Saia’s (SAIA) Hold Rating Reaffirmed at Cowen and Company
Saia, Inc. (NASDAQ:SAIA)‘s stock had its “hold” rating reiterated by research analysts at Cowen and Company in a research note issued to investors on Friday. They currently have a $55.00 price target on the transportation company’s stock. Cowen and Company’s target price suggests a potential downside of 5.66% from the stock’s previous close.
Several other research analysts have also recently issued reports on SAIA. Zacks Investment Research raised Saia from a “hold” rating to a “buy” rating and set a $48.00 price target for the company in a research note on Wednesday, May 17th. BidaskClub cut Saia from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Stifel Nicolaus reissued a “hold” rating and issued a $48.00 price target (up previously from $44.00) on shares of Saia in a research note on Monday, July 31st. Finally, ValuEngine raised Saia from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Saia has a consensus rating of “Buy” and an average target price of $52.33.
Shares of Saia (SAIA) opened at 58.30 on Friday. Saia has a 12-month low of $27.96 and a 12-month high of $59.25. The firm has a 50-day moving average price of $53.84 and a 200-day moving average price of $48.70. The firm has a market cap of $1.47 billion, a P/E ratio of 28.29 and a beta of 0.80.
Saia (NASDAQ:SAIA) last released its quarterly earnings results on Friday, July 28th. The transportation company reported $0.68 earnings per share (EPS) for the quarter, topping 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 company had revenue of $358.20 million during the quarter, compared to analysts’ expectations of $348.53 million. During the same quarter in the prior year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, equities research analysts expect that Saia will post $2.20 earnings per share for the current fiscal year.
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In other news, Director John J. Holland sold 1,618 shares of the company’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $56.21, for a total value of $90,947.78. Following the completion of the sale, the director now owns 1,028 shares in the company, valued at $57,783.88. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey C. Ward sold 2,521 shares of the company’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $52.91, for a total value of $133,386.11. Following the completion of the sale, the director now owns 9,279 shares of the company’s stock, valued at approximately $490,951.89. The disclosure for this sale can be found here. In the last 90 days, insiders sold 74,576 shares of company stock valued at $4,053,452. Insiders own 1.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in SAIA. State of Alaska Department of Revenue lifted its holdings in shares of Saia by 2.9% during the first quarter. State of Alaska Department of Revenue now owns 2,810 shares of the transportation company’s stock valued at $124,000 after purchasing an additional 80 shares during the last quarter. Flinton Capital Management LLC lifted its holdings in shares of Saia by 69.8% during the second quarter. Flinton Capital Management LLC now owns 2,482 shares of the transportation company’s stock valued at $127,000 after purchasing an additional 1,020 shares during the last quarter. Riverhead Capital Management LLC lifted its holdings in shares of Saia by 68.7% during the second quarter. Riverhead Capital Management LLC now owns 2,531 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 1,031 shares during the last quarter. 1st Global Advisors Inc. purchased a new stake in shares of Saia during the second quarter valued at $200,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Saia during the second quarter valued at $205,000. Institutional investors and hedge funds own 96.99% 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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