Saia (NASDAQ:SAIA) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Saia (NASDAQ:SAIA) from a hold rating to a sell rating in a report issued on Tuesday, Zacks.com reports.

According to Zacks, “Saia Inc., is a leading multi-regional less-than-truckload (LTL) carrier. It is a leading transportation company that provides a variety of trucking transportation and supply chain solutions to a broad range of industries, including the retail, petrochemical and manufacturing industries. Saia Inc., serves a wide variety of customers by offering regional, interregional and national LTL services and selected TL services across the United States. It offers customers a wide range of less-than-truckload, non-asset truckload, and logistic services. Saia LTL Freight operates 152 terminals in 38 states and is headquartered in Johns Creek, Georgia. “

Other equities analysts have also recently issued reports about the stock. Cowen restated a hold rating on shares of PTC Therapeutics in a report on Thursday, May 2nd. Stephens set a $71.00 price target on shares of Saia and gave the company a hold rating in a report on Thursday, May 2nd. BidaskClub upgraded shares of ZIOPHARM Oncology from a buy rating to a strong-buy rating in a report on Monday, June 17th. Mizuho started coverage on shares of Merck & Co., Inc. in a report on Tuesday, July 2nd. They set a buy rating and a $97.00 price target on the stock. Finally, Seaport Global Securities upgraded shares of Saia from a neutral rating to a buy rating in a report on Wednesday, May 1st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. Saia currently has an average rating of Hold and an average price target of $74.18.

Saia stock opened at $65.44 on Tuesday. The firm’s fifty day moving average is $61.78. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.14 and a current ratio of 1.14. Saia has a 12 month low of $52.04 and a 12 month high of $83.75. The stock has a market cap of $1.62 billion, a PE ratio of 15.56 and a beta of 1.10.

Saia (NASDAQ:SAIA) last posted its quarterly earnings results on Wednesday, May 1st. The transportation company reported $0.85 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.05). Saia had a net margin of 6.35% and a return on equity of 15.59%. The company had revenue of $410.60 million for the quarter, compared to analysts’ expectations of $410.25 million. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Saia will post 4.51 earnings per share for the current year.

In related news, VP Paul C. Peck sold 1,265 shares of Saia stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $68.00, for a total value of $86,020.00. Following the completion of the sale, the vice president now owns 1,128 shares of the company’s stock, valued at approximately $76,704. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Saia by 1.0% in the fourth quarter. BlackRock Inc. now owns 3,711,230 shares of the transportation company’s stock valued at $207,161,000 after acquiring an additional 36,547 shares during the period. Texas Permanent School Fund raised its holdings in shares of Saia by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 16,814 shares of the transportation company’s stock valued at $939,000 after buying an additional 648 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Saia by 4.4% during the fourth quarter. Great West Life Assurance Co. Can now owns 32,858 shares of the transportation company’s stock valued at $1,693,000 after buying an additional 1,384 shares during the last quarter. Resources Investment Advisors Inc. bought a new stake in shares of Saia during the fourth quarter valued at approximately $36,000. Finally, Stifel Financial Corp raised its holdings in shares of Saia by 35.5% during the fourth quarter. Stifel Financial Corp now owns 254,168 shares of the transportation company’s stock valued at $14,215,000 after buying an additional 66,599 shares during the last quarter.

About Saia

Saia, Inc, through its subsidiaries, operates as a transportation company in North America. The company provides regional and interregional 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.

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