Saia (NASDAQ:SAIA) Now Covered by Sanford C. Bernstein

Key Points

• Sanford C. Bernstein initiated coverage of Saia with an “outperform” rating and a $439 price target, implying approximately 26.7% upside from the stock’s $346.55 price.
• Analyst sentiment is broadly positive: 14 analysts rate Saia a Buy, six a Hold, and one a Sell, producing a consensus “Moderate Buy” rating and an average price target of $448.37.
• Saia’s latest quarterly results exceeded expectations, with EPS of $3.51 versus the $3.38 consensus and revenue of $956.49 million, up 17.1% year over year.

Analysts at Sanford C. Bernstein assumed coverage on shares of Saia (NASDAQ:SAIA - Get Free Report) in a research report issued on Thursday, Briefing.com reports. The brokerage set an "outperform" rating and a $439.00 price target on the transportation company's stock. Sanford C. Bernstein's target price points to a potential upside of 26.68% from the company's current price.

A number of other equities research analysts have also issued reports on SAIA. Wells Fargo & Company cut their target price on Saia from $490.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Friday, July 31st. Susquehanna lifted their price target on Saia from $465.00 to $470.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. Citigroup cut their price objective on Saia from $423.00 to $417.00 and set a "buy" rating on the stock in a report on Tuesday. Morgan Stanley reduced their price objective on shares of Saia from $295.00 to $285.00 and set an "underweight" rating for the company in a research note on Friday, July 31st. Finally, Benchmark reiterated a "buy" rating on shares of Saia in a report on Wednesday, June 3rd. Fourteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Saia currently has a consensus rating of "Moderate Buy" and an average price target of $448.37.

Saia Trading Down 2.3%

Shares of NASDAQ:SAIA opened at $346.55 on Thursday. The stock has a market capitalization of $9.24 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 1.57 and a beta of 2.14. Saia has a 1-year low of $249.32 and a 1-year high of $494.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.58 and a current ratio of 1.58. The company has a 50 day moving average price of $383.32 and a 200 day moving average price of $403.60.

Saia (NASDAQ:SAIA - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share (EPS) for the quarter, beating 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 company had revenue of $956.49 million for the quarter, compared to analysts' expectations of $956.20 million. During the same quarter in the prior year, the company earned $2.67 earnings per share. The firm's revenue was up 17.1% on a year-over-year basis. On average, research analysts anticipate that Saia will post 11.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Saia

Institutional investors and hedge funds have recently bought and sold shares of the business. Danske Bank A S purchased a new position in Saia during the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Saia during the 2nd quarter valued at $27,000. Meeder Asset Management Inc. increased its stake in shares of 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 acquiring an additional 54 shares during the last quarter. Quarry LP raised its holdings in shares of Saia by 8,400.0% during the fourth quarter. Quarry LP now owns 85 shares of the transportation company's stock worth $28,000 after acquiring an additional 84 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Saia during the fourth quarter valued at $36,000.

Saia Company Profile

Saia, Inc is a publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America. Headquartered in Johns Creek, Georgia, the company focuses on the efficient movement of time-sensitive freight for a diverse customer base that spans retail, manufacturing, automotive, and healthcare industries. By leveraging a network of terminals and service centers, Saia provides tailored solutions designed to optimize supply chain performance.

The company's core offerings include regional, interregional, and national LTL shipping, supported by volumetric LTL and port intermodal services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.