Equities Analysts Set Expectations for Saia, Inc.’s FY2018 Earnings (SAIA)
Saia, Inc. (NASDAQ:SAIA) – Equities researchers at KeyCorp raised their FY2018 earnings estimates for shares of Saia in a note issued to investors on Wednesday. KeyCorp analyst T. Fowler now anticipates that the transportation company will post earnings of $2.75 per share for the year, up from their prior estimate of $2.65.
Saia (NASDAQ:SAIA) last posted its earnings results on Friday, July 28th. The transportation company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $358.20 million during the quarter, compared to the consensus estimate of $348.53 million. During the same period in the previous year, the business earned $0.52 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis.
SAIA has been the topic of several other reports. Wolfe Research cut Saia from an “outperform” rating to a “market perform” rating in a research report on Friday, October 6th. Stifel Nicolaus reiterated a “hold” rating and set a $48.00 price target (up from $44.00) on shares of Saia in a research report on Monday, July 31st. Zacks Investment Research cut Saia from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Cowen and Company upped their price target on Saia from $50.00 to $55.00 and gave the company a “market perform” rating in a research report on Monday, July 31st. Finally, ValuEngine upgraded Saia from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Seven investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Saia currently has an average rating of “Hold” and an average target price of $50.33.
In other news, Director Douglas Wayne Rockel sold 3,112 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $53.70, for a total transaction of $167,114.40. Following the sale, the director now directly owns 7,314 shares in the company, valued at $392,761.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director John J. Holland sold 1,618 shares of the company’s stock in a transaction dated 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 in the company, valued at $57,783.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,576 shares of company stock worth $4,053,452. Company insiders own 1.50% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Virginia Retirement Systems ET AL increased its position in shares of Saia by 242.7% during the second quarter. Virginia Retirement Systems ET AL now owns 25,700 shares of the transportation company’s stock valued at $1,318,000 after buying an additional 18,200 shares during the period. First Trust Advisors LP bought a new position in shares of Saia in the second quarter worth approximately $1,924,000. Turner Investments LLC bought a new position in shares of Saia in the second quarter worth approximately $359,000. American Century Companies Inc. increased its position in shares of Saia by 8.8% in the second quarter. American Century Companies Inc. now owns 126,140 shares of the transportation company’s stock worth $6,471,000 after purchasing an additional 10,180 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Saia by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,135,898 shares of the transportation company’s stock worth $94,620,000 after purchasing an additional 9,523 shares during the last quarter. Hedge funds and other institutional investors own 96.98% of the company’s stock.
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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