JPMorgan Chase & Co. Issues Pessimistic Forecast for Saia (NASDAQ:SAIA) Stock Price

Saia (NASDAQ:SAIA) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $490.00 to $463.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the transportation company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 35.52% from the stock’s current price.

A number of other equities research analysts also recently weighed in on SAIA. TD Cowen dropped their price objective on Saia from $445.00 to $400.00 and set a “hold” rating on the stock in a research report on Friday, July 31st. Bank of America reiterated a “buy” rating on shares of Saia in a report on Friday, September 4th. Stephens decreased their price target on shares of Saia from $520.00 to $490.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Raymond James Financial decreased their price target on shares of Saia from $477.00 to $475.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Finally, Sanford C. Bernstein began coverage on shares of Saia in a report on Thursday, September 10th. They issued an “outperform” rating and a $439.00 price target on the stock. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $441.16.

Saia Stock Down 1.3%

Saia stock opened at $341.65 on Monday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.04. The firm has a market cap of $9.11 billion, a P/E ratio of 32.98, a P/E/G ratio of 2.79 and a beta of 2.19. The business has a fifty day moving average of $352.56 and a two-hundred day moving average of $399.60. Saia has a twelve month low of $249.32 and a twelve month high of $494.71.

Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.13. The business had revenue of $956.49 million for the quarter, compared to the consensus estimate of $956.20 million. Saia had a return on equity of 10.21% and a net margin of 8.19%.The business’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business posted $2.67 EPS. On average, analysts forecast that Saia will post 11.43 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Danske Bank A S purchased a new stake in Saia in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Saia during the second quarter valued at about $27,000. Meeder Asset Management Inc. increased its holdings in shares of Saia by 360.0% during the second quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 54 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Saia in the 2nd quarter valued at approximately $64,000. Finally, Versant Capital Management Inc boosted its stake in Saia by 65.6% in the 2nd quarter. Versant Capital Management Inc now owns 154 shares of the transportation company’s stock worth $65,000 after purchasing an additional 61 shares in the last quarter.

About Saia

Saia, Inc is a transportation and logistics company headquartered in Johns Creek, Georgia. Its primary business is less-than-truckload (LTL) freight transportation, serving shippers whose shipments do not require a full truck. Through its Saia LTL Freight subsidiary, the company provides regional and interregional freight services, including standard, expedited and time-definite delivery options.

Saia also provides third-party logistics services through Saia Logistics Services. These offerings can include the coordination of truckload, LTL, intermodal and other transportation solutions, allowing customers to manage a broader range of shipping needs through one provider.

The company traces its history to 1924, when it began operations in Louisiana.