Wells Fargo & Company Issues Pessimistic Forecast for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA) had its price target decreased by equities research analysts at Wells Fargo & Company from $510.00 to $400.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “equal weight” rating on the transportation company’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 6.09% from the company’s previous close.

A number of other brokerages have also issued reports on SAIA. Susquehanna boosted their target price on shares of Saia from $530.00 to $540.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Jefferies Financial Group boosted their target price on shares of Saia from $525.00 to $560.00 and gave the company a “buy” rating in a research note on Friday, January 10th. Stephens reiterated an “overweight” rating and set a $600.00 target price on shares of Saia in a research report on Thursday, February 6th. Barclays lowered their target price on Saia from $600.00 to $535.00 and set an “overweight” rating for the company in a research note on Monday, March 10th. Finally, Stifel Nicolaus raised Saia from a “hold” rating to a “buy” rating and set a $524.00 price objective for the company in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Saia currently has an average rating of “Moderate Buy” and an average price target of $520.28.

Saia Stock Performance

Shares of SAIA stock opened at $377.04 on Thursday. The stock’s 50-day moving average is $436.61 and its two-hundred day moving average is $465.39. Saia has a fifty-two week low of $342.68 and a fifty-two week high of $624.55. The firm has a market cap of $10.04 billion, a P/E ratio of 27.91, a PEG ratio of 2.24 and a beta of 1.89. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.57 and a quick ratio of 1.26.

Saia (NASDAQ:SAIA) last announced its earnings results on Friday, February 7th. The transportation company reported $2.84 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.03). The firm had revenue of $789.00 million during the quarter, compared to the consensus estimate of $794.69 million. Saia had a return on equity of 16.63% and a net margin of 11.28%. The business’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the business earned $3.33 EPS. Analysts predict that Saia will post 15.46 earnings per share for the current fiscal year.

Insider Activity at Saia

In other news, CEO Frederick J. Holzgrefe III sold 7,534 shares of the company’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $487.34, for a total transaction of $3,671,619.56. Following the completion of the sale, the chief executive officer now directly owns 17,645 shares in the company, valued at approximately $8,599,114.30. This represents a 29.92 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Patrick D. Sugar sold 799 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $493.74, for a total transaction 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,493 shares of company stock worth $4,646,181. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Raymond James Trust N.A. lifted its stake in shares of Saia by 10.5% in the third quarter. Raymond James Trust N.A. now owns 729 shares of the transportation company’s stock worth $319,000 after acquiring an additional 69 shares during the period. Citigroup Inc. raised its stake in Saia by 27.2% during the third quarter. Citigroup Inc. now owns 13,731 shares of the transportation company’s stock worth $6,004,000 after buying an additional 2,938 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Saia by 61.7% in the third quarter. BNP Paribas Financial Markets now owns 3,698 shares of the transportation company’s stock valued at $1,617,000 after buying an additional 1,411 shares during the period. Glenmede Trust Co. NA grew its holdings in Saia by 47.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 652 shares of the transportation company’s stock worth $285,000 after acquiring an additional 209 shares during the period. Finally, CreativeOne Wealth LLC bought a new position in shares of Saia in the 3rd quarter worth about $854,000.

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.