Saia, Inc. (NASDAQ:SAIA – Get Rating) – Equities research analysts at KeyCorp reduced their Q3 2022 earnings per share (EPS) estimates for shares of Saia in a research report issued on Wednesday, September 7th. KeyCorp analyst T. Fowler now forecasts that the transportation company will post earnings of $3.75 per share for the quarter, down from their previous forecast of $3.86. The consensus estimate for Saia's current full-year earnings is $13.81 per share. KeyCorp also issued estimates for Saia's Q4 2022 earnings at $3.18 EPS, FY2022 earnings at $14.00 EPS and FY2023 earnings at $14.25 EPS.
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Saia (NASDAQ:SAIA – Get Rating) last issued its quarterly earnings data on Wednesday, July 27th. The transportation company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.62. The business had revenue of $745.55 million during the quarter, compared to analysts' expectations of $731.26 million. Saia had a return on equity of 26.79% and a net margin of 12.96%. The company's revenue for the quarter was up 30.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.34 EPS.
Several other equities analysts have also recently issued reports on the company. Susquehanna boosted their price objective on Saia from $265.00 to $270.00 in a report on Thursday, July 28th. The Goldman Sachs Group dropped their target price on Saia from $291.00 to $257.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 7th. Stifel Nicolaus dropped their target price on Saia from $238.00 to $229.00 in a research report on Thursday, July 28th. UBS Group upgraded Saia from a "neutral" rating to a "buy" rating and raised their target price for the company from $213.00 to $240.00 in a research report on Monday, May 23rd. Finally, Evercore ISI dropped their target price on Saia from $298.00 to $250.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Saia currently has an average rating of "Moderate Buy" and an average target price of $267.71.
Saia Stock Performance
Shares of SAIA stock opened at $202.28 on Monday. The stock has a market cap of $5.34 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.74 and a beta of 1.44. The business has a 50-day simple moving average of $218.11 and a 200-day simple moving average of $219.59. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.02. Saia has a 52-week low of $168.03 and a 52-week high of $365.50.
Insider Activity at Saia
In other news, Director Richard D. Odell sold 10,717 shares of Saia stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $235.92, for a total transaction of $2,528,354.64. Following the transaction, the director now owns 13,356 shares in the company, valued at approximately $3,150,947.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Saia news, Director Richard D. Odell sold 10,717 shares of the business's stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $235.92, for a total value of $2,528,354.64. Following the transaction, the director now directly owns 13,356 shares in the company, valued at approximately $3,150,947.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas L. Col sold 1,671 shares of the business's stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $241.24, for a total transaction of $403,112.04. Following the completion of the transaction, the chief financial officer now owns 6,505 shares in the company, valued at $1,569,266.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,301 shares of company stock valued at $9,727,819. 0.50% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Saia
Institutional investors have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD raised its position in shares of Saia by 157.4% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,500,405 shares of the transportation company's stock worth $658,076,000 after acquiring an additional 2,140,625 shares in the last quarter. Congress Asset Management Co. MA increased its position in Saia by 21,243.8% during the 1st quarter. Congress Asset Management Co. MA now owns 451,207 shares of the transportation company's stock worth $110,013,000 after purchasing an additional 449,093 shares in the last quarter. Artemis Investment Management LLP increased its position in Saia by 52.5% during the 1st quarter. Artemis Investment Management LLP now owns 1,025,569 shares of the transportation company's stock worth $249,643,000 after purchasing an additional 353,020 shares in the last quarter. Capital International Investors increased its position in Saia by 28.0% during the 4th quarter. Capital International Investors now owns 1,437,238 shares of the transportation company's stock worth $484,392,000 after purchasing an additional 314,246 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Saia by 49.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 712,195 shares of the transportation company's stock worth $173,648,000 after purchasing an additional 236,105 shares in the last quarter.
About Saia
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Saia, Inc, through its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 400 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. As of December 31, 2021, it operated 176 owned and leased facilities; and owned approximately 5,600 tractors and 19,300 trailers.
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