Benzinga - by Avi Kapoor, Benzinga Staff Writer.
Saia, Inc. (NASDAQ: SAIA) reported better-than-expected fourth-quarter financial results on Friday.
Saia posted quarterly earnings of $3.33 per share, beating market estimates of $3.20 per share. The company’s quarterly sales came in at $751.13 million versus expectations of $744.99 million, according to data from Benzinga Pro.
Saia President and CEO, Fritz Holzgrefe, said, “I am pleased to bring 2023 to a close by reporting that our fourth quarter operating ratio improved by 90 basis points year-over-year to 85.0%. Our market share gains have been meaningful since last summer's industry disruption, and it has been very satisfying for our organization to step up and provide excellent service to both new and existing customers. To this end, we have onboarded nearly 1,500 new associates since the end of the second quarter and closed the year with just under 14,000 employees company-wide.”
Saia shares fell 0.3% to trade at $532.95 on Monday.
These analysts made changes to their price targets on Saia after the company reported quarterly results.
- BMO Capital raised the price target on Saia from $450 to $515. BMO Capital analyst Fadi Chamoun maintained a Market Perform rating.
- Goldman Sachs boosted Saia price target from $398 to $446. Goldman Sachs analyst Jordan Alliger maintained a Neutral rating.
- Benchmark boosted the price target on Saia from $475 to $575. Benchmark analyst Christopher Kuhn maintained a Buy rating.
- UBS raised the price target on Saia from $475 to $618. UBS analyst Thomas Wadewitz maintained a Buy rating.
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Latest Ratings for SAIA
| Feb 2022 | Morgan Stanley | Maintains | Underweight | |
| Feb 2022 | Wells Fargo | Maintains | Overweight | |
| Jan 2022 | Deutsche Bank | Upgrades | Hold | Buy |
View the Latest Analyst Ratings
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