$344.93 Million in Sales Expected for Saia, Inc. (SAIA) This Quarter
Analysts expect that Saia, Inc. (NASDAQ:SAIA) will post $344.93 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Saia’s earnings, with the lowest sales estimate coming in at $339.50 million and the highest estimate coming in at $349.20 million. Saia reported sales of $316.44 million in the same quarter last year, which would suggest a positive year over year growth rate of 9%. The company is scheduled to issue its next quarterly earnings results before the market opens on Friday, October 27th.
According to Zacks, analysts expect that Saia will report full-year sales of $344.93 million for the current year. For the next year, analysts anticipate that the firm will report sales of $1.48 billion per share, with estimates ranging from $1.45 billion to $1.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Saia.
Saia (NASDAQ:SAIA) last announced its quarterly earnings data on Friday, July 28th. The transportation company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $348.53 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. Saia’s quarterly revenue was up 14.8% on a year-over-year basis.
SAIA has been the topic of several research analyst reports. BidaskClub upgraded Saia from a “hold” rating to a “buy” rating in a research report on Saturday, July 1st. ValuEngine upgraded Saia from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research cut Saia from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Wolfe Research cut Saia from an “outperform” rating to a “market perform” rating in a research report on Friday, October 6th. Finally, Morgan Stanley lifted their price target on Saia from $32.00 to $34.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $50.33.
Saia (SAIA) opened at 59.40 on Thursday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 28.82 and a beta of 0.85. Saia has a one year low of $28.57 and a one year high of $63.05. The company’s 50-day moving average price is $58.43 and its 200-day moving average price is $51.02.
In related news, CEO Richard D. Odell sold 6,400 shares of Saia stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $53.71, for a total transaction of $343,744.00. Following the completion of the sale, the chief executive officer now owns 9,034 shares of the company’s stock, valued at $485,216.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Herbert A. Trucksess III sold 30,000 shares of Saia stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $54.09, for a total value of $1,622,700.00. Following the sale, the director now directly owns 183,442 shares of the company’s stock, valued at approximately $9,922,377.78. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,576 shares of company stock valued at $4,053,452. 1.50% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC boosted its position in Saia by 69.8% during the second quarter. Flinton Capital Management LLC now owns 2,482 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 1,020 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Saia by 68.7% during the second quarter. Riverhead Capital Management LLC now owns 2,531 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 1,031 shares during the last quarter. 1st Global Advisors Inc. acquired a new stake in Saia during the second quarter valued at $200,000. Oppenheimer & Co. Inc. acquired a new stake in Saia during the second quarter valued at $205,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Saia during the second quarter valued at $236,000. 96.98% of the stock is owned by hedge funds and other institutional investors.
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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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