Saia (NASDAQ:SAIA) Trading Down 5.1% - Here's Why

Key Points

• Saia, Inc. shares fell 5.1%, trading as low as $280.91, with a significant decrease in trading volume compared to its average.
• Recent analyst upgrades include price targets ranging from $300.00 to $380.00, with a consensus rating of "Moderate Buy" and an average target price of $347.16.
• Saia reported $2.67 earnings per share for the last quarter, exceeding estimates but showing a year-over-year revenue decline of 0.7%.

Shares of Saia, Inc. (NASDAQ:SAIA - Get Free Report) were down 5.1% during mid-day trading on Friday . The stock traded as low as $280.91 and last traded at $285.89. Approximately 247,468 shares were traded during trading, a decline of 61% from the average daily volume of 630,161 shares. The stock had previously closed at $301.31.

Analyst Upgrades and Downgrades

SAIA has been the subject of a number of recent analyst reports. Jefferies Financial Group set a $335.00 price objective on Saia and gave the company a "buy" rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. lifted their price target on Saia from $295.00 to $380.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Stephens increased their price objective on shares of Saia from $274.00 to $300.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Stifel Nicolaus reissued a "hold" rating and issued a $306.00 target price (up from $277.00) on shares of Saia in a research report on Thursday, July 24th. Finally, Wells Fargo & Company upped their price target on shares of Saia from $290.00 to $365.00 and gave the stock an "equal weight" rating in a research 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. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $347.16.

Saia Trading Down 2.6%

The company has a debt-to-equity ratio of 0.13, a current ratio of 1.49 and a quick ratio of 1.49. The business's 50-day simple moving average is $303.76 and its two-hundred day simple moving average is $301.14. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 27.11, a PEG ratio of 13.73 and a beta of 2.00.

Saia (NASDAQ:SAIA - Get Free Report) last posted its earnings results on Friday, July 25th. The transportation company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.28. Saia had a net margin of 8.96% and a return on equity of 12.42%. The business had revenue of $817.12 million for the quarter, compared to analyst estimates of $826.59 million. During the same quarter in the previous year, the business posted $3.83 EPS. The business's quarterly revenue was down .7% on a year-over-year basis. On average, research analysts anticipate that Saia, Inc. will post 15.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Saia

Institutional investors and hedge funds have recently bought and sold shares of the stock. Heritage Family Offices LLP lifted its position in Saia by 4.1% during the 1st quarter. Heritage Family Offices LLP now owns 741 shares of the transportation company's stock valued at $259,000 after purchasing an additional 29 shares during the period. Boothbay Fund Management LLC grew its holdings in Saia by 3.2% during the 2nd quarter. Boothbay Fund Management LLC now owns 1,401 shares of the transportation company's stock worth $384,000 after acquiring an additional 43 shares during the period. CWM LLC raised its position in shares of Saia by 21.6% during the 2nd quarter. CWM LLC now owns 248 shares of the transportation company's stock valued at $68,000 after acquiring an additional 44 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Saia by 3.8% during the 2nd quarter. ProShare Advisors LLC now owns 1,238 shares of the transportation company's stock valued at $339,000 after acquiring an additional 45 shares during the last quarter. Finally, Vident Advisory LLC raised its holdings in Saia by 4.4% in the second quarter. Vident Advisory LLC now owns 1,075 shares of the transportation company's stock worth $295,000 after purchasing an additional 45 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.

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