JPMorgan Chase & Co. Cuts Saia (NASDAQ:SAIA) Price Target to $490.00

Saia (NASDAQ:SAIA) had its price objective cut by JPMorgan Chase & Co. from $498.00 to $490.00 in a report published on Friday morning,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

A number of other analysts have also issued reports on SAIA. Raymond James Financial dropped their price target on shares of Saia from $477.00 to $475.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Citigroup reduced their price objective on shares of Saia from $488.00 to $423.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Saia in a report on Monday, August 3rd. Bank of America reissued a “buy” rating on shares of Saia in a research report on Friday. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $476.00 target price on shares of Saia in a research note on Thursday, July 30th. Thirteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $449.22.

Saia Stock Performance

Shares of SAIA opened at $357.94 on Friday. Saia has a one year low of $249.32 and a one year high of $494.71. The stock has a 50-day moving average price of $387.44 and a 200 day moving average price of $404.39. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $9.55 billion, a P/E ratio of 34.55, a P/E/G ratio of 1.59 and a beta of 2.14.

Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Thursday, July 30th. The transportation company reported $3.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.38 by $0.13. The company had revenue of $956.49 million for the quarter, compared to the consensus estimate of $956.20 million. Saia had a return on equity of 10.21% and a net margin of 8.19%.Saia’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.67 EPS. Sell-side analysts forecast that Saia will post 11.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Saia

Several large investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its position in shares of Saia by 41,005.2% in the 2nd quarter. California State Teachers Retirement System now owns 12,708,503 shares of the transportation company’s stock worth $5,352,313,000 after buying an additional 12,677,586 shares during the last quarter. Viking Global Investors LP bought a new stake in shares of Saia during the 2nd quarter valued at about $226,770,000. Invesco Ltd. grew its position in shares of Saia by 1,300.4% during the 3rd quarter. Invesco Ltd. now owns 701,418 shares of the transportation company’s stock valued at $209,976,000 after buying an additional 651,332 shares during the last quarter. Norges Bank acquired a new stake in Saia during the fourth quarter worth about $130,411,000. Finally, Jupiter Topco LLC acquired a new stake in Saia during the second quarter worth about $140,979,000.

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.