Saia (NASDAQ:SAIA) Shares Down 5.5% – Here’s Why

Saia, Inc. (NASDAQ:SAIA)’s share price was down 5.5% during trading on Wednesday . The company traded as low as $438.30 and last traded at $431.8490. Approximately 322,050 shares traded hands during trading, a decline of 37% from the average daily volume of 507,539 shares. The stock had previously closed at $457.02.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on SAIA shares. Stifel Nicolaus set a $450.00 price objective on Saia in a research report on Friday, May 1st. Raymond James Financial reissued an “outperform” rating and issued a $477.00 price objective on shares of Saia in a report on Friday, May 1st. Benchmark reissued a “buy” rating on shares of Saia in a report on Wednesday, June 3rd. JPMorgan Chase & Co. upped their price objective on shares of Saia from $465.00 to $490.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Finally, Bank of America upped their price objective on shares of Saia from $413.00 to $429.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $454.00.

Saia Price Performance

The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04. The company’s fifty day moving average is $445.60 and its two-hundred day moving average is $385.86. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 44.99, a P/E/G ratio of 2.26 and a beta of 2.10.

Saia (NASDAQ:SAIA) last issued its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.04. Saia had a net margin of 7.84% and a return on equity of 9.60%. The business had revenue of $806.23 million for the quarter, compared to analysts’ expectations of $789.08 million. During the same quarter in the prior year, the company earned $1.86 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts predict that Saia, Inc. will post 11.4 earnings per share for the current year.

Institutional Trading of Saia

Institutional investors have recently bought and sold shares of the business. Vestor Capital LLC grew its holdings in shares of Saia by 9.5% during the fourth quarter. Vestor Capital LLC now owns 323 shares of the transportation company’s stock worth $96,000 after purchasing an additional 28 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Saia by 5.8% during the fourth quarter. Parallel Advisors LLC now owns 563 shares of the transportation company’s stock worth $184,000 after purchasing an additional 31 shares during the last quarter. Wealth Alliance LLC grew its holdings in shares of Saia by 5.1% during the first quarter. Wealth Alliance LLC now owns 763 shares of the transportation company’s stock worth $268,000 after purchasing an additional 37 shares during the last quarter. Boothbay Fund Management LLC grew its holdings in shares of Saia by 3.2% during the second quarter. Boothbay Fund Management LLC now owns 1,401 shares of the transportation company’s stock worth $384,000 after purchasing an additional 43 shares during the last quarter. Finally, Vident Advisory LLC grew its holdings in shares of Saia by 4.4% during the second quarter. Vident Advisory LLC now owns 1,075 shares of the transportation company’s stock worth $295,000 after purchasing an additional 45 shares during the last quarter.

About Saia

Saia, Inc is a publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America. Headquartered in Johns Creek, Georgia, the company focuses on the efficient movement of time-sensitive freight for a diverse customer base that spans retail, manufacturing, automotive, and healthcare industries. By leveraging a network of terminals and service centers, Saia provides tailored solutions designed to optimize supply chain performance.

The company’s core offerings include regional, interregional, and national LTL shipping, supported by volumetric LTL and port intermodal services.