Saia (NASDAQ:SAIA) Price Target Cut to $360.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has lowered its price target for Saia from $374.00 to $360.00, maintaining an "overweight" rating, which suggests a potential upside of 11.69% from the stock's last close.
• Other analysts have varying target prices, with Stephens increasing theirs to $300.00 and Barclays setting a target of $350.00, while Citi decreased theirs to $373.00.
• Saia's stock has shown recent activity, trading up by 5.5% to reach $322.34, following an earnings report that beat estimates despite a slight year-over-year revenue decline.

Saia (NASDAQ:SAIA - Get Free Report) had its price objective reduced by stock analysts at JPMorgan Chase & Co. from $374.00 to $360.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has an "overweight" rating on the transportation company's stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 11.69% from the stock's previous close.

A number of other brokerages have also commented on SAIA. Stephens upped their target price on Saia from $274.00 to $300.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Barclays upped their target price on Saia from $315.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Citigroup lowered their price objective on Saia from $393.00 to $373.00 and set a "buy" rating on the stock in a research report on Wednesday, September 10th. Wells Fargo & Company lowered their price objective on Saia from $365.00 to $330.00 and set an "equal weight" rating on the stock in a research report on Monday. Finally, Susquehanna upgraded Saia from a "neutral" rating to a "positive" rating and upped their price objective for the stock from $340.00 to $360.00 in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $347.00.

Saia Stock Up 5.5%

Shares of SAIA stock traded up $16.76 on Wednesday, hitting $322.34. The stock had a trading volume of 556,906 shares, compared to its average volume of 628,937. The company has a market cap of $8.59 billion, a PE ratio of 29.76, a P/E/G ratio of 14.14 and a beta of 2.00. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.13. The business has a 50 day moving average price of $302.01 and a 200 day moving average price of $297.51. Saia has a one year low of $229.12 and a one year high of $624.55.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SAIA. Viking Global Investors LP purchased a new position in Saia during the second quarter worth about $226,770,000. Norges Bank purchased a new position in Saia during the 2nd quarter valued at about $103,599,000. Alliancebernstein L.P. boosted its holdings in Saia by 17.3% during the 1st quarter. Alliancebernstein L.P. now owns 2,275,661 shares of the transportation company's stock valued at $795,184,000 after acquiring an additional 336,046 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Saia by 35.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,206,837 shares of the transportation company's stock valued at $421,705,000 after acquiring an additional 315,514 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Saia by 11.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,831,614 shares of the transportation company's stock valued at $989,452,000 after acquiring an additional 288,746 shares during the period.

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.

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