Saia Inc. (SAIA) Stock Rating Lowered by Zacks Investment Research
Saia Inc. (NASDAQ:SAIA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
According to Zacks, “SCS Trans Inc is a leading transportation company that provides a variety of trucking transportation and supply chain solutions to a broad range of industries, including the retail, petrochemical and manufacturing industries. We serve a wide variety of customers by offering regional, interregional and national LTL services and selected TL services across the United States.Saia customers can choose from a wide variety of service options including overnight and second-day regional LTL shipping and a guaranteed/expedited delivery “
SAIA has been the subject of a number of other research reports. TheStreet upgraded Saia from a “hold” rating to a “buy” rating in a research note on Friday, August 26th. Stifel Nicolaus downgraded shares of Saia from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. They noted that the move was a valuation call. Finally, Cowen and Company increased their price objective on shares of Saia from $28.00 to $32.00 and gave the company a “market perform” rating in a report on Monday, August 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $29.40.
Saia (NASDAQ:SAIA) traded up 1.21% during mid-day trading on Wednesday, reaching $30.02. The company had a trading volume of 110,331 shares. The company has a market capitalization of $751.61 million, a price-to-earnings ratio of 16.32 and a beta of 0.96. The stock has a 50-day moving average of $30.11 and a 200 day moving average of $27.73. Saia has a 12-month low of $18.28 and a 12-month high of $33.96.
Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Friday, July 29th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.03. The firm earned $312 million during the quarter, compared to the consensus estimate of $309.75 million. Saia had a return on equity of 10.61% and a net margin of 3.90%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.75 EPS. On average, analysts expect that Saia will post $1.85 EPS for the current year.
In other news, VP Mark H. Robinson sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $28.55, for a total transaction of $71,375.00. Following the transaction, the vice president now directly owns 16,602 shares of the company’s stock, valued at $473,987.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.30% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its position in shares of Saia by 2.7% in the second quarter. Macquarie Group Ltd. now owns 596,889 shares of the company’s stock worth $15,006,000 after buying an additional 15,519 shares during the period. Mason Street Advisors LLC bought a new position in shares of Saia during the second quarter worth approximately $123,000. Schwab Charles Investment Management Inc. raised its position in shares of Saia by 9.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 139,571 shares of the company’s stock worth $3,509,000 after buying an additional 11,567 shares during the period. Stifel Financial Corp raised its position in shares of Saia by 4.8% in the second quarter. Stifel Financial Corp now owns 131,616 shares of the company’s stock worth $3,308,000 after buying an additional 6,033 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Saia by 2.4% in the second quarter. Arizona State Retirement System now owns 13,023 shares of the company’s stock worth $327,000 after buying an additional 300 shares during the period. 97.75% of the stock is currently owned by institutional investors and hedge funds.
Saia, Inc is a transportation company. The Company provides a range of less-than-truckload (LTL), non-asset truckload, expedited and logistics services across the United States. The Company conducts its operations through its subsidiaries, such as Saia Motor Freight Line, LLC (Saia LTL Freight), Saia TL Plus, LLC (Saia TL Plus), Saia Sales, LLC (Saia Sales), Saia Logistics Services, LLC (Saia Logistics Services), MetroGo, Inc (MetroGo) and LinkEx, Inc (LinkEx).
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