Wells Fargo & Company Forecasts Strong Price Appreciation for Saia (NASDAQ:SAIA) Stock

Saia (NASDAQ:SAIA) had its price target lifted by research analysts at Wells Fargo & Company from $310.00 to $395.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 4.20% from the stock’s current price.

Several other equities analysts also recently commented on SAIA. TD Cowen reaffirmed a “hold” rating on shares of Saia in a research report on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Saia in a report on Monday, December 29th. Raymond James Financial dropped their target price on Saia from $360.00 to $355.00 and set an “outperform” rating for the company in a report on Tuesday, October 14th. Stephens boosted their target price on shares of Saia from $414.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Citigroup raised their price target on shares of Saia from $431.00 to $442.00 and gave the stock a “buy” rating in a research report on Wednesday. Nine research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $378.50.

Saia Stock Performance

SAIA opened at $379.08 on Wednesday. The company has a market capitalization of $10.10 billion, a price-to-earnings ratio of 39.82, a P/E/G ratio of 2.08 and a beta of 2.09. The business’s 50-day moving average price is $352.04 and its two-hundred day moving average price is $315.78. Saia has a 1 year low of $229.12 and a 1 year high of $507.39. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.64 and a quick ratio of 1.68.

Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Tuesday, February 10th. The transportation company reported $1.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.13). Saia had a return on equity of 9.86% and a net margin of 7.89%.The firm had revenue of $789.95 million for the quarter, compared to the consensus estimate of $773.82 million. During the same quarter in the previous year, the business posted $2.84 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year. Equities analysts expect that Saia will post 15.46 EPS for the current fiscal year.

Insider Activity at Saia

In other news, Director Donna E. Epps purchased 422 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was bought at an average cost of $277.60 per share, for a total transaction of $117,147.20. Following the acquisition, the director directly owned 1,852 shares of the company’s stock, valued at $514,115.20. This represents a 29.51% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Raymond R. Ramu sold 1,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $266.57, for a total transaction of $266,570.00. Following the completion of the sale, the vice president directly owned 4,902 shares in the company, valued at approximately $1,306,726.14. This trade represents a 16.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SAIA. Viking Global Investors LP purchased a new stake in Saia in the 2nd quarter worth approximately $226,770,000. Invesco Ltd. raised its holdings in shares of Saia by 1,300.4% during the third quarter. Invesco Ltd. now owns 701,418 shares of the transportation company’s stock valued at $209,976,000 after acquiring an additional 651,332 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Saia by 35.4% in the third quarter. Alliancebernstein L.P. now owns 2,273,396 shares of the transportation company’s stock worth $680,564,000 after acquiring an additional 594,674 shares during the period. Norges Bank bought a new stake in Saia in the fourth quarter valued at $130,411,000. Finally, First Trust Advisors LP raised its holdings in Saia by 141.3% in the 3rd quarter. First Trust Advisors LP now owns 557,129 shares of the transportation company’s stock worth $166,782,000 after purchasing an additional 326,206 shares in the last quarter.

About Saia

Saia, Inc is a publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America. Headquartered in Johns Creek, Georgia, the company focuses on the efficient movement of time-sensitive freight for a diverse customer base that spans retail, manufacturing, automotive, and healthcare industries. By leveraging a network of terminals and service centers, Saia provides tailored solutions designed to optimize supply chain performance.

The company’s core offerings include regional, interregional, and national LTL shipping, supported by volumetric LTL and port intermodal services.