Saia (NASDAQ:SAIA) Price Target Cut to $463.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut Saia’s price target from $490 to $463 while maintaining an “overweight” rating, implying 32.45% potential upside from the prior close.
• Analyst views remain mixed but generally positive: Saia has a “Moderate Buy” consensus rating and an average price target of $441.16, based on 14 Buy, six Hold, and one Sell rating.
• Saia shares traded down 0.4% to $349.57, while the company’s latest quarterly results exceeded expectations with EPS of $3.51 versus the $3.38 consensus and revenue growth of 17.1% year over year.

Saia (NASDAQ:SAIA - Get Free Report) had its price objective decreased by equities researchers at JPMorgan Chase & Co. from $490.00 to $463.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an "overweight" rating on the transportation company's stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 32.45% from the stock's previous close.

A number of other brokerages also recently issued reports on SAIA. Susquehanna dropped their price target on shares of Saia from $412.00 to $360.00 and set a "neutral" rating on the stock in a report on Friday. Barclays lowered their price objective on shares of Saia from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. Morgan Stanley dropped their target price on shares of Saia from $295.00 to $285.00 and set an "underweight" rating on the stock in a report on Friday, July 31st. TD Cowen cut their target price on shares of Saia from $445.00 to $400.00 and set a "hold" rating for the company in a research report on Friday, July 31st. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Saia in a research note on Monday, August 3rd. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $441.16.

Saia Trading Down 0.4%

Shares of NASDAQ SAIA traded down $1.55 during trading hours on Monday, hitting $349.57. The company's stock had a trading volume of 121,515 shares, compared to its average volume of 472,563. The business has a 50-day simple moving average of $355.40 and a 200-day simple moving average of $399.35. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 33.63, a P/E/G ratio of 2.83 and a beta of 2.19. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.58 and a current ratio of 1.58. 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 (EPS) for the quarter, topping analysts' consensus estimates of $3.38 by $0.13. The business had revenue of $956.49 million during the quarter, compared to the consensus estimate of $956.20 million. Saia had a return on equity of 10.21% and a net margin of 8.19%.The firm's quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.67 earnings per share. On average, analysts anticipate that Saia will post 11.43 earnings per share for the current fiscal year.

Institutional Trading of Saia

Several institutional investors have recently added to or reduced their stakes in the company. Danske Bank A S bought a new position in shares of Saia in the 2nd quarter worth $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Saia during the second quarter valued at $27,000. Meeder Asset Management Inc. lifted its position in Saia by 360.0% during the second quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company's stock valued at $29,000 after purchasing an additional 54 shares during the period. Quantbot Technologies LP acquired a new stake in Saia during the 2nd quarter worth about $64,000. Finally, Versant Capital Management Inc raised its stake in shares of 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 buying an additional 61 shares during the last quarter.

Saia Company Profile

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.

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.