BidaskClub Downgrades Saia, Inc. (SAIA) to Hold
BidaskClub downgraded shares of Saia, Inc. (NASDAQ:SAIA) from a buy rating to a hold rating in a report published on Tuesday.
Several other research firms have also issued reports on SAIA. Cowen and Company lifted their price objective on Saia from $50.00 to $55.00 and gave the company a market perform rating in a research note on Monday. Stifel Nicolaus reissued a hold rating and set a $48.00 price objective (up previously from $44.00) on shares of Saia in a research note on Monday. Finally, Zacks Investment Research lowered Saia from a buy rating to a hold rating in a research note on Wednesday, June 14th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Saia currently has a consensus rating of Buy and an average target price of $52.33.
Saia (NASDAQ SAIA) traded up 0.66% during trading on Tuesday, hitting $53.45. The stock had a trading volume of 165,613 shares. The stock has a market capitalization of $1.35 billion, a P/E ratio of 25.93 and a beta of 0.78. The company has a 50-day moving average of $51.44 and a 200-day moving average of $47.58. Saia has a 52 week low of $27.96 and a 52 week high of $58.00.
Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Friday, July 28th. The transportation company reported $0.68 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.06. The company had revenue of $358.20 million during the quarter, compared to analyst estimates of $348.53 million. Saia had a return on equity of 10.84% and a net margin of 4.12%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company earned $0.52 earnings per share. On average, equities analysts expect that Saia will post $2.21 earnings per share for the current fiscal year.
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In other Saia news, Director Herbert A. Trucksess III sold 15,000 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $54.33, for a total transaction of $814,950.00. Following the sale, the director now owns 183,442 shares in the company, valued at $9,966,403.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard D. Odell sold 6,400 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $53.71, for a total value of $343,744.00. Following the sale, the chief executive officer now owns 9,034 shares in the company, valued at approximately $485,216.14. The disclosure for this sale can be found here. Insiders have sold 54,512 shares of company stock worth $2,948,508 in the last 90 days. Company insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAIA. State Board of Administration of Florida Retirement System increased its position in Saia by 20.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 21,456 shares of the transportation company’s stock valued at $1,101,000 after buying an additional 3,580 shares in the last quarter. Turner Investments LLC bought a new position in Saia during the second quarter valued at approximately $359,000. BNP Paribas Arbitrage SA increased its position in Saia by 33.6% in the second quarter. BNP Paribas Arbitrage SA now owns 9,106 shares of the transportation company’s stock valued at $467,000 after buying an additional 2,290 shares in the last quarter. Legal & General Group Plc increased its position in Saia by 9.2% in the second quarter. Legal & General Group Plc now owns 49,912 shares of the transportation company’s stock valued at $2,560,000 after buying an additional 4,201 shares in the last quarter. Finally, Denver Investment Advisors LLC increased its position in Saia by 8.3% in the second quarter. Denver Investment Advisors LLC now owns 10,835 shares of the transportation company’s stock valued at $556,000 after buying an additional 830 shares in the last quarter. Hedge funds and other institutional investors own 97.29% of the company’s stock.
Saia Company Profile
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.
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