Saia (NASDAQ:SAIA) Stock Gets Price Target Bump from Citigroup

by · The Markets Daily

Saia (NASDAQ:SAIA – Get Free Report) had its price target upped by equities researchers at Citigroup from $417.00 to $429.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Citigroup’s price target points to a potential upside of 28.60% from the stock’s current price.

A number of other analysts have also recently weighed in on SAIA. Wells Fargo & Company lowered their price objective on Saia from $490.00 to $400.00 and set an “equal weight” rating for the company in a research report on Friday, July 31st. The Goldman Sachs Group reiterated a “buy” rating and issued a $476.00 price target on shares of Saia in a research note on Thursday, July 30th. JPMorgan Chase & Co. lowered their price target on Saia from $490.00 to $463.00 and set an “overweight” rating for the company in a report on Monday. Barclays dropped their price target on Saia from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Finally, TD Cowen cut their price objective on shares of Saia from $445.00 to $400.00 and set a “hold” rating on the stock in a report on Friday, July 31st. Fourteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $441.79.

Check Out Our Latest Research Report on Saia

Saia Stock Down 2.4%

Shares of Saia stock traded down $8.06 on Wednesday, reaching $333.58. The stock had a trading volume of 170,615 shares, compared to its average volume of 471,812. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $8.90 billion, a P/E ratio of 32.29, a P/E/G ratio of 2.79 and a beta of 2.19. The company has a 50 day moving average price of $352.56 and a 200 day moving average price of $399.60. Saia has a 1 year low of $249.32 and a 1 year high of $494.71.

Saia (NASDAQ:SAIA – Get Free Report) last posted its earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, beating analysts’ consensus estimates of $3.38 by $0.13. The company had revenue of $956.49 million during the quarter, compared to analysts’ expectations of $956.20 million. Saia had a net margin of 8.19% and a return on equity of 10.21%. Saia’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.67 earnings per share. As a group, equities research analysts forecast that Saia will post 11.43 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SAIA. Danske Bank A S acquired a new stake in shares of Saia during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Saia in the 2nd quarter worth approximately $27,000. Meeder Asset Management Inc. raised its position in Saia by 360.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company’s stock worth $29,000 after buying an additional 54 shares during the last quarter. Quantbot Technologies LP purchased a new position in Saia during the 2nd quarter worth approximately $64,000. Finally, Versant Capital Management Inc lifted its stake in Saia by 65.6% during the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the transportation company’s stock valued at $65,000 after acquiring an additional 61 shares during the period.

Saia Company Profile

(Get Free Report)

Saia, Inc is a transportation and logistics company headquartered in Johns Creek, Georgia. Its primary business is less-than-truckload (LTL) freight transportation, serving shippers whose shipments do not require a full truck. Through its Saia LTL Freight subsidiary, the company provides regional and interregional freight services, including standard, expedited and time-definite delivery options.

Saia also provides third-party logistics services through Saia Logistics Services. These offerings can include the coordination of truckload, LTL, intermodal and other transportation solutions, allowing customers to manage a broader range of shipping needs through one provider.

The company traces its history to 1924, when it began operations in Louisiana.

Further Reading