Saia (NASDAQ:SAIA) Downgraded by Bank of America to "Neutral"

Saia (NASDAQ:SAIA - Get Free Report) was downgraded by stock analysts at Bank of America from a "buy" rating to a "neutral" rating in a report released on Monday, MarketBeat Ratings reports. They presently have a $251.00 price target on the transportation company's stock. Bank of America's price target points to a potential downside of 4.32% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Citigroup cut their price target on shares of Saia from $498.00 to $435.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company decreased their price target on shares of Saia from $510.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 27th. TD Cowen increased their price objective on Saia from $456.00 to $478.00 and gave the company a "hold" rating in a research report on Tuesday, February 4th. Susquehanna cut their price objective on Saia from $540.00 to $410.00 and set a "neutral" rating for the company in a research report on Monday, March 31st. Finally, Raymond James cut their target price on Saia from $540.00 to $455.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Saia currently has a consensus rating of "Hold" and a consensus target price of $342.58.

Saia Price Performance

Shares of SAIA stock traded up $22.17 during midday trading on Monday, reaching $262.33. 1,588,027 shares of the company were exchanged, compared to its average volume of 487,244. The company's 50 day moving average price is $344.04 and its two-hundred day moving average price is $441.92. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.57. The company has a market cap of $6.99 billion, a P/E ratio of 19.42, a PEG ratio of 2.24 and a beta of 2.03. Saia has a 12 month low of $229.12 and a 12 month high of $624.55.

Saia (NASDAQ:SAIA - Get Free Report) last released its earnings results on Friday, April 25th. The transportation company reported $1.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.77 by ($0.91). Saia had a return on equity of 16.63% and a net margin of 11.28%. The firm had revenue of $787.58 million during the quarter, compared to analyst estimates of $806.18 million. During the same quarter last year, the company earned $3.38 earnings per share. The business's revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts expect that Saia will post 15.46 earnings per share for the current year.

Insider Transactions at Saia

In other news, CEO Frederick J. Holzgrefe III sold 7,534 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $487.34, for a total transaction of $3,671,619.56. Following the transaction, the chief executive officer now owns 17,645 shares in the company, valued at approximately $8,599,114.30. This trade represents a 29.92 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew J. Batteh sold 700 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $500.09, for a total value of $350,063.00. Following the transaction, the chief financial officer now owns 3,326 shares in the company, valued at approximately $1,663,299.34. This trade represents a 17.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,493 shares of company stock valued at $4,646,181. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Saia by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 2,522,938 shares of the transportation company's stock valued at $1,149,779,000 after purchasing an additional 25,090 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Saia by 69.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,939,615 shares of the transportation company's stock worth $883,941,000 after buying an additional 794,197 shares during the last quarter. Voya Investment Management LLC boosted its position in shares of Saia by 15.2% in the fourth quarter. Voya Investment Management LLC now owns 374,402 shares of the transportation company's stock valued at $170,598,000 after acquiring an additional 49,442 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of Saia by 24,815.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 372,728 shares of the transportation company's stock worth $169,863,000 after acquiring an additional 371,232 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Saia by 76.2% during the fourth quarter. Ameriprise Financial Inc. now owns 355,929 shares of the transportation company's stock worth $162,213,000 after acquiring an additional 153,896 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.