JPMorgan Chase & Co. Has Lowered Expectations for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA) had its target price dropped by JPMorgan Chase & Co. from $498.00 to $490.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 38.73% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Citigroup decreased their price objective on shares of Saia from $488.00 to $423.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Susquehanna raised their price target on Saia from $465.00 to $470.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. UBS Group decreased their price target on Saia from $527.00 to $504.00 and set a “buy” rating for the company in a report on Friday, July 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Saia in a research report on Monday, August 3rd. Finally, Morgan Stanley cut their target price on Saia from $295.00 to $285.00 and set an “underweight” rating on the stock in a research report on Friday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $449.22.

Saia Stock Up 2.1%

Shares of SAIA stock traded up $7.41 during trading hours on Friday, reaching $353.22. 159,654 shares of the stock were exchanged, compared to its average volume of 487,343. The business’s fifty day moving average is $388.89 and its two-hundred day moving average is $404.58. The firm has a market capitalization of $9.42 billion, a P/E ratio of 34.13, a P/E/G ratio of 1.49 and a beta of 2.14. Saia has a 12-month low of $249.32 and a 12-month high of $494.71. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 1.58.

Saia (NASDAQ:SAIA) last posted its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, topping the consensus estimate of $3.38 by $0.13. Saia had a net margin of 8.19% and a return on equity of 10.21%. The company had revenue of $956.49 million during the quarter, compared to analysts’ expectations of $956.20 million. During the same quarter in the previous year, the business posted $2.67 EPS. The firm’s revenue was up 17.1% on a year-over-year basis. As a group, research analysts expect that Saia will post 11.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LP lifted its stake in Saia by 20.0% in the second quarter. Corient Private Wealth LP now owns 1,040 shares of the transportation company’s stock valued at $438,000 after buying an additional 173 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Saia during the second quarter worth approximately $724,000. California State Teachers Retirement System grew its position in shares of Saia by 41,005.2% during the second quarter. California State Teachers Retirement System now owns 12,708,503 shares of the transportation company’s stock worth $5,352,313,000 after acquiring an additional 12,677,586 shares during the last quarter. HB Wealth Management LLC increased its holdings in shares of Saia by 42.2% in the 2nd quarter. HB Wealth Management LLC now owns 1,314 shares of the transportation company’s stock valued at $554,000 after acquiring an additional 390 shares during the period. Finally, Azimuth Capital Investment Management LLC acquired a new position in shares of Saia in the 2nd quarter valued at $9,789,000.

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.