Saia, Inc. (SAIA) Announces Earnings Results, Misses Expectations By $0.01 EPS

Saia, Inc. (NASDAQ:SAIA) issued its quarterly earnings results on Friday. The transportation company reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.01), MarketWatch Earnings reports. The business had revenue of $350.06 million for the quarter, compared to the consensus estimate of $344.46 million. Saia had a return on equity of 10.84% and a net margin of 4.12%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 earnings per share.

Saia (NASDAQ SAIA) traded up 6.00% during mid-day trading on Friday, reaching $66.30. The company’s stock had a trading volume of 293,196 shares. Saia has a 12-month low of $33.55 and a 12-month high of $66.53. The company has a 50-day moving average price of $59.65 and a 200-day moving average price of $52.15. The firm has a market cap of $1.68 billion, a PE ratio of 32.17 and a beta of 0.85.

In other news, Director Herbert A. Trucksess III sold 10,000 shares of the stock in a transaction on Friday, September 1st. The stock was sold at an average price of $56.54, for a total transaction of $565,400.00. Following the transaction, the director now directly owns 158,442 shares of the company’s stock, valued at approximately $8,958,310.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John J. Holland sold 1,618 shares of the stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $56.21, for a total value of $90,947.78. Following the transaction, the director now directly owns 1,028 shares in the company, valued at $57,783.88. The disclosure for this sale can be found here. Insiders have sold a total of 74,576 shares of company stock worth $4,053,452 over the last three months. Insiders own 1.50% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP bought a new position in shares of Saia during the 2nd quarter valued at $1,924,000. Virginia Retirement Systems ET AL raised its holdings in Saia by 242.7% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 25,700 shares of the transportation company’s stock worth $1,318,000 after purchasing an additional 18,200 shares during the period. Turner Investments LLC bought a new position in Saia in the 2nd quarter worth $359,000. American Century Companies Inc. raised its holdings in Saia by 8.8% in the 2nd quarter. American Century Companies Inc. now owns 126,140 shares of the transportation company’s stock worth $6,471,000 after purchasing an additional 10,180 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in Saia by 9.6% in the 2nd quarter. Goldman Sachs Group Inc. now owns 893,674 shares of the transportation company’s stock worth $45,845,000 after purchasing an additional 78,252 shares during the period. 97.13% of the stock is currently owned by hedge funds and other institutional investors.

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A number of analysts recently commented on SAIA shares. BidaskClub upgraded Saia from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Cowen and Company reiterated a “hold” rating and set a $55.00 price target on shares of Saia in a report on Friday, September 8th. Wolfe Research lowered Saia from an “outperform” rating to a “market perform” rating in a report on Friday, October 6th. Morgan Stanley lifted their price target on Saia from $32.00 to $34.00 and gave the stock an “equal weight” rating in a report on Thursday, October 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $53.00 price target on shares of Saia in a report on Thursday, September 21st. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $50.33.

About Saia

Saia, Inc is a transportation company. The Company provides regional and interregional less-than-truckload (LTL) services. The Company also offers a range of other value-added services, including non-asset truckload, expedited and logistics services across the United States. The Company’s subsidiary Saia Motor Freight Line, LLC (Saia LTL Freight) is a LTL carrier.

Earnings History for Saia (NASDAQ:SAIA)

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