Raymond James Cuts Saia (NASDAQ:SAIA) Price Target to $455.00

Saia (NASDAQ:SAIA) had its price objective reduced by Raymond James from $540.00 to $455.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Raymond James currently has an outperform rating on the transportation company’s stock.

A number of other brokerages have also weighed in on SAIA. Cowen reiterated a “hold” rating on shares of Saia in a research note on Tuesday, February 4th. Citigroup lowered their target price on Saia from $544.00 to $498.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. Susquehanna cut their price target on Saia from $540.00 to $410.00 and set a “neutral” rating for the company in a research note on Monday, March 31st. Deutsche Bank Aktiengesellschaft began coverage on shares of Saia in a research note on Friday, March 7th. They issued a “buy” rating and a $570.00 price objective on the stock. Finally, TD Cowen boosted their target price on shares of Saia from $456.00 to $478.00 and gave the company a “hold” rating in a research report on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Saia currently has a consensus rating of “Moderate Buy” and a consensus target price of $486.83.

Saia Price Performance

NASDAQ SAIA opened at $351.45 on Tuesday. Saia has a one year low of $287.50 and a one year high of $624.55. The stock has a 50-day moving average of $399.37 and a 200 day moving average of $457.43. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.57. The company has a market capitalization of $9.36 billion, a price-to-earnings ratio of 26.01, a PEG ratio of 2.24 and a beta of 1.99.

Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Friday, February 7th. The transportation company reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.03). Saia had a return on equity of 16.63% and a net margin of 11.28%. The company had revenue of $789.00 million during the quarter, compared to the consensus estimate of $794.69 million. During the same quarter in the prior year, the firm earned $3.33 earnings per share. The business’s revenue was up 5.0% compared to the same quarter last year. On average, sell-side analysts forecast that Saia will post 15.46 EPS for the current year.

Insider Transactions at Saia

In other Saia news, EVP Patrick D. Sugar sold 799 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was 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 directly owns 8,629 shares in the company, valued at $4,260,482.46. This represents a 8.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Frederick J. Holzgrefe III sold 7,534 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $487.34, for a total transaction of $3,671,619.56. Following the sale, the chief executive officer now directly owns 17,645 shares of the company’s stock, valued at approximately $8,599,114.30. This trade represents a 29.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,493 shares of company stock valued at $4,646,181 over the last 90 days. Company insiders own 0.30% of the company’s stock.

Institutional Investors Weigh In On Saia

Large investors have recently made changes to their positions in the company. Oddo BHF Asset Management Sas purchased a new position in Saia during the 3rd quarter valued at approximately $1,408,000. Highview Capital Management LLC DE purchased a new position in shares of Saia in the fourth quarter valued at $1,324,000. Y Intercept Hong Kong Ltd bought a new stake in Saia in the fourth quarter worth $3,363,000. Charles Schwab Investment Management Inc. raised its stake in Saia by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 226,137 shares of the transportation company’s stock valued at $103,057,000 after purchasing an additional 4,972 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Saia by 13.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,804 shares of the transportation company’s stock valued at $3,101,000 after purchasing an additional 788 shares during the last quarter.

About Saia

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.