Truist Securities Raises Saia (NASDAQ:SAIA) Price Target to $265.00


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Saia (NASDAQ:SAIA) had its target price lifted by research analysts at Truist Securities from $220.00 to $265.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the transportation company’s stock. Truist Securities’ target price indicates a potential upside of 10.74% from the stock’s current price.

SAIA has been the subject of a number of other reports. Bank of America reiterated an “underperform” rating and issued a $202.00 price objective (down from $208.00) on shares of Saia in a report on Wednesday, March 10th. Zacks Investment Research lowered Saia from a “buy” rating to a “hold” rating in a report on Tuesday, April 13th. Morgan Stanley boosted their target price on Saia from $115.00 to $125.00 and gave the stock an “underweight” rating in a report on Tuesday, April 13th. Truist increased their price target on Saia from $220.00 to $265.00 in a report on Thursday, April 15th. Finally, UBS Group initiated coverage on shares of Saia in a research report on Tuesday, January 19th. They issued a “neutral” rating and a $200.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $209.36.

Shares of NASDAQ SAIA opened at $239.31 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.02 and a quick ratio of 1.02. Saia has a one year low of $73.48 and a one year high of $247.60. The business’s 50-day moving average price is $226.57 and its two-hundred day moving average price is $190.04. The company has a market capitalization of $6.30 billion, a P/E ratio of 53.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.20.

Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Sunday, February 7th. The transportation company reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.21. The business had revenue of $476.50 million during the quarter, compared to analysts’ expectations of $474.61 million. Saia had a return on equity of 13.63% and a net margin of 6.68%. The firm’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.81 EPS. On average, equities analysts anticipate that Saia will post 4.98 EPS for the current year.

In other news, CFO Douglas L. Col sold 3,710 shares of Saia stock in a transaction that occurred on Friday, February 12th. The stock was sold at an average price of $203.34, for a total transaction of $754,391.40. Following the sale, the chief financial officer now owns 5,409 shares of the company’s stock, valued at approximately $1,099,866.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard D. Odell sold 24,120 shares of the business’s stock in a transaction that occurred on Friday, February 12th. The shares were sold at an average price of $206.45, for a total value of $4,979,574.00. Following the sale, the director now owns 37,509 shares in the company, valued at $7,743,733.05. The disclosure for this sale can be found here. Insiders sold a total of 55,190 shares of company stock worth $11,260,028 over the last 90 days. Company insiders own 1.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Select Equity Group L.P. raised its stake in shares of Saia by 1,093.0% in the 4th quarter. Select Equity Group L.P. now owns 835,602 shares of the transportation company’s stock valued at $151,077,000 after buying an additional 765,562 shares in the last quarter. Norges Bank bought a new stake in Saia in the fourth quarter valued at about $62,669,000. Vaughan Nelson Investment Management L.P. raised its position in Saia by 93.7% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 686,022 shares of the transportation company’s stock worth $124,034,000 after purchasing an additional 331,841 shares in the last quarter. Artemis Investment Management LLP raised its position in Saia by 84.2% in the fourth quarter. Artemis Investment Management LLP now owns 349,760 shares of the transportation company’s stock worth $63,307,000 after purchasing an additional 159,865 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in Saia by 4.0% during the fourth quarter. BlackRock Inc. now owns 3,999,105 shares of the transportation company’s stock worth $723,039,000 after purchasing an additional 154,491 shares during the period.

About Saia

Saia, Inc, through 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. As of December 31, 2020, it operated 174 owned and leased facilities; and owned approximately 5,700 tractors and 17,400 trailers.

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