Saia (NASDAQ:SAIA) Trading Down 5.3% - Here's Why

Key Points

• Saia's stock price fell 5.3% on Wednesday, closing at $311.11, with trading volume down 40% compared to its average session volume.
• Analysts have upgraded Saia's target prices, with estimates ranging from $306.00 to $360.00, contributing to a current average price target of $347.16.
• In its last earnings report, Saia reported $2.67 EPS, exceeding expectations, though its revenue was down 0.7% year-over-year.

Saia, Inc. (NASDAQ:SAIA - Get Free Report) was down 5.3% on Wednesday . The company traded as low as $312.18 and last traded at $311.11. Approximately 382,917 shares changed hands during trading, a decline of 40% from the average daily volume of 640,023 shares. The stock had previously closed at $328.60.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SAIA shares. Susquehanna upgraded Saia from a "neutral" rating to a "positive" rating and increased their price target for the company from $340.00 to $360.00 in a research note on Wednesday, September 10th. Wolfe Research upgraded Saia from a "hold" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Citigroup decreased their price target on Saia from $393.00 to $373.00 and set a "buy" rating for the company in a research note on Wednesday, September 10th. Zacks Research upgraded Saia from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Finally, Evercore ISI increased their price objective on Saia from $297.00 to $345.00 and gave the company an "outperform" rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat.com, Saia has a consensus rating of "Moderate Buy" and a consensus price target of $347.16.

Saia Stock Performance

The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 28.63, a price-to-earnings-growth ratio of 14.10 and a beta of 2.00. The firm has a fifty day moving average of $302.70 and a 200 day moving average of $303.91. 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 (NASDAQ:SAIA - Get Free Report) last posted its earnings results on Friday, July 25th. The transportation company reported $2.67 EPS for the quarter, topping the consensus estimate of $2.39 by $0.28. The firm had revenue of $817.12 million for the quarter, compared to analyst estimates of $826.59 million. Saia had a return on equity of 12.42% and a net margin of 8.96%.Saia's revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the company earned $3.83 earnings per share. On average, sell-side analysts anticipate that Saia, Inc. will post 15.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Saia

Hedge funds have recently bought and sold shares of the business. Hunter Associates Investment Management LLC boosted its position in Saia by 55.6% during the first quarter. Hunter Associates Investment Management LLC now owns 11,030 shares of the transportation company's stock worth $3,832,000 after purchasing an additional 3,940 shares in the last quarter. Running Oak Capital LLC boosted its position in Saia by 28.1% during the first quarter. Running Oak Capital LLC now owns 38,760 shares of the transportation company's stock worth $13,544,000 after purchasing an additional 8,501 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in Saia during the first quarter worth approximately $483,000. Marks Group Wealth Management Inc lifted its position in shares of Saia by 11.5% in the first quarter. Marks Group Wealth Management Inc now owns 21,429 shares of the transportation company's stock valued at $7,488,000 after acquiring an additional 2,212 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Saia in the first quarter valued at approximately $1,882,000.

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.