Saia, Inc. (SAIA) Cut to Market Perform at Wolfe Research
Wolfe Research lowered shares of Saia, Inc. (NASDAQ:SAIA) from an outperform rating to a market perform rating in a research note released on Friday, The Fly reports.
A number of other research firms have also weighed in on SAIA. Stifel Nicolaus reaffirmed a hold rating and set a $48.00 target price (up previously from $44.00) on shares of Saia in a report on Monday, July 31st. Zacks Investment Research lowered shares of Saia from a buy rating to a hold rating in a report on Wednesday, September 20th. Cowen and Company increased their price target on shares of Saia from $50.00 to $55.00 and gave the stock a market perform rating in a report on Monday, July 31st. ValuEngine raised shares of Saia from a hold rating to a buy rating in a report on Friday, September 1st. Finally, BidaskClub lowered shares of Saia from a buy rating to a hold rating in a report on Wednesday, June 21st. Seven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Saia has an average rating of Hold and an average price target of $50.33.
Shares of Saia (NASDAQ:SAIA) opened at 59.65 on Friday. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 28.94 and a beta of 0.84. Saia has a 52-week low of $27.96 and a 52-week high of $63.05. The company’s 50 day moving average is $57.83 and its 200 day moving average is $50.62.
Saia (NASDAQ:SAIA) last posted its earnings results on Friday, July 28th. The transportation company reported $0.68 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.06. The business had revenue of $358.20 million for the quarter, compared to analyst estimates of $348.53 million. Saia had a net margin of 4.12% and a return on equity of 10.84%. Saia’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 EPS. Analysts anticipate that Saia will post $2.18 earnings per share for the current year.
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In other news, Director Herbert A. Trucksess III sold 15,000 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $54.33, for a total value of $814,950.00. Following the completion of the sale, the director now owns 183,442 shares of the company’s stock, valued at approximately $9,966,403.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John J. Holland sold 1,618 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $56.21, for a total transaction of $90,947.78. Following the completion of the sale, the director now directly owns 1,028 shares of the company’s stock, valued at approximately $57,783.88. The disclosure for this sale can be found here. Insiders sold a total of 74,576 shares of company stock worth $4,053,452 in the last three months. Insiders own 1.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. 1st Global Advisors Inc. purchased a new stake in shares of Saia in the 2nd quarter valued at $200,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Saia in the 2nd quarter valued at $282,000. The Manufacturers Life Insurance Company boosted its stake in shares of Saia by 3.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 19,906 shares of the transportation company’s stock valued at $1,021,000 after purchasing an additional 661 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Saia in the 2nd quarter valued at $236,000. Finally, Flinton Capital Management LLC boosted its stake in shares of Saia by 69.8% in the 2nd 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 in the last quarter. 96.98% of the stock is owned by institutional investors.
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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