Wells Fargo & Company Issues Pessimistic Forecast for Saia (NASDAQ:SAIA) Stock Price

Key Points

• Wells Fargo & Company has reduced its price target for Saia's stock from $365.00 to $330.00, maintaining an "equal weight" rating.
• Despite Wells Fargo's downgrade, several other analysts have increased their price targets for Saia, with UBS Group raising theirs to $374.00, and the current consensus rating being a "Moderate Buy."
• Saia reported earnings of $2.67 per share in the latest quarterly results, exceeding estimates, but its revenue of $817.12 million fell slightly short of expectations.

Saia (NASDAQ:SAIA - Get Free Report) had its price objective reduced by equities research analysts at Wells Fargo & Company from $365.00 to $330.00 in a report released on Monday,Benzinga reports. The brokerage currently has an "equal weight" rating on the transportation company's stock. Wells Fargo & Company's price objective would suggest a potential upside of 10.54% from the stock's current price.

SAIA has been the topic of a number of other reports. UBS Group raised their target price on shares of Saia from $305.00 to $374.00 and gave the company a "buy" rating in a research note on Friday. Stephens upped their price objective on Saia from $274.00 to $300.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. Susquehanna upgraded Saia from a "neutral" rating to a "positive" rating and lifted their price objective for the company from $340.00 to $360.00 in a report on Wednesday, September 10th. Stifel Nicolaus reiterated a "hold" rating and issued a $306.00 price target (up previously from $277.00) on shares of Saia in a report on Thursday, July 24th. Finally, Evercore ISI dropped their price target on Saia from $345.00 to $328.00 and set an "outperform" rating on the stock in a research note on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $348.05.

Saia Trading Up 0.4%

Shares of NASDAQ SAIA traded up $1.12 during midday trading on Monday, hitting $298.54. The stock had a trading volume of 28,927 shares, compared to its average volume of 628,052. The company has a fifty day moving average price of $302.48 and a 200 day moving average price of $297.83. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.13. Saia has a 1-year low of $229.12 and a 1-year high of $624.55. The company has a market capitalization of $7.95 billion, a price-to-earnings ratio of 27.57, a PEG ratio of 13.59 and a beta of 2.00.

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

Institutional Investors Weigh In On Saia

A number of institutional investors have recently added to or reduced their stakes in SAIA. Boothbay Fund Management LLC lifted its stake in shares of Saia by 3.2% during the second quarter. Boothbay Fund Management LLC now owns 1,401 shares of the transportation company's stock worth $384,000 after buying an additional 43 shares during the period. CWM LLC raised its holdings in Saia by 21.6% in the 2nd quarter. CWM LLC now owns 248 shares of the transportation company's stock worth $68,000 after purchasing an additional 44 shares during the period. 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 worth $339,000 after purchasing an additional 45 shares during the last quarter. Vident Advisory LLC raised its stake in Saia by 4.4% in the 2nd quarter. Vident Advisory LLC now owns 1,075 shares of the transportation company's stock valued at $295,000 after purchasing an additional 45 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its holdings in shares of Saia by 127.0% in the first quarter. Golden State Wealth Management LLC now owns 84 shares of the transportation company's stock valued at $29,000 after purchasing an additional 47 shares during the last quarter.

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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