JPMorgan Chase & Co. Increases Saia (NASDAQ:SAIA) Price Target to $349.00

Saia (NASDAQ:SAIA) had its price objective boosted by investment analysts at JPMorgan Chase & Co. from $346.00 to $349.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 5.87% from the company’s previous close.

A number of other brokerages have also recently commented on SAIA. Citigroup reduced their target price on shares of Saia from $371.00 to $365.00 and set a “buy” rating for the company in a report on Friday, October 31st. Susquehanna set a $350.00 price objective on Saia in a research note on Friday, October 31st. Benchmark reaffirmed a “buy” rating on shares of Saia in a report on Wednesday, December 3rd. Raymond James Financial cut their price target on Saia from $360.00 to $355.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Finally, Redburn Partners set a $262.00 price target on Saia in a research report on Wednesday, November 26th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $330.25.

Saia Stock Down 0.6%

SAIA stock opened at $329.65 on Monday. The company has a market cap of $8.78 billion, a price-to-earnings ratio of 31.13, a P/E/G ratio of 10.60 and a beta of 2.10. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.68 and a current ratio of 1.68. The business’s 50-day moving average is $292.47 and its two-hundred day moving average is $291.57. Saia has a fifty-two week low of $229.12 and a fifty-two week high of $545.12.

Saia (NASDAQ:SAIA) last released its quarterly earnings results on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.53 by $0.28. Saia had a net margin of 8.77% and a return on equity of 11.32%. The firm had revenue of $839.64 million during the quarter, compared to analyst estimates of $824.06 million. During the same quarter in the prior year, the firm earned $3.46 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, analysts forecast that Saia will post 15.46 earnings per share for the current year.

Insider Activity

In other Saia news, Director Donna E. Epps purchased 422 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were bought at an average cost of $277.60 per share, with a total value of $117,147.20. Following the acquisition, the director owned 1,852 shares in the company, valued at approximately $514,115.20. This trade represents a 29.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Raymond R. Ramu sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $266.57, for a total value of $266,570.00. Following the completion of the transaction, the vice president owned 4,902 shares of the company’s stock, valued at $1,306,726.14. The trade was a 16.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Saia

Hedge funds have recently modified their holdings of the stock. State of Wyoming purchased a new position in Saia during the third quarter valued at $30,000. Parkside Financial Bank & Trust boosted its holdings in shares of Saia by 177.5% during the 2nd quarter. Parkside Financial Bank & Trust now owns 111 shares of the transportation company’s stock valued at $30,000 after purchasing an additional 71 shares during the last quarter. Allworth Financial LP grew its position in shares of Saia by 69.0% during the third quarter. Allworth Financial LP now owns 142 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 58 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Saia in the second quarter worth about $41,000. Finally, Annis Gardner Whiting Capital Advisors LLC increased its holdings in shares of Saia by 6,400.0% in the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 195 shares of the transportation company’s stock worth $58,000 after purchasing an additional 192 shares during the last quarter.

About Saia

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides 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. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.