Saia provides Q4 LTL operating data » 07:3212/0212/02/20
Saia, Inc. is providing…
Saia, Inc. is providing LTL shipment and tonnage data for the first two months of the fourth quarter. In October 2020, LTL shipments per workday increased 3.3%, LTL tonnage per workday increased 5.7% and LTL weight per shipment increased 2.4% to 1,316 pounds compared to 1,285 pounds in October 2019. In November 2020, LTL shipments per workday increased 4.4%, LTL tonnage per workday increased 7.3% and LTL weight per shipment increased 2.8% to 1,341 pounds compared to 1,305 pounds in November 2019.
Saia price target raised to $232 from $220 at Deutsche Bank » 07:1811/3011/30/20
Deutsche Bank analyst…
Deutsche Bank analyst Amit Mehrotra raised the firm's price target on Saia to $232 from $220 and keeps a Buy rating on the shares. The analyst says his "long-held bullish stance on Transportation equities continues unabated in 2021." Mehrotra is optimistic that earnings power can be well ahead of expectations, reflecting the "positive inflection" in the U.S. industrial economy, housing demand, inventory restocking, and release of pent-up consumer demand.
|Over a week ago|
Saia price target raised to $220 from $160 at Deutsche Bank » 06:5111/0911/09/20
Deutsche Bank analyst…
Deutsche Bank analyst Amit Mehrotra raised the firm's price target on Saia to $220 from $160 and keeps a Buy rating on the shares. The analyst sees "plenty of further upside potential" in the shares shares from here, saying the key will be management's "consistent execution to deliver on its potential."
|Over a month ago|
Saia price target raised to $160 from $150 at Deutsche Bank » 07:3210/3010/30/20
Deutsche Bank analyst…
Deutsche Bank analyst Amit Mehrotra raised the firm's price target on Saia to $160 from $150 and keeps a Buy rating on the shares. The analyst remains positive on the shares following the company's "strong" Q3 results.
Saia reports Q3 EPS $1.56, consensus $1.30 » 07:3410/2910/29/20
Reports Q3 revenue…
Reports Q3 revenue $481.37M, consensus $470.96M. "Our third quarter results reflect a continuation of the improving volume trends we experienced in the middle of the second quarter and our continued focus on pricing and execution," stated Saia President and Chief Executive Officer, Fritz Holzgrefe. "Tonnage per workday was flat compared to the prior year and we were able to grow revenue per shipment by 1.6% despite fuel surcharge revenue being down nearly 17% from a year ago," Holzgrefe added. "To post a record operating ratio in one of the most volatile operating environments we have experienced in recent memory, is a tribute to the thousands of Saia employees who continue to deliver excellent service to our customers in these trying times," said Holzgrefe.
Saia opens new, 60% larger cross-dock facility in Memphis » 16:4110/1210/12/20
Saia announced the…
Saia announced the opening of its new, larger Saia LTL Freight cross-dock facility in Memphis, Tennessee. The 200 door terminal continues includes an eight bay maintenance facility and a high speed fueling station. Saia will still employ nearly 300 team members at the new terminal, which has the space to accommodate an expansion over time as the company continues to see long-term growth both in Memphis and nationally. This is the third Saia re-location in the last couple of months. Saia recently moved its operations to new, larger facilities in Sherman and Wichita Falls, Texas. Earlier this year, Saia moved its Las Vegas, Nevada terminal and this November, it will be moving its Green Bay, Wisconsin operations to a new facility as well. "The new terminal is 60 percent larger than our previous facility and will allow us to meet the needs of our shippers today and for the foreseeable future," said executive VP of operations Paul Peck. "It's a significant investment in our network, and the community, and is another flagship facility that we are tremendously proud of."
Saia initiated with an Equal Weight at Wells Fargo » 16:2109/2309/23/20
Wells Fargo analyst…
Wells Fargo analyst Allison Poliniak-Cusic initiated coverage of Saia (SAIA) with an Equal Weight rating and $128 price target. The analyst rolled out coverage of the Trucking and Logistics sector, saying the shares have fared well despite a challenging economic backdrop. Valuations are currently reflecting the near-term optimism on the efficiency gains that companies have made, says Poliniak-Cusic, who looks to be "more selective in this environment." The analyst's top ideas are Knight-Swift Transportation (KNX), J B Hunt Transport Services (JBHT), XPO Logistics (XPO), and Hub Group (HUBG), in order of preference.
Saia named 'Buy Catalyst Call' at Deutsche Bank » 20:0409/0709/07/20
Deutsche Bank analyst…
Deutsche Bank analyst Amit Mehrotra placed a "Buy Catalyst Call" on shares of Saia. The analyst is forecasting a 12% EPS beat, with Q3 EPS of $1.38 versus consensus of $1.24. Based on channel checks, the analyst believes Saia responded to strong increases in LTL demand during the quarter with outsized price increases, specifically on its 3PL customers, which he estimates accounts for up to 20% of the company's book of business. This has come at the cost of shipment declines, but "clearly the net impact of potential pricing actions is a big positive," Mehrotra contends. As such, the analyst believes Saia's OR improvement has potential to be +200bps sequentially, or double management's previous guidance of +100bps sequential improvement. This should allow OR to get back to the high-80% level, which helps support the path to mid-80% OR and the significant increase in earnings power that comes with that profit improvement, he adds.
|Over a quarter ago|
Saia reports July LTL shipments per workday increased 1.5% » 07:3709/0209/02/20
Saia is providing LTL…
Saia is providing LTL shipment and tonnage data for the first two months of the third quarter. In July 2020, LTL shipments per workday increased 1.5%, LTL tonnage per workday declined 2.7% and LTL weight per shipment declined 4.1% to 1,267 pounds compared to 1,321 pounds in July 2019. In August 2020, LTL shipments per workday declined 0.1%, LTL tonnage per workday increased 0.5% and LTL weight per shipment increased 0.6% to 1,297 pounds compared to 1,289 pounds in August 2019.
Fly Intel: Top five analyst initiations » 10:0208/2708/27/20
GRWG, ARCB, SAIA, RCEL, MRVL, HZNP
Catch up on today's…
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. GrowGeneration (GRWG) initiated with a Buy at Stifel. 2. ArcBest (ARCB) was initiated with a Buy at Goldman Sachs while Saia (SAIA) was initiated with a Neutral. 3. Avita Medical (RCEL) assumed with a Buy at BofA. 4. Marvell (MRVL) initiated with an Outperform at Credit Suisse. 5. Horizon Therapeutics (HZNP) initiated with a Buy at Citi. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.