JPMorgan Lowers Saia Price Target to $463 Amid Mixed Analyst Views

Analysts at JPMorgan Chase & Co. adjusted their price target for Saia (NASDAQ: SAIA) from $490.00 to $463.00 in a recent note to investors. Despite this reduction, the firm maintained an "overweight" rating on the transportation company's stock. The new price target suggests a potential upside of 32.45% from the stock's previous close.

Several other brokerages have also recently updated their ratings and price targets for Saia. Susquehanna lowered its target from $412.00 to $360.00 and assigned a "neutral" rating. Barclays reduced its target from $500.00 to $475.00 while keeping an "overweight" rating. Morgan Stanley cut its target from $295.00 to $285.00 and set an "underweight" rating. TD Cowen decreased its target from $445.00 to $400.00 with a "hold" rating. Weiss Ratings reiterated a "hold (c)" rating.

According to MarketBeat.com, Saia has a consensus rating of "Moderate Buy" among analysts, with a consensus target price of $441.16. The stock has a market cap of $9.32 billion and a price-to-earnings ratio of 33.63. Institutional investors have been active, with several adjusting their stakes in the company during the second quarter.

Saia reported its quarterly earnings on July 30th, with earnings per share of $3.51, exceeding analysts' estimates of $3.38. The company's revenue was $956.49 million for the quarter, up 17.1% compared to the same period last year. The stock traded down $1.55 on Monday, reaching $349.57.