Saia (NASDAQ:SAIA) Stock Breaks Below 50 Day Moving Average – Here’s Why

Saia, Inc. (NASDAQ:SAIA)’s stock price passed 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.

Wall Street Analysts Forecast Growth

SAIA has been the subject of a number of research reports. The Goldman Sachs Group reiterated a “buy” rating and issued a $476.00 price objective on shares of Saia in a report on Thursday, July 30th. Barclays reduced their target price on shares of Saia from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Saia from $463.00 to $468.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Morgan Stanley decreased their price target on shares of Saia from $295.00 to $285.00 and set an “underweight” rating for the company in a research report on Friday, July 31st. Finally, Susquehanna dropped their price target on shares of Saia from $412.00 to $360.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Fourteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $432.26.

Saia Stock Performance

The stock has a 50 day moving average of $341.08 and a 200 day moving average of $387.17. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $9.06 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 2.59 and a beta of 2.09.

Saia (NASDAQ:SAIA) last announced its earnings results on Thursday, October 29th. The transportation company reported $3.41 EPS for the quarter, beating the consensus estimate of $3.30 by $0.11. The business had revenue of $982.45 million for 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 firm’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.81 earnings per share. As a group, analysts predict that Saia, Inc. will post 11.51 EPS for the current year.

Institutional Investors Weigh In On Saia

Institutional investors have recently modified their holdings of the company. Stephens Investment Management Group LLC raised its stake in Saia by 5.6% during 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 during the last quarter. Bridges Investment Management Inc. lifted its holdings in Saia by 1.9% in the third quarter. Bridges Investment Management Inc. now owns 6,279 shares of the transportation company’s stock valued at $2,096,000 after buying an additional 117 shares during the period. Cercano Management LLC bought a new stake in Saia during the third quarter valued at $1,203,000. 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 valued at $4,406,000 after acquiring an additional 1,983 shares during the last quarter. Finally, Carlson Capital L.P. boosted its position in Saia by 21.5% during the third quarter. Carlson Capital L.P. now owns 9,444 shares of the transportation company’s stock valued at $3,152,000 after acquiring an additional 1,672 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.