Saia Analysts Increase Their Forecasts After Stronger-Than-Expected Q2 Earnings

Saia, Inc. (NASDAQ SAIA) reported better-than-expected second-quarter earnings results on Friday.

Saia reported quarterly earnings of $2.67 per share which beat the analyst consensus estimate of $2.42 per share. The company reported quarterly sales of $817.12 million which missed the analyst consensus estimate of $818.58 million.

Saia President and CEO, Fritz Holzgrefe, said, “I was pleased with our team’s ability to focus on what was within our control in the second quarter. Our continued emphasis on taking care of the customer in all of our markets, mix management, and managing costs to adjust to current volume trends demonstrated our ability to navigate a dynamic backdrop.” 

Saia shares fell 2% to trade at $326.82 on Monday.

These analysts made changes to their price targets on Saia following earnings announcement.

• Susquehanna analyst Bascome Majors maintained Saia with a Neutral and raised the price target from $275 to $340.
• Benchmark analyst Christopher Kuhn maintained the stock with a Buy and raised the price target from $325 to $360.
• Evercore ISI Group analyst Jonathan Chappell maintained Saia with an Outperform rating and raised the price target from $297 to $345.
• Barclays analyst Brandon Oglenski maintained Saia with an Overweight rating and raised the price target from $315 to $350.
• Wells Fargo analyst Christian Wetherbee maintained the stock with an Equal-Weight rating and raised the price target from $290 to $365.

Considering buying SAIA stock? Here’s what analysts think:

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