Raymond James Issues Pessimistic Forecast for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA) had its price target cut by Raymond James from $560.00 to $540.00 in a research note released on Tuesday,Benzinga reports. They currently have an outperform rating on the transportation company’s stock.

SAIA has been the topic of several other reports. Susquehanna raised their price target on shares of Saia from $530.00 to $540.00 and gave the stock a “neutral” rating in a research note on Tuesday. Bank of America decreased their price objective on Saia from $600.00 to $565.00 and set a “buy” rating on the stock in a report on Tuesday. Stephens raised their target price on Saia from $481.00 to $515.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Wolfe Research upgraded Saia from a “peer perform” rating to an “outperform” rating and set a $511.00 target price on the stock in a research report on Wednesday, October 9th. Finally, BMO Capital Markets increased their price target on Saia from $465.00 to $495.00 and gave the stock a “market perform” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Saia currently has a consensus rating of “Moderate Buy” and an average price target of $530.41.

Saia Stock Up 1.9 %

Shares of NASDAQ SAIA opened at $479.27 on Tuesday. The firm has a market cap of $12.74 billion, a price-to-earnings ratio of 34.23, a price-to-earnings-growth ratio of 2.31 and a beta of 1.79. The company’s 50-day simple moving average is $495.01 and its 200-day simple moving average is $461.63. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.08. Saia has a 52-week low of $358.90 and a 52-week high of $628.34.

Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.03). Saia had a return on equity of 18.00% and a net margin of 11.83%. The firm had revenue of $789.00 million during the quarter, compared to analyst estimates of $794.69 million. During the same quarter in the previous year, the firm posted $3.33 earnings per share. The company’s quarterly revenue was up 5.0% on a year-over-year basis. Equities analysts predict that Saia will post 13.47 EPS for the current fiscal year.

Insider Transactions at Saia

In other news, EVP Rohit Lal sold 1,120 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $560.00, for a total transaction of $627,200.00. Following the completion of the transaction, the executive vice president now directly owns 8,270 shares of the company’s stock, valued at approximately $4,631,200. The trade was a 11.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas purchased a new stake in shares of Saia in the 3rd quarter valued at approximately $1,408,000. MML Investors Services LLC grew its stake in shares of Saia by 89.8% during the third quarter. MML Investors Services LLC now owns 4,313 shares of the transportation company’s stock worth $1,886,000 after purchasing an additional 2,041 shares in the last quarter. ZWJ Investment Counsel Inc. increased its holdings in Saia by 2.8% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 59,870 shares of the transportation company’s stock valued at $27,285,000 after buying an additional 1,644 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in Saia in the third quarter valued at $22,979,000. Finally, BNP Paribas Financial Markets lifted its holdings in Saia by 61.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,698 shares of the transportation company’s stock worth $1,617,000 after buying an additional 1,411 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.