Saia, Inc. (SAIA) Given New $34.00 Price Target at Morgan Stanley
Saia, Inc. (NASDAQ:SAIA) had its price target boosted by investment analysts at Morgan Stanley from $32.00 to $34.00 in a research note issued on Thursday. The brokerage currently has an “equal weight” rating on the transportation company’s stock. Morgan Stanley’s price objective points to a potential downside of 44.31% from the stock’s current price.
A number of other brokerages also recently weighed in on SAIA. Stifel Nicolaus restated a “hold” rating and issued a $48.00 target price (up previously from $44.00) on shares of Saia in a research note on Monday, July 31st. Zacks Investment Research downgraded Saia from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Cowen and Company boosted their target price on Saia from $50.00 to $55.00 and gave the stock a “market perform” rating in a research note on Monday, July 31st. ValuEngine upgraded Saia from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub downgraded Saia from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.33.
Saia (NASDAQ SAIA) traded down 1.72% during mid-day trading on Thursday, reaching $60.00. The company’s stock had a trading volume of 34,688 shares. The firm has a 50 day moving average price of $57.45 and a 200 day moving average price of $50.45. Saia has a 52-week low of $27.96 and a 52-week high of $63.05. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 29.11 and a beta of 0.85.
Saia (NASDAQ:SAIA) last announced its earnings results on Friday, July 28th. The transportation company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.06. Saia had a return on equity of 10.84% and a net margin of 4.12%. The firm had revenue of $358.20 million for the quarter, compared to the consensus estimate of $348.53 million. During the same quarter in the previous year, the business earned $0.52 EPS. The company’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts anticipate that Saia will post $2.18 earnings per share for the current year.
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In related news, Director John J. Holland sold 1,618 shares of Saia stock in a transaction that occurred 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 sale, the director now owns 1,028 shares of the company’s stock, valued at approximately $57,783.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephanie Maschmeier sold 5,925 shares of Saia stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $53.20, for a total transaction of $315,210.00. Following the completion of the sale, the insider now directly owns 9,150 shares in the company, valued at approximately $486,780. The disclosure for this sale can be found here. Insiders sold a total of 74,576 shares of company stock worth $4,053,452 in the last ninety days. 1.50% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Flinton Capital Management LLC raised its holdings in shares of Saia by 69.8% in the 2nd quarter. Flinton Capital Management LLC now owns 2,482 shares of the transportation company’s stock worth $127,000 after purchasing an additional 1,020 shares during the period. Riverhead Capital Management LLC raised its holdings in Saia by 68.7% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,531 shares of the transportation company’s stock valued at $130,000 after acquiring an additional 1,031 shares during the period. 1st Global Advisors Inc. bought a new stake in Saia during the 2nd quarter valued at $200,000. Oppenheimer & Co. Inc. bought a new stake in Saia during the 2nd quarter valued at $205,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Saia during the 2nd quarter valued at $236,000. 96.98% of the stock is currently owned by institutional investors.
Saia Company Profile
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.
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