Saia (NASDAQ:SAIA) Shares Down 7.5% – What’s Next?

Shares of Saia, Inc. (NASDAQ:SAIA) dropped 7.5% on Monday . The stock traded as low as $408.87 and last traded at $408.30. Approximately 297,333 shares were traded during mid-day trading, a decline of 45% from the average daily volume of 545,328 shares. The stock had previously closed at $441.26.

Analyst Upgrades and Downgrades

SAIA has been the topic of several research analyst reports. Morgan Stanley restated an “underweight” rating and issued a $265.00 price objective on shares of Saia in a research report on Friday. Susquehanna cut shares of Saia from a “positive” rating to a “neutral” rating and upped their price objective for the stock from $390.00 to $425.00 in a research report on Wednesday, February 11th. Wells Fargo & Company upped their price objective on shares of Saia from $395.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Friday. Citigroup upped their price objective on shares of Saia from $428.00 to $516.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Evercore set a $476.00 price objective on shares of Saia in a research report on Friday. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $444.94.

Saia Price Performance

The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. The business’s 50-day simple moving average is $382.27 and its 200 day simple moving average is $346.91. The firm has a market capitalization of $10.80 billion, a P/E ratio of 42.52, a PEG ratio of 2.25 and a beta of 2.12.

Saia (NASDAQ:SAIA) last issued its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.04. Saia had a net margin of 7.84% and a return on equity of 9.60%. The business had revenue of $806.23 million for the quarter, compared to analysts’ expectations of $789.08 million. During the same period last year, the business earned $1.86 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Sell-side analysts forecast that Saia, Inc. will post 10.65 earnings per share for the current year.

Insider Buying and Selling at Saia

In other Saia news, VP Raymond R. Ramu sold 5,226 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $387.95, for a total transaction of $2,027,426.70. Following the transaction, the vice president directly owned 3,631 shares in the company, valued at $1,408,646.45. This trade represents a 59.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Frederick J. Holzgrefe III sold 4,775 shares of the stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $388.80, for a total transaction of $1,856,520.00. Following the transaction, the chief executive officer owned 22,743 shares in the company, valued at $8,842,478.40. The trade was a 17.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 15,533 shares of company stock valued at $6,015,055. 0.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Saia

A number of institutional investors have recently made changes to their positions in the stock. Alliancebernstein L.P. boosted its stake in shares of Saia by 35.4% during the third quarter. Alliancebernstein L.P. now owns 2,273,396 shares of the transportation company’s stock valued at $680,564,000 after purchasing an additional 594,674 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Saia by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,798,841 shares of the transportation company’s stock valued at $587,358,000 after purchasing an additional 43,690 shares during the period. Capital International Investors boosted its stake in shares of Saia by 0.8% during the third quarter. Capital International Investors now owns 1,419,062 shares of the transportation company’s stock valued at $424,794,000 after purchasing an additional 11,454 shares during the period. Viking Global Investors LP boosted its stake in shares of Saia by 67.2% during the third quarter. Viking Global Investors LP now owns 1,383,888 shares of the transportation company’s stock valued at $414,281,000 after purchasing an additional 556,229 shares during the period. Finally, Invesco Ltd. boosted its stake in shares of Saia by 31.7% during the fourth quarter. Invesco Ltd. now owns 923,912 shares of the transportation company’s stock valued at $301,676,000 after purchasing an additional 222,494 shares during the period.

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.