Saia (NASDAQ:SAIA) Stock Breaks Below 50 Day Moving Average – Here’s Why

Saia, Inc. (NASDAQ:SAIA – Get Free Report) shares passed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $341.08 and traded as low as $331.22. Saia shares last traded at $339.48, with a volume of 261,385 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of Saia from $438.00 to $423.00 and set a “buy” rating on the stock in a research note on Thursday, October 8th. JPMorgan Chase & Co. lifted their price target on shares of Saia from $463.00 to $468.00 and gave the company an “overweight” rating in a research note on Friday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Saia in a report on Friday, October 30th. Raymond James Financial reiterated an “outperform” rating and set a $410.00 price objective on shares of Saia in a report on Thursday, October 15th. Finally, Susquehanna cut their price objective on shares of Saia from $412.00 to $360.00 and set a “neutral” rating on the stock in a research report on Friday, October 2nd. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $432.26.

View Our Latest Research Report on SAIA

Saia Stock Performance

The stock has a market cap of $9.06 billion, a P/E ratio of 32.18, a P/E/G ratio of 2.59 and a beta of 2.09. The company has a fifty day moving average price of $341.08 and a 200 day moving average price of $387.17. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.83 and a quick ratio of 1.83.

Saia (NASDAQ:SAIA – Get Free Report) last issued its earnings results on Thursday, October 29th. The transportation company reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $3.30 by $0.11. Saia had a return on equity of 10.53% and a net margin of 8.01%. The company had revenue of $982.45 million for the quarter, compared to analyst estimates of $966.98 million. During the same period in the prior year, the firm earned $2.81 earnings per share. Saia’s revenue for the quarter was up 17.0% on a year-over-year basis. On average, equities analysts expect that Saia, Inc. will post 11.51 EPS for the current year.

Institutional Trading of Saia

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Alliance LLC lifted its stake in shares of Saia by 5.1% in the first quarter. Wealth Alliance LLC now owns 763 shares of the transportation company’s stock valued at $268,000 after buying an additional 37 shares in the last quarter. Handelsbanken Fonder AB increased its position in shares of Saia by 0.5% during the second quarter. Handelsbanken Fonder AB now owns 8,858 shares of the transportation company’s stock worth $3,731,000 after acquiring an additional 40 shares in the last quarter. Eagle Bay Advisors LLC increased its position in shares of Saia by 7.4% during the second quarter. Eagle Bay Advisors LLC now owns 638 shares of the transportation company’s stock worth $269,000 after acquiring an additional 44 shares in the last quarter. Sheets Smith Wealth Management raised its holdings in shares of Saia by 2.0% in the 2nd quarter. Sheets Smith Wealth Management now owns 2,687 shares of the transportation company’s stock worth $1,132,000 after acquiring an additional 52 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of Saia by 360.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company’s stock worth $29,000 after acquiring an additional 54 shares during the last quarter.

About Saia

(Get Free Report)

Saia, Inc. is a transportation company best known for its less-than-truckload (LTL) freight services, which combine shipments from multiple customers in a single truck. Its offerings include regional and interregional freight transportation, expedited and guaranteed services, and logistics solutions. Founded in 1924 in Houma, Louisiana, Saia has grown from a regional carrier into a network serving the contiguous United States. The company is headquartered in Johns Creek, Georgia, and also arranges service to Canada and Mexico through its transportation network and partners.

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