Citigroup Cuts Saia (NASDAQ:SAIA) Price Target to $498.00

Saia (NASDAQ:SAIA) had its price target decreased by Citigroup from $544.00 to $498.00 in a report released on Tuesday,Benzinga reports. Citigroup currently has a buy rating on the transportation company’s stock.

SAIA has been the topic of a number of other reports. Barclays decreased their price target on Saia from $620.00 to $600.00 and set an “overweight” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. decreased their price target on Saia from $566.00 to $558.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 4th. Wells Fargo & Company decreased their price target on Saia from $550.00 to $510.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 4th. TD Cowen lifted their price target on Saia from $456.00 to $478.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Finally, Stephens reaffirmed an “overweight” rating and issued a $600.00 price target on shares of Saia in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $527.65.

Saia Stock Performance

Shares of NASDAQ SAIA opened at $382.61 on Tuesday. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 2.24 and a beta of 1.79. The company has a current ratio of 1.57, a quick ratio of 1.26 and a debt-to-equity ratio of 0.08. Saia has a 1-year low of $358.90 and a 1-year high of $624.55. The stock’s 50-day moving average is $465.68 and its 200 day moving average is $467.89.

Saia (NASDAQ:SAIA) last announced 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 firm had revenue of $789.00 million for the quarter, compared to analysts’ expectations of $794.69 million. Saia had a net margin of 11.28% and a return on equity of 16.63%. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.33 earnings per share. On average, sell-side analysts anticipate that Saia will post 15.46 EPS for the current fiscal year.

Insider Activity at Saia

In related news, CAO Kelly W. Benton sold 460 shares of Saia 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 sale, the chief accounting officer now directly owns 4,287 shares in the company, valued at $2,143,500. The trade was a 9.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick D. Sugar sold 799 shares of Saia stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $493.74, for a total value of $394,498.26. Following the sale, the executive vice president now owns 8,629 shares in the company, valued at $4,260,482.46. This represents a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,493 shares of company stock worth $4,646,181 over the last ninety days. 0.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Saia

Several hedge funds have recently added to or reduced their stakes in SAIA. Kestra Investment Management LLC bought a new stake in Saia in the fourth quarter worth $25,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Saia by 172.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60 shares of the transportation company’s stock worth $28,000 after acquiring an additional 38 shares in the last quarter. Atala Financial Inc bought a new stake in Saia in the fourth quarter worth $36,000. Huntington National Bank boosted its holdings in Saia by 291.7% in the fourth quarter. Huntington National Bank now owns 94 shares of the transportation company’s stock worth $43,000 after acquiring an additional 70 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its holdings in Saia by 76.6% in the fourth quarter. Tortoise Investment Management LLC now owns 113 shares of the transportation company’s stock worth $51,000 after acquiring an additional 49 shares in 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.