Wells Fargo & Company Cuts Saia (NASDAQ:SAIA) Price Target to $510.00

Saia (NASDAQ:SAIA) had its price objective decreased by Wells Fargo & Company from $550.00 to $510.00 in a research note issued to investors on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the transportation company’s stock.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. boosted their price objective on Saia from $499.00 to $566.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Stephens boosted their price objective on Saia from $481.00 to $515.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group upped their price target on Saia from $492.00 to $563.00 and gave the company a “neutral” rating in a research note on Thursday, December 12th. Wolfe Research raised Saia from a “peer perform” rating to an “outperform” rating and set a $511.00 price target on the stock in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group upped their price target on Saia from $525.00 to $560.00 and gave the company a “buy” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $535.41.

Saia Stock Performance

NASDAQ SAIA opened at $508.47 on Tuesday. The stock’s fifty day moving average is $492.66 and its two-hundred day moving average is $462.24. The firm has a market capitalization of $13.52 billion, a P/E ratio of 36.32, a price-to-earnings-growth ratio of 2.31 and a beta of 1.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.26. Saia has a fifty-two week low of $358.90 and a fifty-two week high of $628.34.

Saia (NASDAQ:SAIA) last released its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.03). The company had revenue of $789.00 million for the quarter, compared to analyst estimates of $794.69 million. Saia had a return on equity of 18.00% and a net margin of 11.83%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period last year, the firm posted $3.33 EPS. On average, research analysts anticipate that Saia will post 13.47 earnings per share for the current year.

Insiders Place Their Bets

In other Saia news, EVP Rohit Lal sold 1,120 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $560.00, for a total transaction of $627,200.00. Following the sale, the executive vice president now owns 8,270 shares in the company, valued at $4,631,200. This represents a 11.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Saia

Several large investors have recently bought and sold shares of the stock. Vestmark Advisory Solutions Inc. increased its holdings in Saia by 3.7% during the 4th quarter. Vestmark Advisory Solutions Inc. now owns 9,069 shares of the transportation company’s stock worth $4,133,000 after purchasing an additional 323 shares during the period. Inceptionr LLC purchased a new position in shares of Saia in the 4th quarter valued at about $710,000. Raymond James Financial Inc. purchased a new position in shares of Saia in the 4th quarter valued at about $46,514,000. Arizona State Retirement System increased its holdings in shares of Saia by 0.4% in the 4th quarter. Arizona State Retirement System now owns 7,685 shares of the transportation company’s stock valued at $3,502,000 after acquiring an additional 29 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in shares of Saia in the 4th quarter valued at about $15,577,000.

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.