Saia (NASDAQ:SAIA) Stock Price Down 10.7% Following Insider Selling

Saia, Inc. (NASDAQ:SAIA)’s stock price traded down 10.7% on Friday following insider selling activity. The stock traded as low as $408.99 and last traded at $405.29. 160,231 shares changed hands during trading, a decline of 56% from the average session volume of 362,837 shares. The stock had previously closed at $453.90.

Specifically, CAO Kelly W. Benton sold 460 shares of Saia stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $500.00, for a total value of $230,000.00. Following the completion of the sale, the chief accounting officer now directly owns 4,287 shares in the company, valued at $2,143,500. This trade represents a 9.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew J. Batteh sold 700 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.09, for a total transaction of $350,063.00. Following the transaction, the chief financial officer now owns 3,326 shares in the company, valued at approximately $1,663,299.34. The trade was a 17.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SAIA. JPMorgan Chase & Co. dropped their price target on shares of Saia from $566.00 to $558.00 and set an “overweight” rating for the company in a research note on Tuesday, February 4th. Raymond James cut their price target on Saia from $560.00 to $540.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Stephens reiterated an “overweight” rating and issued a $600.00 price objective on shares of Saia in a report on Thursday, February 6th. The Goldman Sachs Group increased their target price on Saia from $492.00 to $563.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Finally, Bank of America lowered their price target on Saia from $600.00 to $565.00 and set a “buy” rating for the company in a research note on Tuesday, February 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Saia currently has a consensus rating of “Moderate Buy” and an average price target of $535.41.

Saia Stock Performance

The company has a market capitalization of $10.59 billion, a P/E ratio of 29.84, a PEG ratio of 2.35 and a beta of 1.79. The stock’s fifty day moving average price is $482.92 and its 200-day moving average price is $465.82. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.57.

Saia (NASDAQ:SAIA) last released its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.03). Saia had a net margin of 11.28% and a return on equity of 16.63%. The business had revenue of $789.00 million during the quarter, compared to the consensus estimate of $794.69 million. During the same quarter in the prior year, the company earned $3.33 EPS. Saia’s quarterly revenue was up 5.0% on a year-over-year basis. As a group, research analysts anticipate that Saia, Inc. will post 15.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. CIBC Asset Management Inc increased its stake in shares of Saia by 3.5% during the third quarter. CIBC Asset Management Inc now owns 770 shares of the transportation company’s stock worth $337,000 after purchasing an additional 26 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Saia by 3.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 744 shares of the transportation company’s stock valued at $339,000 after buying an additional 26 shares in the last quarter. Core Wealth Advisors Inc. increased its position in Saia by 3.9% during the 4th quarter. Core Wealth Advisors Inc. now owns 700 shares of the transportation company’s stock worth $319,000 after buying an additional 26 shares during the period. Arizona State Retirement System lifted its holdings in shares of Saia by 0.4% during the fourth quarter. Arizona State Retirement System now owns 7,685 shares of the transportation company’s stock worth $3,502,000 after buying an additional 29 shares in the last quarter. Finally, Legacy Wealth Asset Management LLC grew its stake in shares of Saia by 4.1% in the third quarter. Legacy Wealth Asset Management LLC now owns 770 shares of the transportation company’s stock valued at $337,000 after acquiring an additional 30 shares in 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.