Saia (NASDAQ:SAIA) Shares Gap Down to $489.11

Saia, Inc. (NASDAQ:SAIA)’s share price gapped down before the market opened on Friday . The stock had previously closed at $489.11, but opened at $396.30. Saia shares last traded at $422.07, with a volume of 301,471 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SAIA shares. Evercore ISI raised their target price on Saia from $523.00 to $566.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 25th. StockNews.com downgraded Saia from a “hold” rating to a “sell” rating in a report on Monday, April 29th. TD Cowen upped their price target on Saia from $473.00 to $475.00 and gave the stock a “hold” rating in a research note on Thursday, June 6th. Susquehanna cut their price objective on Saia from $610.00 to $550.00 and set a “positive” rating for the company in a research report on Wednesday, June 12th. Finally, Raymond James lowered their target price on Saia from $540.00 to $520.00 and set an “outperform” rating on the stock in a report on Monday, June 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Saia currently has an average rating of “Hold” and an average target price of $502.18.

Saia Trading Down 17.9 %

The firm has a market cap of $10.68 billion, a PE ratio of 30.62, a PEG ratio of 1.72 and a beta of 1.72. The stock’s fifty day simple moving average is $447.41 and its two-hundred day simple moving average is $492.93. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.04.

Saia (NASDAQ:SAIA) last announced its quarterly earnings data on Friday, April 26th. The transportation company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.05). Saia had a net margin of 12.42% and a return on equity of 19.53%. The company had revenue of $754.80 million for the quarter, compared to the consensus estimate of $772.36 million. During the same quarter last year, the firm posted $2.85 earnings per share. The company’s revenue was up 14.3% compared to the same quarter last year. On average, sell-side analysts forecast that Saia, Inc. will post 15.32 EPS for the current fiscal year.

Insider Buying and Selling at Saia

In other news, Director John P. Gainor, Jr. acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average cost of $407.00 per share, for a total transaction of $203,500.00. Following the completion of the acquisition, the director now directly owns 900 shares of the company’s stock, valued at approximately $366,300. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.30% of the company’s stock.

Institutional Trading of Saia

A number of hedge funds have recently added to or reduced their stakes in the company. Pineridge Advisors LLC purchased a new position in Saia during the fourth quarter worth approximately $26,000. Core Wealth Advisors Inc. purchased a new position in Saia during the 4th quarter worth approximately $32,000. Blue Trust Inc. grew its stake in shares of Saia by 161.5% in the 2nd quarter. Blue Trust Inc. now owns 68 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 42 shares during the last quarter. Rise Advisors LLC purchased a new stake in Saia during the first quarter worth about $40,000. Finally, GAMMA Investing LLC acquired a new position in shares of Saia in the fourth quarter valued at approximately $43,000.

About Saia

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides 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. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.