JPMorgan Chase & Co. Cuts Saia (NASDAQ:SAIA) Price Target to $463.00

Saia (NASDAQ:SAIA) had its target price reduced by JPMorgan Chase & Co. from $490.00 to $463.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the transportation company’s stock.

Several other brokerages also recently issued reports on SAIA. Weiss Ratings reissued a “hold (c)” rating on shares of Saia in a research note on Monday, August 3rd. TD Cowen lowered their target price on Saia from $445.00 to $400.00 and set a “hold” rating on the stock in a research note on Friday, July 31st. Sanford C. Bernstein began coverage on Saia in a report on Thursday, September 10th. They issued an “outperform” rating and a $439.00 target price on the stock. Morgan Stanley reduced their price target on shares of Saia from $295.00 to $285.00 and set an “underweight” rating for the company in a research report on Friday, July 31st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $476.00 price target on shares of Saia in a report on Thursday, July 30th. Fourteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Saia presently has an average rating of “Moderate Buy” and a consensus price target of $441.79.

Saia Price Performance

Shares of NASDAQ:SAIA opened at $334.72 on Monday. The company’s fifty day moving average is $351.37 and its two-hundred day moving average is $399.70. The company has a market cap of $8.93 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 2.76 and a beta of 2.19. Saia has a 12-month low of $249.32 and a 12-month high of $494.71. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.04.

Saia (NASDAQ:SAIA) last issued its earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, topping the consensus estimate of $3.38 by $0.13. Saia had a return on equity of 10.21% and a net margin of 8.19%.The business had revenue of $956.49 million during the quarter, compared to analysts’ expectations of $956.20 million. During the same quarter last year, the firm posted $2.67 earnings per share. Saia’s revenue was up 17.1% compared to the same quarter last year. Equities analysts expect that Saia will post 11.42 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Danske Bank A S acquired a new stake in shares of Saia during the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Saia in the second quarter worth approximately $27,000. Meeder Asset Management Inc. increased its holdings in Saia by 360.0% in the second quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company’s stock worth $29,000 after buying an additional 54 shares during the last quarter. Quantbot Technologies LP bought a new position in Saia during the second quarter valued at approximately $64,000. Finally, Versant Capital Management Inc raised its position in Saia by 65.6% during the second quarter. Versant Capital Management Inc now owns 154 shares of the transportation company’s stock valued at $65,000 after acquiring an additional 61 shares in the last quarter.

About Saia

Saia, Inc is a transportation and logistics company headquartered in Johns Creek, Georgia. Its primary business is less-than-truckload (LTL) freight transportation, serving shippers whose shipments do not require a full truck. Through its Saia LTL Freight subsidiary, the company provides regional and interregional freight services, including standard, expedited and time-definite delivery options.

Saia also provides third-party logistics services through Saia Logistics Services. These offerings can include the coordination of truckload, LTL, intermodal and other transportation solutions, allowing customers to manage a broader range of shipping needs through one provider.

The company traces its history to 1924, when it began operations in Louisiana.