Saia Upgraded To Buy: Analyst Sees Long-Term Opportunity Amid Industry Tailwinds
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 24 2024
0mins
Source: Benzinga
- Stifel Analyst Upgrade: Stifel analyst J. Bruce Chan upgraded Saia, Inc. from Hold to Buy and adjusted the price target from $526 to $475.
- Reasoning Behind Upgrade: The upgrade was based on SAIA's potential to increase market share in a growing LTL industry with improving pricing power despite recent performance.
- Analyst's View on Saia: While acknowledging execution risks in growth plans, the analyst sees a fundamental opportunity for Saia with continued share growth potential.
- Revised EPS Estimates: The analyst revised EPS estimates for FY24 to $16.06 (from $15.45) and for FY25 to $19.50 (from $19.00).
- Investment Opportunities: Investors can consider exposure to Saia through ProShares Trust ProShares Supply Chain Logistics ETF SUPL and Alger Mid Cap 40 ETF FRTY.
Analyst Views on SAIA
Wall Street analysts forecast SAIA stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for SAIA is 350.29 USD with a low forecast of 250.00 USD and a high forecast of 431.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
18 Analyst Rating
9 Buy
9 Hold
0 Sell
Moderate Buy
Current: 360.340
Low
250.00
Averages
350.29
High
431.00
Current: 360.340
Low
250.00
Averages
350.29
High
431.00
About SAIA
Saia, Inc. is a transportation company. The Company provides less-than-truckload (LTL) services through a single integrated organization. It offers customers a wide range of other value-added services, including non-asset truckload, expedited and logistics services across North America. Saia Motor Freight Line, LLC (Saia LTL Freight), a subsidiary of the Company, is an LTL carrier that provides direct service to the 48 contiguous states and provides LTL services to Canada and Mexico through relationships with third-party interline carriers. Saia LTL Freight specializes in offering its customers a range of LTL services, including time-definite and expedited options. Saia LTL Freight provides its customers with solutions for shipments between 100 and 10,000 pounds. Saia LTL Freight operates a network comprised of 213 owned and leased terminals, plus three general offices and one warehouse and owns over 6,600 tractors and 26,200 trailers, including equipment acquired with finance leases.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
