Saia (NASDAQ:SAIA) Stock Price Up 13.4% - Here's What Happened

Saia, Inc. (NASDAQ:SAIA - Get Free Report)'s stock price was up 13.4% on Monday . The stock traded as high as $305.39 and last traded at $295.52. Approximately 717,608 shares traded hands during trading, an increase of 46% from the average daily volume of 490,363 shares. The stock had previously closed at $260.62.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SAIA shares. Citigroup lowered their price target on shares of Saia from $498.00 to $435.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Bank of America cut shares of Saia from a "buy" rating to a "neutral" rating and set a $251.00 target price on the stock. in a research note on Monday, April 28th. Deutsche Bank Aktiengesellschaft cut shares of Saia from a "buy" rating to a "hold" rating and set a $273.00 target price on the stock. in a research note on Thursday, May 1st. The Goldman Sachs Group lowered their target price on shares of Saia from $485.00 to $387.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. Finally, Cowen restated a "hold" rating on shares of Saia in a research note on Tuesday, February 4th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $342.58.

Saia Price Performance

The stock's 50-day moving average price is $324.31 and its 200 day moving average price is $432.84. The firm has a market capitalization of $7.46 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 2.24 and a beta of 2.03. The company has a quick ratio of 1.26, a current ratio of 1.57 and a debt-to-equity ratio of 0.08.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.77 by ($0.91). Saia had a net margin of 11.28% and a return on equity of 16.63%. The firm had revenue of $787.58 million during the quarter, compared to analysts' expectations of $806.18 million. During the same period in the prior year, the company posted $3.38 EPS. The company's revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts expect that Saia, Inc. will post 15.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Kelly W. Benton sold 460 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.00, for a total value of $230,000.00. Following the completion of the transaction, the chief accounting officer now owns 4,287 shares of the company's stock, valued at approximately $2,143,500. This trade represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Matthew J. Batteh sold 700 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.09, for a total transaction of $350,063.00. Following the completion of the transaction, the chief financial officer now directly owns 3,326 shares of the company's stock, valued at approximately $1,663,299.34. The trade was a 17.39% decrease in their position. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by insiders.

Institutional Trading of Saia

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAIA. Interval Partners LP purchased a new stake in shares of Saia during the 4th quarter worth approximately $89,229,000. Driehaus Capital Management LLC lifted its position in shares of Saia by 9.0% during the 4th quarter. Driehaus Capital Management LLC now owns 75,726 shares of the transportation company's stock worth $34,511,000 after buying an additional 6,274 shares during the last quarter. Highview Capital Management LLC DE purchased a new stake in shares of Saia during the 4th quarter worth approximately $1,324,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Saia during the 4th quarter worth approximately $3,363,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Saia by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 226,137 shares of the transportation company's stock worth $103,057,000 after buying an additional 4,972 shares during the last quarter.

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.