Citigroup Issues Positive Forecast for Saia (NASDAQ:SAIA) Stock Price

Key Points

• Citigroup raised Saia’s price target to $429 from $417 and maintained a “buy” rating, implying 28.6% potential upside from the stock’s current price.
• Analyst sentiment remains broadly positive: 14 analysts rate Saia a Buy, six rate it Hold, and one rates it Sell, producing a consensus “Moderate Buy” rating and an average price target of $441.79.
• Saia shares fell 2.4% to $333.58, despite the company exceeding quarterly earnings expectations with $3.51 EPS and reporting 17.1% year-over-year revenue growth.

Saia (NASDAQ:SAIA - Get Free Report) had its price target raised by Citigroup from $417.00 to $429.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the transportation company's stock. Citigroup's target price would indicate a potential upside of 28.60% from the stock's current price.

A number of other brokerages have also issued reports on SAIA. Bank of America reissued a "buy" rating on shares of Saia in a research note on Friday, September 4th. Stephens reduced their target price on Saia from $520.00 to $490.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. The Goldman Sachs Group reiterated a "buy" rating and set a $476.00 target price on shares of Saia in a research report on Thursday, July 30th. UBS Group cut their price target on shares of Saia from $527.00 to $504.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Finally, TD Cowen reduced their price target on shares of Saia from $445.00 to $400.00 and set a "hold" rating on the stock in a research note on Friday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $441.79.

Saia Trading Down 2.4%

Shares of NASDAQ SAIA traded down $8.06 during trading hours on Wednesday, hitting $333.58. 170,615 shares of the company traded hands, compared to its average volume of 471,812. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 2.79 and a beta of 2.19. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.04. The company's 50 day moving average price is $352.56 and its 200 day moving average price is $399.60. Saia has a 12 month low of $249.32 and a 12 month high of $494.71.

Saia (NASDAQ:SAIA - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The transportation company reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.38 by $0.13. Saia had a net margin of 8.19% and a return on equity of 10.21%. The company had revenue of $956.49 million for the quarter, compared to analyst estimates of $956.20 million. During the same period in the prior year, the company posted $2.67 EPS. The firm's revenue for the quarter was up 17.1% on a year-over-year basis. On average, equities research analysts anticipate that Saia will post 11.43 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Saia

Several large investors have recently modified their holdings of SAIA. Danske Bank A S bought a new position in shares of Saia during the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd bought a new position in Saia in the second quarter worth approximately $27,000. Meeder Asset Management Inc. lifted its holdings in Saia by 360.0% during 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 period. Quantbot Technologies LP purchased a new stake in Saia during the second quarter worth $64,000. Finally, Versant Capital Management Inc boosted its position in Saia by 65.6% during the 2nd 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.

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