Saia (NASDAQ:SAIA) Lowered to “Neutral” Rating by Bank of America

Saia (NASDAQ:SAIA) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a report released on Monday,Briefing.com Automated Import reports. They currently have a $251.00 price target on the transportation company’s stock. Bank of America‘s target price points to a potential upside of 2.18% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets cut Saia from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $455.00 to $285.00 in a report on Friday. Barclays cut their target price on shares of Saia from $535.00 to $475.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. Cowen reissued a “hold” rating on shares of Saia in a research note on Tuesday, February 4th. UBS Group reduced their target price on Saia from $557.00 to $422.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Saia in a research report on Friday, March 7th. They set a “buy” rating and a $570.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Saia presently has a consensus rating of “Moderate Buy” and a consensus target price of $462.00.

Saia Stock Up 0.0 %

SAIA stock opened at $245.64 on Monday. The business’s 50-day simple moving average is $362.99 and its 200 day simple moving average is $449.21. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 0.08. The company has a market cap of $6.54 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 2.24 and a beta of 1.99. Saia has a twelve month low of $229.21 and a twelve month high of $624.55.

Saia (NASDAQ:SAIA) last released its quarterly earnings data on Friday, April 25th. The transportation company reported $1.86 earnings per share for the quarter, missing the consensus estimate of $2.77 by ($0.91). Saia had a net margin of 11.28% and a return on equity of 16.63%. The company had revenue of $787.58 million during the quarter, compared to the consensus estimate of $806.18 million. During the same quarter in the prior year, the company posted $3.38 earnings per share. On average, research analysts anticipate that Saia will post 15.46 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Frederick J. Holzgrefe III sold 7,534 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $487.34, for a total transaction of $3,671,619.56. Following the completion of the sale, the chief executive officer now directly owns 17,645 shares in the company, valued at $8,599,114.30. This represents a 29.92 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Patrick D. Sugar sold 799 shares of Saia stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $493.74, for a total value of $394,498.26. Following the completion of the transaction, the executive vice president now owns 8,629 shares in the company, valued at approximately $4,260,482.46. This represents a 8.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,493 shares of company stock worth $4,646,181. Corporate insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Saia

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. KBC Group NV lifted its stake in shares of Saia by 8.6% in the 1st quarter. KBC Group NV now owns 1,187 shares of the transportation company’s stock valued at $415,000 after acquiring an additional 94 shares during the last quarter. Pacific Global Investment Management Co. increased its holdings in shares of Saia by 8.4% during the first quarter. Pacific Global Investment Management Co. now owns 3,905 shares of the transportation company’s stock valued at $1,365,000 after acquiring an additional 303 shares in the last quarter. Golden State Wealth Management LLC raised its position in shares of Saia by 127.0% during the first quarter. Golden State Wealth Management LLC now owns 84 shares of the transportation company’s stock worth $29,000 after purchasing an additional 47 shares during the period. Sheets Smith Wealth Management lifted its holdings in shares of Saia by 4.0% in the 1st quarter. Sheets Smith Wealth Management now owns 2,506 shares of the transportation company’s stock worth $876,000 after purchasing an additional 97 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in Saia by 5.7% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 11,002 shares of the transportation company’s stock valued at $3,844,000 after purchasing an additional 591 shares during the period.

Saia Company Profile

Saia, Inc, together with 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. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.