Saia (NASDAQ:SAIA) Trading Down 8.6% – Here’s What Happened

Saia, Inc. (NASDAQ:SAIA)’s stock price fell 8.6% during mid-day trading on Friday . The company traded as low as $360.50 and last traded at $362.50. 116,965 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 539,798 shares. The stock had previously closed at $396.62.

Analysts Set New Price Targets

A number of research firms have recently commented on SAIA. TD Cowen reaffirmed a “hold” rating on shares of Saia in a research report on Friday, January 9th. Evercore set a $435.00 price objective on Saia in a research report on Wednesday, February 11th. Morgan Stanley cut Saia from an “equal weight” rating to an “underweight” rating and set a $250.00 target price for the company. in a research note on Tuesday, February 10th. Rothschild & Co Redburn set a $262.00 target price on shares of Saia in a report on Wednesday, November 26th. Finally, Bank of America lifted their price target on shares of Saia from $413.00 to $429.00 and gave the company a “neutral” rating in a research note on Tuesday. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $380.47.

Saia Trading Down 9.3%

The company has a market capitalization of $9.60 billion, a P/E ratio of 37.79, a price-to-earnings-growth ratio of 1.93 and a beta of 2.04. The business has a fifty day moving average price of $372.10 and a 200 day moving average price of $326.62. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.06.

Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Tuesday, February 10th. The transportation company reported $1.77 earnings per share for the quarter, missing the consensus estimate 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 analyst estimates of $773.82 million. During the same period in the prior year, the company earned $2.84 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, analysts expect that Saia, Inc. will post 15.46 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Kelly W. Benton sold 800 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $389.00, for a total value of $311,200.00. Following the sale, the chief accounting officer owned 3,157 shares of the company’s stock, valued at $1,228,073. The trade was a 20.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Raymond R. Ramu sold 5,226 shares of the business’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $387.95, for a total transaction of $2,027,426.70. Following the completion of the sale, the vice president directly owned 3,631 shares in the company, valued at approximately $1,408,646.45. This represents a 59.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 15,533 shares of company stock worth $6,015,055. 0.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Saia

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAIA. AQR Capital Management LLC boosted its stake in shares of Saia by 52.4% during the 1st quarter. AQR Capital Management LLC now owns 1,781 shares of the transportation company’s stock worth $622,000 after buying an additional 612 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Saia by 334.3% in the first quarter. Jones Financial Companies Lllp now owns 873 shares of the transportation company’s stock valued at $305,000 after acquiring an additional 672 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Saia by 177.5% during the second quarter. Parkside Financial Bank & Trust now owns 111 shares of the transportation company’s stock worth $30,000 after acquiring an additional 71 shares in the last quarter. ProShare Advisors LLC raised its holdings in Saia by 3.8% during the second quarter. ProShare Advisors LLC now owns 1,238 shares of the transportation company’s stock worth $339,000 after acquiring an additional 45 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its position in Saia by 4.2% during the second quarter. TimesSquare Capital Management LLC now owns 121,315 shares of the transportation company’s stock valued at $33,239,000 after purchasing an additional 4,915 shares during the last quarter.

Saia Company Profile

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.