Saia (NASDAQ:SAIA) had its price target hoisted by Morgan Stanley from $35.00 to $50.00 in a research note issued on Wednesday. The brokerage currently has an “underweight” rating on the transportation company’s stock. Morgan Stanley’s target price indicates a potential downside of 30.65% from the company’s current price.
Several other analysts have also issued reports on the stock. Zacks Investment Research raised shares of Saia from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research report on Tuesday, January 2nd. BidaskClub raised shares of Saia from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 13th. Seaport Global Securities reissued a “buy” rating on shares of Saia in a research report on Tuesday, December 5th. ValuEngine lowered shares of Saia from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Cowen increased their price objective on shares of Saia from $61.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, February 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $67.75.
Saia (SAIA) traded down $1.95 during midday trading on Wednesday, reaching $72.10. 172,800 shares of the company’s stock traded hands, compared to its average volume of 237,305. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.22 and a quick ratio of 1.09. Saia has a 1 year low of $41.28 and a 1 year high of $80.25. The company has a market capitalization of $1,887.56, a price-to-earnings ratio of 20.66 and a beta of 0.85.
Saia (NASDAQ:SAIA) last posted its quarterly earnings results on Friday, February 2nd. The transportation company reported $0.53 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. Saia had a net margin of 6.61% and a return on equity of 10.80%. The firm had revenue of $353.20 million for the quarter, compared to analyst estimates of $343.26 million. During the same period in the prior year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. sell-side analysts expect that Saia will post 3.54 EPS for the current fiscal year.
In other news, CEO Richard D. Odell sold 53,171 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $74.02, for a total value of $3,935,717.42. Following the transaction, the chief executive officer now directly owns 12,972 shares of the company’s stock, valued at $960,187.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bjorn E. Olsson sold 3,000 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $73.51, for a total transaction of $220,530.00. The disclosure for this sale can be found here. Insiders sold 81,709 shares of company stock worth $6,040,524 over the last three months. Insiders own 1.50% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Saia by 72.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,634 shares of the transportation company’s stock valued at $116,000 after purchasing an additional 685 shares during the period. Meeder Asset Management Inc. increased its position in Saia by 4,376.2% during the third quarter. Meeder Asset Management Inc. now owns 1,880 shares of the transportation company’s stock worth $117,000 after acquiring an additional 1,838 shares during the period. Bessemer Group Inc. increased its position in Saia by 75.0% during the fourth quarter. Bessemer Group Inc. now owns 2,100 shares of the transportation company’s stock worth $149,000 after acquiring an additional 900 shares during the period. Advisor Partners LLC bought a new position in Saia during the fourth quarter worth about $210,000. Finally, SG Americas Securities LLC bought a new position in Saia during the third quarter worth about $179,000. 99.83% of the stock is currently owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: This news story was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this news story on another site, it was copied illegally and reposted in violation of US and international trademark and copyright law. The correct version of this news story can be viewed at https://www.dispatchtribunal.com/2018/02/21/saia-saia-pt-raised-to-50-00.html.
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.
Receive News & Ratings for Saia Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Saia and related companies with MarketBeat.com's FREE daily email newsletter.