Saia (NASDAQ:SAIA) Stock Price Crosses Below Fifty Day Moving Average – Here’s Why

Saia, Inc. (NASDAQ:SAIA)’s share price crossed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $341.08 and traded as low as $331.22. Saia shares last traded at $339.48, with a volume of 261,385 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SAIA. Stifel Nicolaus reduced their target price on Saia from $438.00 to $423.00 and set a “buy” rating for the company in a research note on Thursday, October 8th. Citigroup lifted their price target on shares of Saia from $429.00 to $434.00 and gave the company a “buy” rating in a research note on Friday, October 30th. Morgan Stanley cut their price target on shares of Saia from $295.00 to $285.00 and set an “underweight” rating for the company in a report on Friday, July 31st. Bank of America reissued a “buy” rating on shares of Saia in a report on Friday, September 4th. Finally, Sanford C. Bernstein began coverage on shares of Saia in a research report on Thursday, September 10th. They set an “outperform” rating and a $439.00 price objective for the company. Fourteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Saia has an average rating of “Moderate Buy” and a consensus price target of $432.26.

Saia Trading Down 2.5%

The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 2.57 and a beta of 2.09. The company has a fifty day moving average of $341.22 and a 200-day moving average of $387.04.

Saia (NASDAQ:SAIA) last announced its earnings results on Thursday, October 29th. The transportation company reported $3.41 EPS for the quarter, beating analysts’ consensus estimates of $3.30 by $0.11. The business had revenue of $982.45 million during the quarter, compared to analysts’ expectations of $966.98 million. Saia had a return on equity of 10.53% and a net margin of 8.01%. The business’s revenue was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.81 earnings per share. As a group, equities research analysts anticipate that Saia, Inc. will post 11.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Saia by 1.4% in the third quarter. State Street Corp now owns 866,062 shares of the transportation company’s stock valued at $289,022,000 after buying an additional 11,664 shares during the last quarter. Stephens Investment Management Group LLC lifted its stake in shares of Saia by 5.6% in the third quarter. Stephens Investment Management Group LLC now owns 170,323 shares of the transportation company’s stock worth $56,844,000 after buying an additional 8,964 shares in the last quarter. Bridges Investment Management Inc. lifted its stake in shares of Saia by 1.9% in the third quarter. Bridges Investment Management Inc. now owns 6,279 shares of the transportation company’s stock worth $2,096,000 after buying an additional 117 shares in the last quarter. Cercano Management LLC acquired a new position in Saia during the third quarter worth about $1,203,000. Finally, Intech Investment Management LLC boosted its position in Saia by 17.7% during the third quarter. Intech Investment Management LLC now owns 13,203 shares of the transportation company’s stock worth $4,406,000 after acquiring an additional 1,983 shares during the last quarter.

Saia Company Profile

Saia, Inc. is a transportation company best known for its less-than-truckload (LTL) freight services, which combine shipments from multiple customers in a single truck. Its offerings include regional and interregional freight transportation, expedited and guaranteed services, and logistics solutions. Founded in 1924 in Houma, Louisiana, Saia has grown from a regional carrier into a network serving the contiguous United States. The company is headquartered in Johns Creek, Georgia, and also arranges service to Canada and Mexico through its transportation network and partners.