Wells Fargo & Company Cuts Saia (NASDAQ:SAIA) Price Target to $260.00

Saia (NASDAQ:SAIA - Get Free Report) had its price objective cut by research analysts at Wells Fargo & Company from $400.00 to $260.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "equal weight" rating on the transportation company's stock. Wells Fargo & Company's target price would suggest a potential upside of 7.98% from the company's current price.

Other equities research analysts have also issued reports about the company. Morgan Stanley upgraded Saia from an "underweight" rating to an "equal weight" rating in a research report on Friday. Citigroup decreased their price target on shares of Saia from $498.00 to $435.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. BMO Capital Markets lowered shares of Saia from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $455.00 to $285.00 in a research note on Friday. UBS Group decreased their target price on shares of Saia from $557.00 to $422.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Stephens restated an "overweight" rating and set a $600.00 price target on shares of Saia in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Saia has an average rating of "Moderate Buy" and a consensus price target of $443.94.

Saia Trading Down 2.0 %

Shares of NASDAQ:SAIA traded down $4.85 during mid-day trading on Monday, hitting $240.79. The stock had a trading volume of 457,908 shares, compared to its average volume of 466,785. The company's 50 day moving average is $362.99 and its 200-day moving average is $449.21. Saia has a 12-month low of $229.21 and a 12-month high of $624.55. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.57. The company has a market cap of $6.41 billion, a PE ratio of 17.85, a P/E/G ratio of 2.24 and a beta of 1.99.

Saia (NASDAQ:SAIA - Get Free Report) last announced its earnings results on Friday, April 25th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.77 by ($0.91). The firm had revenue of $787.58 million for the quarter, compared to analyst estimates of $806.18 million. Saia had a net margin of 11.28% and a return on equity of 16.63%. During the same period last year, the firm earned $3.38 earnings per share. On average, sell-side analysts predict that Saia will post 15.46 EPS for the current year.

Insider Activity at Saia

In related news, CAO Kelly W. Benton sold 460 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.00, for a total transaction of $230,000.00. Following the completion of the sale, the chief accounting officer now owns 4,287 shares in the company, valued at $2,143,500. This represents a 9.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Matthew J. Batteh sold 700 shares of Saia stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $500.09, for a total value of $350,063.00. Following the completion of the transaction, the chief financial officer now directly owns 3,326 shares in the company, valued at approximately $1,663,299.34. This represents a 17.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,493 shares of company stock worth $4,646,181. 0.30% of the stock is owned by insiders.

Institutional Investors Weigh In On Saia

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Kestra Investment Management LLC bought a new stake in Saia in the 4th quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Saia by 172.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60 shares of the transportation company's stock valued at $28,000 after buying an additional 38 shares during the period. Golden State Wealth Management LLC grew its position in Saia by 127.0% during the first quarter. Golden State Wealth Management LLC now owns 84 shares of the transportation company's stock worth $29,000 after buying an additional 47 shares in the last quarter. Atala Financial Inc bought a new position in Saia during the fourth quarter valued at about $36,000. Finally, Huntington National Bank raised its holdings in Saia by 291.7% in the 4th quarter. Huntington National Bank now owns 94 shares of the transportation company's stock valued at $43,000 after acquiring an additional 70 shares in 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.

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