Morgan Stanley Raises Saia (NASDAQ:SAIA) Price Target to $70.00

Saia (NASDAQ:SAIA) had its target price increased by stock analysts at Morgan Stanley from $60.00 to $70.00 in a research report issued to clients and investors on Thursday, AnalystRatings.com reports. The brokerage presently has an “underweight” rating on the transportation company’s stock. Morgan Stanley’s price target indicates a potential downside of 28.48% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. ValuEngine downgraded Saia from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Stifel Nicolaus boosted their price target on Saia from $66.00 to $77.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Buckingham Research boosted their price target on Saia from $76.00 to $87.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. KeyCorp boosted their price target on Saia from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, September 5th. Finally, Wolfe Research set a $111.00 price target on Saia and gave the company a “buy” rating in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $88.67.

Shares of Saia stock traded down $0.52 during trading hours on Thursday, reaching $97.88. 11,458 shares of the stock traded hands, compared to its average volume of 353,352. The company has a 50 day moving average price of $95.69 and a 200 day moving average price of $76.89. The firm has a market capitalization of $2.49 billion, a price-to-earnings ratio of 24.48 and a beta of 1.11. Saia has a one year low of $52.04 and a one year high of $107.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.18.

Saia (NASDAQ:SAIA) last released its quarterly earnings results on Wednesday, October 30th. The transportation company reported $1.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.03). The firm had revenue of $468.90 million for the quarter, compared to the consensus estimate of $464.97 million. Saia had a net margin of 6.72% and a return on equity of 15.89%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.07 earnings per share. Sell-side analysts anticipate that Saia will post 4.42 earnings per share for the current year.

In other Saia news, CEO Richard D. Odell sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $92.67, for a total value of $1,482,720.00. Following the completion of the transaction, the chief executive officer now directly owns 49,551 shares in the company, valued at approximately $4,591,891.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John J. Holland sold 1,027 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $87.83, for a total value of $90,201.41. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Saia by 1.0% during the 2nd quarter. BlackRock Inc. now owns 3,804,901 shares of the transportation company’s stock worth $246,064,000 after acquiring an additional 38,831 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Saia by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 2,714,802 shares of the transportation company’s stock worth $175,566,000 after acquiring an additional 32,440 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Saia by 4.6% during the 2nd quarter. Janus Henderson Group PLC now owns 1,444,226 shares of the transportation company’s stock worth $93,398,000 after acquiring an additional 63,108 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Saia by 38.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,162,000 shares of the transportation company’s stock worth $75,147,000 after acquiring an additional 325,454 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Saia by 28.3% during the 2nd quarter. Wells Fargo & Company MN now owns 1,153,252 shares of the transportation company’s stock worth $74,581,000 after acquiring an additional 254,248 shares in the last quarter.

About Saia

Saia, Inc, through its subsidiaries, operates as a transportation company in North America. The company provides regional and interregional less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services.

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Analyst Recommendations for Saia (NASDAQ:SAIA)

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