Saia (NASDAQ:SAIA) Stock Rating Upgraded by Susquehanna

Key Points

• Saia has been upgraded by Susquehanna from a "neutral" to a "positive" rating, with a new target price of $360.00, suggesting a 17.55% potential upside.
• Recent earnings reported $2.67 EPS, exceeding expectations, but revenue decreased by 0.7% compared to the previous year.
• Overall, Saia has received a consensus rating of "Moderate Buy", with an average price target of $348.21 from various analysts.

Saia (NASDAQ:SAIA - Get Free Report) was upgraded by equities research analysts at Susquehanna from a "neutral" rating to a "positive" rating in a research report issued on Wednesday, MarketBeat reports. The firm currently has a $360.00 price target on the transportation company's stock, up from their previous price target of $340.00. Susquehanna's price target points to a potential upside of 15.15% from the company's previous close.

A number of other research firms have also commented on SAIA. Wells Fargo & Company boosted their price objective on Saia from $290.00 to $365.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Barclays boosted their price objective on Saia from $315.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Evercore ISI boosted their price objective on Saia from $297.00 to $345.00 and gave the stock an "outperform" rating in a research note on Monday, July 28th. Citigroup reissued a "buy" rating and issued a $393.00 price objective (up previously from $350.00) on shares of Saia in a research note on Monday, July 28th. Finally, Wolfe Research raised Saia from a "hold" rating to a "strong-buy" rating in a research note on Sunday, June 8th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $347.16.

Saia Stock Performance

Shares of SAIA traded down $3.15 on Wednesday, reaching $312.63. 343,142 shares of the stock traded hands, compared to its average volume of 507,768. The firm has a market cap of $8.33 billion, a price-to-earnings ratio of 28.87, a P/E/G ratio of 14.46 and a beta of 2.00. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.49 and a quick ratio of 1.49. Saia has a 12 month low of $229.12 and a 12 month high of $624.55. The stock's 50-day moving average price is $301.06 and its 200-day moving average price is $306.19.

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, beating analysts' consensus estimates of $2.39 by $0.28. The business had revenue of $817.12 million for the quarter, compared to analysts' expectations of $826.59 million. Saia had a return on equity of 12.42% and a net margin of 8.96%.Saia's quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the business posted $3.83 earnings per share. Equities analysts forecast that Saia will post 15.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Neuberger Berman Group LLC boosted its position in shares of Saia by 403.3% during the second quarter. Neuberger Berman Group LLC now owns 181,583 shares of the transportation company's stock worth $49,752,000 after buying an additional 145,506 shares during the period. Hilltop Partners LLC boosted its position in shares of Saia by 27.9% during the second quarter. Hilltop Partners LLC now owns 1,370 shares of the transportation company's stock worth $375,000 after buying an additional 299 shares during the period. Cim Investment Management Inc. acquired a new position in shares of Saia during the second quarter worth about $134,000. Cim LLC boosted its position in shares of Saia by 29.6% during the second quarter. Cim LLC now owns 770 shares of the transportation company's stock worth $211,000 after buying an additional 176 shares during the period. Finally, FORA Capital LLC acquired a new position in Saia during the second quarter valued at approximately $3,505,000.

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.