Saia (NASDAQ:SAIA) Upgraded by Bank of America to "Buy" Rating

Key Points

• Bank of America upgraded Saia from “neutral” to “buy” and slightly raised its price target to $502 from $499, implying about 19% upside from the current share price.
• Other analysts remain generally constructive: Saia now has a Moderate Buy consensus rating, with a consensus price target of $462.56 and several recent target increases from firms including UBS, Wells Fargo, and Stephens.
• Saia’s latest earnings topped expectations, with Q1 EPS of $1.86 and revenue of $806.23 million, while the stock was trading at $420.82 and remains below its 52-week high of $494.71.

Saia (NASDAQ:SAIA - Get Free Report) was upgraded by Bank of America from a "neutral" rating to a "buy" rating in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a $502.00 price objective on the transportation company's stock, up from their previous price objective of $499.00. Bank of America's price target would suggest a potential upside of 19.29% from the company's current price.

Several other research analysts have also recently issued reports on the company. Weiss Ratings raised Saia from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. UBS Group raised their price objective on Saia from $493.00 to $527.00 and gave the stock a "buy" rating in a research note on Tuesday, July 7th. Wells Fargo & Company lifted their target price on Saia from $445.00 to $490.00 and gave the stock an "equal weight" rating in a report on Friday, June 5th. Stephens raised Saia to a "strong-buy" rating in a research report on Wednesday, July 8th. Finally, TD Cowen upped their target price on Saia from $367.00 to $445.00 and gave the company a "hold" rating in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $462.56.

Saia Stock Performance

Shares of SAIA stock opened at $420.82 on Monday. The stock has a 50-day simple moving average of $448.10 and a 200 day simple moving average of $398.57. The stock has a market capitalization of $11.22 billion, a P/E ratio of 44.20, a P/E/G ratio of 2.00 and a beta of 2.13. Saia has a fifty-two week low of $249.32 and a fifty-two week high of $494.71. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.04.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.04. Saia had a net margin of 7.84% and a return on equity of 9.60%. The company had revenue of $806.23 million for the quarter, compared to analysts' expectations of $789.08 million. During the same quarter in the previous year, the company posted $1.86 EPS. The business's revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts expect that Saia will post 11.45 earnings per share for the current fiscal year.

Institutional Trading of Saia

Several hedge funds and other institutional investors have recently modified their holdings of the business. AQR Capital Management LLC raised its position in Saia by 52.4% during the first quarter. AQR Capital Management LLC now owns 1,781 shares of the transportation company's stock valued at $622,000 after buying an additional 612 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Saia by 334.3% in the 1st quarter. Jones Financial Companies Lllp now owns 873 shares of the transportation company's stock valued at $305,000 after purchasing an additional 672 shares during the period. California Public Employees Retirement System increased its holdings in shares of Saia by 4.3% in the 2nd quarter. California Public Employees Retirement System now owns 32,543 shares of the transportation company's stock valued at $8,916,000 after purchasing an additional 1,356 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of Saia in the second quarter worth approximately $11,599,000. Finally, Frontier Capital Management Co. LLC purchased a new stake in shares of Saia in the second quarter worth approximately $13,943,000.

About Saia

Saia, Inc is a publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America. Headquartered in Johns Creek, Georgia, the company focuses on the efficient movement of time-sensitive freight for a diverse customer base that spans retail, manufacturing, automotive, and healthcare industries. By leveraging a network of terminals and service centers, Saia provides tailored solutions designed to optimize supply chain performance.

The company's core offerings include regional, interregional, and national LTL shipping, supported by volumetric LTL and port intermodal services.

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