Saia Inc. (SAIA) Sees Large Volume Increase
Saia Inc. (NASDAQ:SAIA) shares saw strong trading volume on Friday . 309,150 shares traded hands during trading, an increase of 80% from the previous session’s volume of 172,084 shares.The stock last traded at $28.49 and had previously closed at $26.73.
Several brokerages have recently weighed in on SAIA. Stifel Nicolaus reduced their price objective on shares of Saia from $36.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, June 1st. Zacks Investment Research downgraded shares of Saia from a “buy” rating to a “hold” rating in a research report on Tuesday, April 12th. Finally, Cowen and Company restated a “market perform” rating and set a $32.00 price objective (up previously from $29.00) on shares of Saia in a research report on Thursday, April 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $29.40.
The firm has a market capitalization of $722.60 million and a PE ratio of 13.82. The company’s 50 day moving average is $25.56 and its 200-day moving average is $25.90.
Saia (NASDAQ:SAIA) last posted its quarterly earnings results on Friday, July 29th. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by $0.03. The company had revenue of $312 million for the quarter, compared to analysts’ expectations of $309.75 million. During the same quarter last year, the firm earned $0.75 EPS. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. Analysts forecast that Saia Inc. will post $1.89 earnings per share for the current year.
Other hedge funds have recently modified their holdings of the company. Century Capital Management LLC increased its stake in shares of Saia by 16.1% in the fourth quarter. Century Capital Management LLC now owns 456,187 shares of the company’s stock valued at $10,150,000 after buying an additional 63,302 shares during the period. OppenheimerFunds Inc. increased its stake in shares of Saia by 43.7% in the fourth quarter. OppenheimerFunds Inc. now owns 450,394 shares of the company’s stock valued at $10,021,000 after buying an additional 137,031 shares during the period. Finally, California State Teachers Retirement System increased its stake in shares of Saia by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 46,488 shares of the company’s stock valued at $1,034,000 after buying an additional 764 shares during the period.
Saia, Inc is a transportation company. The Company provides a range of less-than-truckload (LTL), non-asset truckload, expedited and logistics services across the United States. The Company conducts its operations through its subsidiaries, such as Saia Motor Freight Line, LLC (Saia LTL Freight), Saia TL Plus, LLC (Saia TL Plus), Saia Sales, LLC (Saia Sales), Saia Logistics Services, LLC (Saia Logistics Services), MetroGo, Inc (MetroGo) and LinkEx, Inc (LinkEx).
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