Saia (NASDAQ:SAIA) Stock Price Down 5.5% – Here’s What Happened

Saia, Inc. (NASDAQ:SAIA)’s stock price fell 5.5% during mid-day trading on Wednesday . The company traded as low as $438.30 and last traded at $431.8490. 322,050 shares were traded during trading, a decline of 37% from the average daily volume of 507,539 shares. The stock had previously closed at $457.02.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SAIA. Evercore set a $476.00 target price on shares of Saia in a research report on Friday, May 1st. Weiss Ratings raised shares of Saia from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of Saia from a “sell” rating to a “hold” rating in a research note on Monday, May 4th. Susquehanna increased their price objective on shares of Saia from $425.00 to $465.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 2nd. Finally, Benchmark reissued a “buy” rating on shares of Saia in a research note on Wednesday, June 3rd. Nine analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $454.00.

Saia Trading Up 2.2%

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 firm has a market cap of $11.60 billion, a price-to-earnings ratio of 45.71, a price-to-earnings-growth ratio of 2.03 and a beta of 2.10. The business has a 50 day moving average price of $447.87 and a 200-day moving average price of $387.97.

Saia (NASDAQ:SAIA) last announced its earnings results on Thursday, April 30th. The transportation company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.82 by $0.04. The business had revenue of $806.23 million for the quarter, compared to the consensus estimate of $789.08 million. Saia had a return on equity of 9.60% and a net margin of 7.84%.The company’s revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $1.86 EPS. As a group, research analysts expect that Saia, Inc. will post 11.4 EPS for the current fiscal year.

Institutional Trading of Saia

A number of hedge funds have recently made changes to their positions in SAIA. Lincoln Capital Corp acquired a new stake in Saia during the fourth quarter valued at approximately $1,371,000. M&T Bank Corp grew its position in shares of Saia by 383.7% in the 4th quarter. M&T Bank Corp now owns 26,524 shares of the transportation company’s stock worth $8,661,000 after acquiring an additional 21,041 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Saia in the 4th quarter worth approximately $1,692,000. Westfield Capital Management Co. LP increased its holdings in shares of Saia by 31.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 227,908 shares of the transportation company’s stock valued at $68,227,000 after acquiring an additional 54,813 shares during the last quarter. Finally, Hudson Bay Capital Management LP bought a new stake in shares of Saia in the 3rd quarter valued at approximately $9,389,000.

About Saia

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.