Saia (NASDAQ:SAIA) Trading Down 2.9% on Disappointing Earnings

Shares of Saia, Inc. (NASDAQ:SAIA) dropped 2.9% during trading on Monday following a dissappointing earnings announcement. The stock traded as low as $415.12 and last traded at $416.41. Approximately 145,897 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 311,476 shares. The stock had previously closed at $428.81.

The transportation company reported $3.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.43 by ($0.05). Saia had a net margin of 12.42% and a return on equity of 19.53%. The company had revenue of $754.80 million for the quarter, compared to the consensus estimate of $772.36 million. During the same quarter in the previous year, the firm earned $2.85 earnings per share. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Susquehanna lifted their target price on shares of Saia from $500.00 to $625.00 and gave the company a “positive” rating in a research report on Thursday, February 8th. UBS Group dropped their target price on shares of Saia from $618.00 to $541.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. dropped their target price on shares of Saia from $676.00 to $580.00 and set an “overweight” rating for the company in a research report on Monday. Benchmark lifted their target price on shares of Saia from $575.00 to $625.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, Bank of America lowered their price objective on shares of Saia from $645.00 to $484.00 and set a “buy” rating for the company in a report on Monday. Two analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $481.50.

Insider Activity at Saia

In related news, VP Rohit Lal sold 2,870 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $536.55, for a total transaction of $1,539,898.50. Following the completion of the sale, the vice president now directly owns 8,482 shares in the company, valued at approximately $4,551,017.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Saia news, VP Raymond R. Ramu sold 1,943 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $565.83, for a total transaction of $1,099,407.69. Following the transaction, the vice president now directly owns 4,447 shares of the company’s stock, valued at approximately $2,516,246.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Rohit Lal sold 2,870 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $536.55, for a total transaction of $1,539,898.50. Following the transaction, the vice president now directly owns 8,482 shares in the company, valued at $4,551,017.10. The disclosure for this sale can be found here. Insiders sold 27,699 shares of company stock worth $14,966,813 in the last three months. 0.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Contravisory Investment Management Inc. purchased a new position in Saia during the 4th quarter valued at $26,000. Pineridge Advisors LLC purchased a new stake in shares of Saia in the 4th quarter worth about $26,000. Core Wealth Advisors Inc. purchased a new stake in shares of Saia in the 4th quarter worth about $32,000. Rise Advisors LLC purchased a new stake in shares of Saia in the 1st quarter worth about $40,000. Finally, GAMMA Investing LLC bought a new position in Saia in the 4th quarter worth about $43,000.

Saia Trading Down 3.0 %

The company has a market cap of $11.06 billion, a P/E ratio of 30.15, a PEG ratio of 1.39 and a beta of 1.62. The stock’s 50 day moving average is $566.04 and its 200-day moving average is $479.86. The company has a current ratio of 1.23, a quick ratio of 2.01 and a debt-to-equity ratio of 0.04.

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.