Bank of America Increases Saia (NASDAQ:SAIA) Price Target to $460.00

Saia (NASDAQ:SAIA) had its target price lifted by investment analysts at Bank of America from $443.00 to $460.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Bank of America‘s price objective would indicate a potential upside of 14.32% from the company’s current price.

SAIA has been the topic of a number of other research reports. Susquehanna cut their price objective on shares of Saia from $610.00 to $550.00 and set a “positive” rating on the stock in a research note on Wednesday, June 12th. Benchmark decreased their price objective on Saia from $575.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Stifel Nicolaus upgraded Saia from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $526.00 to $475.00 in a research report on Friday, May 24th. Barclays reduced their price target on shares of Saia from $575.00 to $515.00 and set an “overweight” rating on the stock in a research report on Monday, July 29th. Finally, BMO Capital Markets reduced their price target on shares of Saia from $500.00 to $480.00 and set a “market perform” rating on the stock in a research note on Monday, July 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $476.73.

Saia Price Performance

SAIA stock opened at $402.39 on Thursday. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.08. Saia has a 12 month low of $341.26 and a 12 month high of $628.34. The stock has a market cap of $10.70 billion, a PE ratio of 29.16, a P/E/G ratio of 1.81 and a beta of 1.74. The company has a 50-day moving average price of $419.86 and a 200 day moving average price of $471.89.

Saia (NASDAQ:SAIA) last posted its earnings results on Friday, July 26th. The transportation company reported $3.83 earnings per share for the quarter, missing analysts’ consensus estimates of $4.00 by ($0.17). Saia had a return on equity of 19.14% and a net margin of 12.26%. The company had revenue of $823.24 million for the quarter, compared to analysts’ expectations of $821.60 million. Equities research analysts anticipate that Saia will post 13.88 earnings per share for the current year.

Institutional Trading of Saia

Several large investors have recently modified their holdings of the business. Cim LLC raised its position in shares of Saia by 7.6% in the 2nd quarter. Cim LLC now owns 594 shares of the transportation company’s stock worth $282,000 after buying an additional 42 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Saia during the second quarter valued at about $2,227,000. Brown Financial Advisors purchased a new position in shares of Saia during the 2nd quarter valued at approximately $312,000. Clearbridge Investments LLC raised its stake in shares of Saia by 67.2% in the 2nd quarter. Clearbridge Investments LLC now owns 79,283 shares of the transportation company’s stock valued at $37,603,000 after purchasing an additional 31,876 shares in the last quarter. Finally, Truist Financial Corp raised its position in shares of Saia by 25.6% during the 2nd quarter. Truist Financial Corp now owns 27,715 shares of the transportation company’s stock valued at $13,145,000 after acquiring an additional 5,643 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.