11.98% and a return on equity of 24.76%. The business had revenue of $661.20 million for the quarter, compared to analysts’ expectations of $633.80 million. During the same quarter in the previous year, the company earned $1.40 EPS. The business’s quarterly revenue was up 36.6% compared to the same quarter last year. As a group, equities research analysts expect that Saia, Inc. will post 12.84 earnings per share for the current year.

Saia Company Profile (NASDAQ:SAIA)

Saia, Inc, through its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 400 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. As of December 31, 2021, it operated 176 owned and leased facilities; and owned approximately 5,600 tractors and 19,300 trailers.

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