JPMorgan Chase & Co. Lowers Saia (NASDAQ:SAIA) Price Target to $346.00

Saia (NASDAQ:SAIA) had its price target decreased by analysts at JPMorgan Chase & Co. from $360.00 to $346.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 18.29% from the stock’s current price.

A number of other equities research analysts also recently commented on SAIA. Susquehanna set a $350.00 price objective on Saia in a research report on Friday. Zacks Research upgraded Saia from a “strong sell” rating to a “hold” rating in a report on Monday, August 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Saia in a report on Wednesday, October 8th. Stifel Nicolaus reduced their target price on Saia from $306.00 to $298.00 and set a “hold” rating on the stock in a report on Tuesday, October 28th. Finally, Wells Fargo & Company reduced their target price on Saia from $365.00 to $330.00 and set an “equal weight” rating on the stock in a report on Monday, October 6th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Saia presently has a consensus rating of “Moderate Buy” and an average price target of $337.67.

Saia Price Performance

Shares of NASDAQ:SAIA opened at $292.50 on Friday. The company has a market cap of $7.79 billion, a P/E ratio of 27.01, a P/E/G ratio of 12.90 and a beta of 2.00. 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 52 week low of $229.12 and a 52 week high of $624.55. The business has a fifty day simple moving average of $302.19 and a 200-day simple moving average of $290.63.

Saia (NASDAQ:SAIA) last announced its quarterly earnings data on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.28. The business had revenue of $839.64 million during the quarter, compared to the consensus estimate of $824.06 million. Saia had a return on equity of 12.42% and a net margin of 8.96%.The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.46 earnings per share. Equities research analysts forecast that Saia will post 15.46 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its stake in shares of Saia by 11.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,831,614 shares of the transportation company’s stock worth $989,452,000 after purchasing an additional 288,746 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Saia by 17.3% during the first quarter. Alliancebernstein L.P. now owns 2,275,661 shares of the transportation company’s stock worth $795,184,000 after purchasing an additional 336,046 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Saia by 35.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,206,837 shares of the transportation company’s stock worth $421,705,000 after acquiring an additional 315,514 shares in the last quarter. Viking Global Investors LP acquired a new position in shares of Saia in the second quarter worth about $226,770,000. Finally, Wasatch Advisors LP lifted its stake in shares of Saia by 25.3% in the second quarter. Wasatch Advisors LP now owns 825,687 shares of the transportation company’s stock worth $226,230,000 after acquiring an additional 166,486 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.