Saia (SAIA) PT Lowered to $75.00 at Raymond James

Saia (NASDAQ:SAIA) had its price objective trimmed by Raymond James from $85.00 to $75.00 in a research note released on Thursday morning. The firm currently has an outperform rating on the transportation company’s stock.

SAIA has been the subject of several other research reports. Morgan Stanley set a $57.00 price target on Saia and gave the stock a sell rating in a research note on Monday, October 22nd. Deutsche Bank assumed coverage on Saia in a research note on Tuesday, September 4th. They set a hold rating and a $77.00 price target for the company. ValuEngine upgraded Saia from a sell rating to a hold rating in a research note on Thursday. Zacks Investment Research cut Saia from a buy rating to a hold rating in a research note on Saturday, August 4th. Finally, BidaskClub cut Saia from a sell rating to a strong sell rating in a research report on Tuesday, October 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $75.88.

Shares of Saia stock traded down $0.42 during trading hours on Thursday, hitting $63.78. 192,325 shares of the company were exchanged, compared to its average volume of 273,013. Saia has a 1 year low of $56.16 and a 1 year high of $87.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.07 and a quick ratio of 1.13. The stock has a market capitalization of $1.64 billion, a PE ratio of 18.12 and a beta of 1.01.

Saia (NASDAQ:SAIA) last released its quarterly earnings results on Wednesday, October 31st. The transportation company reported $1.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.03. Saia had a return on equity of 14.85% and a net margin of 7.96%. The business had revenue of $425.60 million during the quarter, compared to analysts’ expectations of $417.70 million. During the same quarter in the prior year, the business earned $0.55 earnings per share. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Saia will post 3.87 EPS for the current year.

In other Saia news, Director Jeffrey C. Ward sold 1,000 shares of the stock in a transaction on Monday, August 13th. The stock was sold at an average price of $76.01, for a total value of $76,010.00. Following the completion of the transaction, the director now owns 8,279 shares in the company, valued at $629,286.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.50% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Northern Trust Corp increased its position in shares of Saia by 5.5% in the second quarter. Northern Trust Corp now owns 822,188 shares of the transportation company’s stock valued at $66,474,000 after buying an additional 43,050 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Saia by 9.0% in the second quarter. Metropolitan Life Insurance Co. NY now owns 8,246 shares of the transportation company’s stock valued at $667,000 after buying an additional 679 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Saia in the second quarter valued at $439,000. Alps Advisors Inc. increased its position in shares of Saia by 14.0% in the second quarter. Alps Advisors Inc. now owns 8,633 shares of the transportation company’s stock valued at $698,000 after buying an additional 1,063 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Saia by 3.4% in the first quarter. Principal Financial Group Inc. now owns 201,421 shares of the transportation company’s stock valued at $15,137,000 after buying an additional 6,589 shares in the last quarter. Hedge funds and other institutional investors own 99.39% of the company’s stock.

About Saia

Saia, Inc, through its wholly-owned subsidiaries, operates as a transportation company in North America. The company provides regional and interregional less-than-truckload services for shipments between 100 and 10,000 pounds; truckload services; and other value-added services, including non-asset truckload, expedited, and logistics services.

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