Saia (NASDAQ:SAIA) Price Target Cut to $393.00 by Analysts at TD Cowen

Saia (NASDAQ:SAIA) had its price objective reduced by investment analysts at TD Cowen from $400.00 to $393.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the transportation company’s stock. TD Cowen‘s target price indicates a potential upside of 14.04% from the stock’s current price.

SAIA has been the topic of several other research reports. Barclays lowered their target price on shares of Saia from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. JPMorgan Chase & Co. cut their target price on shares of Saia from $490.00 to $463.00 and set an “overweight” rating on the stock in a report on Monday, October 5th. Wells Fargo & Company reduced their price objective on shares of Saia from $400.00 to $370.00 and set an “equal weight” rating for the company in a research note on Friday. Susquehanna lowered their target price 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. Finally, Bank of America restated a “buy” rating on shares of Saia in a report on Friday, September 4th. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $435.63.

Saia Stock Up 0.4%

Shares of SAIA traded up $1.54 during mid-day trading on Friday, hitting $344.61. The company’s stock had a trading volume of 560,367 shares, compared to its average volume of 463,559. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 33.26, a PEG ratio of 2.62 and a beta of 2.19. Saia has a 52-week low of $249.32 and a 52-week high of $494.71. The company’s 50-day moving average is $342.33 and its 200-day moving average is $387.61.

Saia (NASDAQ:SAIA) last released its quarterly 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. Saia had a net margin of 8.19% and a return on equity of 10.21%. The business had revenue of $982.45 million during the quarter, compared to analyst estimates of $966.98 million. During the same period in the prior year, the firm posted $2.81 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. On average, equities research analysts forecast that Saia will post 11.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Saia

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in shares of Saia by 6.6% during the 2nd quarter. BlackRock Inc. now owns 2,545,731 shares of the transportation company’s stock valued at $1,072,160,000 after purchasing an additional 156,628 shares in the last quarter. State Street Corp raised its stake in shares of Saia by 3.4% in the second quarter. State Street Corp now owns 854,398 shares of the transportation company’s stock valued at $359,862,000 after acquiring an additional 28,397 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Saia by 8.6% during the first quarter. First Trust Advisors LP now owns 804,284 shares of the transportation company’s stock worth $282,529,000 after purchasing an additional 63,486 shares in the last quarter. Jupiter Topco LLC acquired a new position in Saia during the 2nd quarter valued at about $140,979,000. Finally, William Blair Investment Management LLC bought a new position in shares of Saia in the 2nd quarter worth $109,089,000.

More Saia News

Here are the key news stories impacting Saia this week:

• Positive Sentiment: Quarterly results exceeded expectations: Saia reported record third-quarter revenue of $982.5 million, up 17% year over year, and diluted EPS of $3.41, topping analyst estimates near $3.30–$3.31. Operating income rose 3.1% to $122.3 million. Saia Q3 earnings and revenues top estimates
• Positive Sentiment: Expansion is contributing to growth: Record LTL tonnage per workday increased 8.9%, while revenue per shipment excluding fuel surcharges rose 5.8%, suggesting network expansion, pricing and mix improvements are helping Saia gain volume and market share. Saia expansion terminals deliver improved Q3 results
• Positive Sentiment: $250 million buyback authorized: The repurchase program signals management’s confidence in Saia’s cash generation and could support per-share results. Year-to-date free cash flow exceeded $240 million, while the company ended the quarter with $202.5 million of cash and $100 million of debt. Saia reports Q3 revenue and announces repurchase program
• Neutral Sentiment: Board strengthened: Transportation and logistics veteran Todd C. Fowler joined Saia’s board and Audit Committee, adding capital-markets, autonomous-trucking and supply-chain expertise. Saia appoints Todd Fowler to board
• Negative Sentiment: Wells Fargo lowered its price target: The firm cut its target from $400 to $370 and assigned an “equal weight” rating, reflecting a more cautious view despite the remaining implied upside. Wells Fargo analyst recommendations
• Negative Sentiment: Margins remain a concern: The operating ratio increased to 87.6% from 85.9% a year earlier, indicating that costs are rising faster than operating income and could temper the benefit of strong revenue growth.

Saia Company Profile

Saia, Inc is a transportation and logistics company headquartered in Johns Creek, Georgia. Through its primary subsidiary, Saia LTL Freight, the company provides less-than-truckload transportation, moving palletized and other freight shipments that do not require a full trailer. Its services include standard and time-definite delivery, expedited transportation, guaranteed services, and shipment tracking.

Saia also provides non-asset-based logistics services through Saia Logistics Services, which helps customers arrange freight transportation using third-party carriers.