Saia (NASDAQ:SAIA) Shares Gap Up on Better-Than-Expected Earnings

Key Points

• Saia, Inc. shares gapped up from $311.79 to $349.21 before trading at $337.13 following a better-than-expected earnings report.
• The company reported a EPS of $2.67, exceeding the analysts' estimate of $2.39, but revenue decreased by 0.7% year-over-year.
• Analysts have mixed ratings on Saia, with ten hold ratings and a current average price target of $339.79.
• Several hedge funds have increased their positions in Saia, indicating ongoing institutional interest in the company.

Shares of Saia, Inc. (NASDAQ:SAIA - Get Free Report) gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $311.79, but opened at $349.21. Saia shares last traded at $337.13, with a volume of 218,601 shares traded.

The transportation company reported $2.67 EPS for the quarter, beating analysts' consensus estimates of $2.39 by $0.28. Saia had a return on equity of 14.21% and a net margin of 9.91%. The business's revenue was down .7% on a year-over-year basis. During the same quarter last year, the business posted $3.83 EPS.

Analyst Upgrades and Downgrades

SAIA has been the topic of a number of analyst reports. Barclays reissued an "overweight" rating on shares of Saia in a report on Thursday, July 10th. Wall Street Zen upgraded Saia to a "sell" rating in a research note on Tuesday, May 13th. Susquehanna decreased their target price on Saia from $540.00 to $410.00 and set a "neutral" rating for the company in a research note on Monday, March 31st. Raymond James Financial set a $310.00 target price on Saia and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, Deutsche Bank Aktiengesellschaft downgraded Saia from a "buy" rating to a "hold" rating and set a $273.00 target price for the company. in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $339.79.

Hedge Funds Weigh In On Saia

Several hedge funds and other institutional investors have recently modified their holdings of SAIA. Commonwealth Equity Services LLC lifted its position in shares of Saia by 4.4% during the 4th quarter. Commonwealth Equity Services LLC now owns 2,614 shares of the transportation company's stock worth $1,191,000 after buying an additional 109 shares during the period. Corient Private Wealth LLC lifted its position in shares of Saia by 10.4% during the 4th quarter. Corient Private Wealth LLC now owns 2,721 shares of the transportation company's stock worth $1,240,000 after buying an additional 257 shares during the period. Teacher Retirement System of Texas bought a new position in shares of Saia during the 4th quarter worth approximately $544,000. KLP Kapitalforvaltning AS acquired a new stake in Saia during the 4th quarter valued at $2,461,000. Finally, Fox Run Management L.L.C. acquired a new stake in Saia during the 4th quarter valued at $248,000.

Saia Price Performance

The stock has a fifty day moving average of $277.05 and a two-hundred day moving average of $349.56. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 10.73 and a beta of 1.98. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.12.

Saia Company Profile

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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