Saia (NASDAQ:SAIA) Price Target Lowered to $490.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan lowered Saia’s price target from $498 to $490 while maintaining an “overweight” rating, implying 38.73% potential upside from the previous close.
• Analyst sentiment remains positive, with Saia receiving a consensus “Moderate Buy” rating and an average price target of $449.22 from 20 analysts.
• Saia reported quarterly adjusted earnings of $3.51 per share, beating expectations of $3.38, while revenue rose 17.1% year over year to $956.49 million.

Saia (NASDAQ:SAIA - Get Free Report) had its price target lowered by research analysts at JPMorgan Chase & Co. from $498.00 to $490.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the transportation company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 38.73% from the stock's previous close.

A number of other equities analysts have also recently weighed in on SAIA. Susquehanna upped their price target on Saia from $465.00 to $470.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Evercore raised Saia from an "in-line" rating to an "outperform" rating in a research note on Wednesday, July 1st. Citigroup decreased their target price on Saia from $488.00 to $423.00 and set a "buy" rating on the stock in a research report on Tuesday, August 4th. BMO Capital Markets boosted their price target on shares of Saia from $450.00 to $470.00 and gave the stock a "market perform" rating in a report on Thursday, June 4th. Finally, Wells Fargo & Company reduced their price objective on shares of Saia from $490.00 to $400.00 and set an "equal weight" rating for the company in a research report on Friday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Saia has a consensus rating of "Moderate Buy" and an average target price of $449.22.

Saia Stock Up 2.1%

SAIA stock traded up $7.41 on Friday, hitting $353.22. 159,654 shares of the company's stock were exchanged, compared to its average volume of 487,343. Saia has a 12-month low of $249.32 and a 12-month high of $494.71. The firm has a 50 day moving average price of $388.89 and a two-hundred day moving average price of $404.58. 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 stock has a market cap of $9.42 billion, a P/E ratio of 34.13, a price-to-earnings-growth ratio of 1.49 and a beta of 2.14.

Saia (NASDAQ:SAIA - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.38 by $0.13. The company had revenue of $956.49 million during the quarter, compared to analysts' expectations of $956.20 million. Saia had a return on equity of 10.21% and a net margin of 8.19%.The firm's revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business posted $2.67 earnings per share. As a group, equities research analysts expect that Saia will post 11.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Saia

A number of hedge funds have recently modified their holdings of SAIA. Montag A & Associates Inc. purchased a new position in Saia during the 1st quarter valued at about $1,505,000. Marks Group Wealth Management Inc increased its stake in Saia by 32.9% during the first quarter. Marks Group Wealth Management Inc now owns 19,040 shares of the transportation company's stock worth $6,688,000 after purchasing an additional 4,717 shares during the period. London Co. of Virginia lifted its position in shares of Saia by 10.5% during the first quarter. London Co. of Virginia now owns 86,774 shares of the transportation company's stock worth $30,484,000 after purchasing an additional 8,255 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Saia by 23.1% during the first quarter. California State Teachers Retirement System now owns 30,917 shares of the transportation company's stock worth $10,861,000 after purchasing an additional 5,810 shares in the last quarter. Finally, Emerald Investment Advisers LLC purchased a new position in shares of Saia in the second quarter valued at approximately $3,317,000.

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.

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