Zacks Investment Research lowered shares of Saia, Inc. (NASDAQ:SAIA) from a buy rating to a hold rating in a research report released on Wednesday morning.
According to Zacks, “SCS Trans Inc is a leading transportation company that provides a variety of trucking transportation and supply chain solutions to a broad range of industries, including the retail, petrochemical and manufacturing industries. We serve a wide variety of customers by offering regional, interregional and national LTL services and selected TL services across the United States.Saia customers can choose from a wide variety of service options including overnight and second-day regional LTL shipping and a guaranteed/expedited delivery “
Separately, Cowen and Company lifted their price target on Saia from $49.00 to $50.00 and gave the company a market perform rating in a report on Monday, May 1st. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Saia presently has a consensus rating of Buy and an average price target of $52.20.
Shares of Saia (SAIA) opened at 49.45 on Wednesday. The company has a 50 day moving average of $46.70 and a 200-day moving average of $46.28. The firm has a market cap of $1.25 billion, a PE ratio of 26.18 and a beta of 0.77. Saia has a 12-month low of $23.27 and a 12-month high of $52.35.
Saia (NASDAQ:SAIA) last released its quarterly earnings results on Friday, April 28th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.03. Saia had a return on equity of 10.27% and a net margin of 3.92%. The business had revenue of $317 million during the quarter, compared to analysts’ expectations of $306.80 million. During the same period in the previous year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities research analysts forecast that Saia will post $2.13 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAIA. State of Alaska Department of Revenue boosted its position in Saia by 2.9% in the first quarter. State of Alaska Department of Revenue now owns 2,810 shares of the transportation company’s stock worth $124,000 after buying an additional 80 shares in the last quarter. O Shaughnessy Asset Management LLC purchased a new stake in shares of Saia during the fourth quarter valued at $130,000. Envestnet Asset Management Inc. boosted its stake in shares of Saia by 169.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,087 shares of the transportation company’s stock valued at $180,000 after buying an additional 2,569 shares in the last quarter. Bessemer Group Inc. purchased a new stake in shares of Saia during the fourth quarter valued at $199,000. Finally, Trexquant Investment LP purchased a new stake in shares of Saia during the fourth quarter valued at $216,000. 97.70% of the stock is owned by institutional investors and hedge funds.
Saia Company Profile
Saia, Inc is a transportation company. The Company provides regional and interregional less-than-truckload (LTL) services. The Company also offers a range of other value-added services, including non-asset truckload, expedited and logistics services across the United States. The Company’s subsidiary Saia Motor Freight Line, LLC (Saia LTL Freight) is a LTL carrier.
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