Saia Upgraded to Buy by Wunderlich (SAIA)
Saia (NASDAQ:SAIA) was upgraded by equities research analysts at Wunderlich from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $40.00 price target on the stock, up from their previous price target of $32.00. Wunderlich’s price objective would suggest a potential upside of 23.04% from the stock’s previous close.
The analysts wrote, “We are transferring coverage of Saia (SAIA) with a Buy rating and $40 price target. By focusing on internal processes, Saia has transformed itself from a middling LTL player to one of the best earnings growth stories in transportation. EPS has increased from $0.08 in FY10 to $1.69 in FY13. With a leaner cost structure and improved network productivity, we believe Saia is poised to begin taking share from struggling LTL peers. Management believes tonnage growth of roughly 5% is possible in FY14, and, if this is realized, there’s material upside to our FY14 estimates. Moreover, Saia’s clear path to geographic expansion augurs well for intermediate-term results.”
In other Saia news, VP Sally Buchholz sold 6,869 shares of Saia stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $31.00, for a total transaction of $212,939.00. Following the completion of the transaction, the vice president now directly owns 13,693 shares of the company’s stock, valued at approximately $424,483. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Saia (NASDAQ:SAIA) last released its earnings data on Friday, January 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.01. The company had revenue of $280.00 million for the quarter, compared to the consensus estimate of $277.11 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 5.8% on a year-over-year basis.
Saia, Inc (NASDAQ:SAIA), through its wholly owned subsidiaries, is a transportation company.
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