Saia (NASDAQ:SAIA) Upgraded by Bank of America to Buy Rating

Saia (NASDAQ:SAIA) was upgraded by equities researchers at Bank of America from a “neutral” rating to a “buy” rating in a report issued on Monday,Benzinga reports. The brokerage presently has a $502.00 price objective on the transportation company’s stock, up from their previous price objective of $499.00. Bank of America‘s target price points to a potential upside of 19.29% from the stock’s current price.

Several other analysts also recently commented on the stock. Stephens raised shares of Saia to a “strong-buy” rating in a research report on Wednesday, July 8th. Barclays lifted their price objective on shares of Saia from $400.00 to $500.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Saia from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Jefferies Financial Group raised their target price on Saia from $500.00 to $550.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, Wolfe Research upgraded Saia from a “peer perform” rating to an “outperform” rating in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $462.56.

Saia Price Performance

SAIA opened at $420.82 on Monday. The company has a market capitalization of $11.22 billion, a PE ratio of 44.20, a price-to-earnings-growth ratio of 2.00 and a beta of 2.13. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 1.52. Saia has a fifty-two week low of $249.32 and a fifty-two week high of $494.71. The business has a 50-day moving average of $448.10 and a 200-day moving average of $398.57.

Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.82 by $0.04. Saia had a return on equity of 9.60% and a net margin of 7.84%.The business had revenue of $806.23 million during the quarter, compared to analysts’ expectations of $789.08 million. During the same quarter in the previous year, the business posted $1.86 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts forecast that Saia will post 11.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Viking Global Investors LP bought a new position in Saia in the 2nd quarter worth approximately $226,770,000. Invesco Ltd. increased its stake in Saia by 1,300.4% during the third quarter. Invesco Ltd. now owns 701,418 shares of the transportation company’s stock valued at $209,976,000 after acquiring an additional 651,332 shares during the period. Norges Bank acquired a new position in Saia in the 4th quarter valued at approximately $130,411,000. Freestone Grove Partners LP acquired a new position in Saia in the 3rd quarter valued at approximately $56,305,000. Finally, First Trust Advisors LP lifted its position in shares of Saia by 33.0% in the 4th quarter. First Trust Advisors LP now owns 740,798 shares of the transportation company’s stock worth $241,885,000 after acquiring an additional 183,669 shares during the period.

About Saia

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.