JPMorgan Chase & Co. Sells 14,717 Shares of Saia, Inc. (NASDAQ:SAIA)

Key Points

• JPMorgan Chase & Co. reduced its stake in Saia, Inc. by 1.4%, selling 14,717 shares and retaining approximately 3.77% of the company's stocks valued at $351.23 million.
• Analysts have varying outlooks on Saia, with a consensus rating of "Hold" and price targets ranging from $306.00 to $410.00, showing significant support for the stock.
• Saia reported $2.67 EPS for the last quarter, exceeding estimates, though revenue decreased 0.7% year-over-year, totaling $817.12 million.

JPMorgan Chase & Co. lessened its stake in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,005,159 shares of the transportation company's stock after selling 14,717 shares during the quarter. JPMorgan Chase & Co. owned approximately 3.77% of Saia worth $351,233,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SAIA. Bank of Montreal Can boosted its stake in shares of Saia by 10.3% during the fourth quarter. Bank of Montreal Can now owns 3,532 shares of the transportation company's stock valued at $1,610,000 after purchasing an additional 329 shares during the period. Raymond James Financial Inc. bought a new position in shares of Saia during the fourth quarter valued at approximately $46,514,000. Mariner LLC raised its holdings in shares of Saia by 11.0% during the fourth quarter. Mariner LLC now owns 1,822 shares of the transportation company's stock valued at $831,000 after acquiring an additional 180 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Saia during the fourth quarter valued at approximately $375,000. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Saia during the fourth quarter valued at approximately $434,000.

Saia Price Performance

SAIA traded down $5.87 on Friday, hitting $299.40. 259,356 shares of the company's stock traded hands, compared to its average volume of 713,546. The company's 50 day simple moving average is $287.94 and its 200-day simple moving average is $329.91. The firm has a market cap of $7.97 billion, a price-to-earnings ratio of 27.65, a P/E/G ratio of 14.08 and a beta of 1.99. Saia, Inc. has a one year low of $229.12 and a one year high of $624.55. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.13.

Saia (NASDAQ:SAIA - Get Free Report) last released its quarterly earnings data on Friday, July 25th. The transportation company reported $2.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.39 by $0.28. Saia had a return on equity of 12.42% and a net margin of 8.96%. The business had revenue of $817.12 million for the quarter, compared to the consensus estimate of $826.59 million. During the same quarter in the previous year, the company posted $3.83 EPS. The company's revenue was down .7% compared to the same quarter last year. As a group, research analysts anticipate that Saia, Inc. will post 15.46 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BMO Capital Markets downgraded Saia from an "outperform" rating to a "market perform" rating and decreased their price objective for the stock from $455.00 to $285.00 in a report on Friday, April 25th. The Goldman Sachs Group upgraded Saia from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $387.00 to $410.00 in a report on Monday, June 2nd. Wolfe Research upgraded Saia from a "hold" rating to a "strong-buy" rating in a report on Sunday, June 8th. JPMorgan Chase & Co. increased their target price on Saia from $295.00 to $380.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Finally, Susquehanna increased their target price on Saia from $275.00 to $340.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Saia currently has an average rating of "Hold" and a consensus target price of $347.16.

About Saia

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.