JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Saia (NASDAQ:SAIA) Stock

Saia (NASDAQ:SAIA) had its target price hoisted by analysts at JPMorgan Chase & Co. from $465.00 to $490.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 1.69% from the company’s current price.

Other research analysts also recently issued reports about the company. Wolfe Research upgraded Saia from a “peer perform” rating to an “outperform” rating in a research note on Tuesday, April 7th. Wells Fargo & Company boosted their target price on Saia from $445.00 to $490.00 and gave the stock an “equal weight” rating in a research note on Friday. Citigroup boosted their target price on Saia from $428.00 to $516.00 and gave the stock a “buy” rating in a research note on Monday, May 4th. Bank of America boosted their target price on Saia from $413.00 to $429.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. Finally, Stephens boosted their target price on Saia from $414.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $453.56.

Saia Price Performance

SAIA traded up $15.34 on Monday, hitting $481.85. 75,422 shares of the company’s stock traded hands, compared to its average volume of 504,628. The company’s 50 day simple moving average is $427.54 and its 200-day simple moving average is $375.60. The firm has a market cap of $12.85 billion, a price-to-earnings ratio of 50.61, a P/E/G ratio of 2.23 and a beta of 2.10. Saia has a one year low of $249.00 and a one year high of $489.43. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04.

Saia (NASDAQ:SAIA) last issued its earnings results on Thursday, April 30th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.04. The company had revenue of $806.23 million for the quarter, compared to the consensus estimate of $789.08 million. Saia had a return on equity of 9.60% and a net margin of 7.84%.The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $1.86 EPS. As a group, research analysts anticipate that Saia will post 11.39 EPS for the current year.

Institutional Investors Weigh In On Saia

Several hedge funds and other institutional investors have recently made changes to their positions in SAIA. Wilson Asset Management International PTY Ltd. purchased a new position in shares of Saia during the third quarter worth $1,538,000. Lincoln Capital Corp purchased a new position in Saia in the fourth quarter valued at $1,371,000. M&T Bank Corp boosted its holdings in Saia by 383.7% in the fourth quarter. M&T Bank Corp now owns 26,524 shares of the transportation company’s stock valued at $8,661,000 after purchasing an additional 21,041 shares during the period. Lecap Asset Management Ltd. purchased a new position in Saia in the fourth quarter valued at $1,692,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Saia by 5.1% in the third quarter. Envestnet Asset Management Inc. now owns 131,516 shares of the transportation company’s stock valued at $39,371,000 after purchasing an additional 6,410 shares during the period.

Saia Company Profile

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.