Saia (SAIA) Given New $48.00 Price Target at Morgan Stanley

Saia (NASDAQ:SAIA) had its price objective cut by Morgan Stanley from $50.00 to $48.00 in a research note published on Friday. They currently have an underweight rating on the transportation company’s stock.

Other research analysts also recently issued research reports about the stock. BidaskClub upgraded shares of Saia from a buy rating to a strong-buy rating in a research note on Thursday, March 15th. Cowen upped their target price on shares of Saia from $61.00 to $80.00 and gave the stock a buy rating in a research note on Monday, February 5th. Stephens reiterated a neutral rating on shares of Saia in a research note on Friday, February 2nd. Stifel Nicolaus upped their target price on shares of Saia from $60.00 to $61.00 and gave the stock a hold rating in a research note on Wednesday, December 13th. Finally, Buckingham Research began coverage on shares of Saia in a research note on Monday, March 26th. They issued a buy rating and a $93.00 target price on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Saia has an average rating of Hold and an average target price of $72.40.

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Shares of NASDAQ SAIA traded down $2.25 during midday trading on Friday, hitting $72.00. The stock had a trading volume of 268,614 shares, compared to its average volume of 225,206. The company has a market cap of $1,906.48, a PE ratio of 33.75 and a beta of 0.80. Saia has a 52 week low of $41.28 and a 52 week high of $80.25. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.22.

Saia (NASDAQ:SAIA) last issued its earnings results on Friday, February 2nd. The transportation company reported $0.53 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.53. The firm had revenue of $353.20 million for the quarter, compared to the consensus estimate of $343.26 million. Saia had a net margin of 6.61% and a return on equity of 10.80%. The business’s revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. analysts forecast that Saia will post 3.71 earnings per share for the current fiscal year.

In related news, VP Frederick J. Holzgrefe III sold 17,361 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $73.70, for a total transaction of $1,279,505.70. Following the transaction, the vice president now owns 34,565 shares in the company, valued at $2,547,440.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard D. Odell sold 53,171 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $74.02, for a total transaction of $3,935,717.42. Following the transaction, the chief executive officer now owns 12,972 shares in the company, valued at approximately $960,187.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 86,109 shares of company stock worth $6,365,332. 1.50% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of SAIA. Alliancebernstein L.P. lifted its position in Saia by 16.6% during the fourth quarter. Alliancebernstein L.P. now owns 541,989 shares of the transportation company’s stock valued at $38,346,000 after purchasing an additional 77,224 shares during the period. BlackRock Inc. increased its holdings in Saia by 2.3% during the fourth quarter. BlackRock Inc. now owns 3,257,409 shares of the transportation company’s stock valued at $230,461,000 after buying an additional 71,934 shares during the last quarter. Jennison Associates LLC increased its holdings in Saia by 27.1% during the fourth quarter. Jennison Associates LLC now owns 327,223 shares of the transportation company’s stock valued at $23,151,000 after buying an additional 69,858 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Saia by 5.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,017,007 shares of the transportation company’s stock valued at $71,953,000 after buying an additional 52,587 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Saia by 15.9% during the third quarter. Ameriprise Financial Inc. now owns 255,708 shares of the transportation company’s stock valued at $16,021,000 after buying an additional 35,141 shares during the last quarter. Institutional investors own 99.64% of the company’s stock.

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About Saia

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.

Analyst Recommendations for Saia (NASDAQ:SAIA)

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