JPMorgan Chase & Co. Trims Saia (NASDAQ:SAIA) Target Price to $580.00

Saia (NASDAQ:SAIA) had its target price cut by JPMorgan Chase & Co. from $676.00 to $580.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets lowered their price target on shares of Saia from $575.00 to $490.00 and set a market perform rating on the stock in a report on Monday. Bank of America cut their price target on shares of Saia from $645.00 to $484.00 and set a buy rating for the company in a report on Monday. Susquehanna boosted their price target on shares of Saia from $500.00 to $625.00 and gave the company a positive rating in a research report on Thursday, February 8th. The Goldman Sachs Group increased their price objective on Saia from $504.00 to $567.00 and gave the stock a neutral rating in a research report on Thursday, April 11th. Finally, TD Cowen reduced their target price on Saia from $528.00 to $473.00 and set a hold rating for the company in a research report on Monday. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $481.50.

Saia Stock Performance

Shares of SAIA opened at $416.10 on Monday. The stock has a 50 day moving average of $566.04 and a 200 day moving average of $479.86. The company has a current ratio of 1.23, a quick ratio of 2.01 and a debt-to-equity ratio of 0.04. Saia has a 12 month low of $266.91 and a 12 month high of $628.34. The company has a market capitalization of $11.06 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 1.39 and a beta of 1.62.

Saia (NASDAQ:SAIA) last issued its quarterly earnings results on Friday, April 26th. The transportation company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.05). The company had revenue of $754.80 million for the quarter, compared to analysts’ expectations of $772.36 million. Saia had a return on equity of 19.53% and a net margin of 12.42%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.85 EPS. As a group, sell-side analysts forecast that Saia will post 16.13 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Frederick J. Holzgrefe III sold 7,500 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $533.46, for a total transaction of $4,000,950.00. Following the transaction, the chief executive officer now owns 14,248 shares in the company, valued at approximately $7,600,738.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Saia news, VP Rohit Lal sold 2,870 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $536.55, for a total value of $1,539,898.50. Following the completion of the sale, the vice president now directly owns 8,482 shares in the company, valued at $4,551,017.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Frederick J. Holzgrefe III sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $533.46, for a total value of $4,000,950.00. Following the transaction, the chief executive officer now owns 14,248 shares in the company, valued at approximately $7,600,738.08. The disclosure for this sale can be found here. Insiders have sold a total of 27,699 shares of company stock valued at $14,966,813 over the last three months. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Saia

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its holdings in Saia by 1.9% in the third quarter. Commonwealth Equity Services LLC now owns 1,549 shares of the transportation company’s stock worth $618,000 after acquiring an additional 29 shares in the last quarter. Raymond James & Associates grew its position in Saia by 0.7% during the 3rd quarter. Raymond James & Associates now owns 92,450 shares of the transportation company’s stock valued at $36,855,000 after purchasing an additional 653 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Saia by 331.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 3,817 shares of the transportation company’s stock valued at $1,522,000 after purchasing an additional 2,932 shares during the last quarter. New York State Teachers Retirement System increased its stake in Saia by 3.9% during the 3rd quarter. New York State Teachers Retirement System now owns 24,175 shares of the transportation company’s stock valued at $9,637,000 after purchasing an additional 900 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Saia by 16.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,216 shares of the transportation company’s stock worth $2,079,000 after buying an additional 728 shares during the last quarter.

Saia Company Profile

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.