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BofA Securities Downgrades Saia Inc. (SAIA) to Underperform on Deteriorating Demand

December 1, 2022 6:05 AM EST
Get Alerts SAIA Hot Sheet
Price: $286.36 -0.43%

Rating Summary:
    9 Buy, 10 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 32 | New: 9
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(Updated - December 1, 2022 9:14 AM EST)

BofA Securities analyst Ariel Rosa downgraded Saia Inc. (NASDAQ: SAIA) from Neutral to Underperform with a price target of $215.00 (from $216.00).

The analyst commented, "We lower our rating on SAIA’s shares to Underperform from Neutral as demand deteriorates faster than the declines we expected. We lower our PO to $215 from $216 on 16.2x (from 16.0x) our 2023e EPS, below its 17.5x average, as EPS risk continues to rise. We lower our 4Qe tons/day to -6.9% from -3.5%. We lower our 4Q22/2022/2023 EPS estimates 5%/1%/2%, to $2.86/$13.60/$13.25, from $3.00/$13.75/$13.50. Saia stock is up 27% over the past month (vs. S&P500 +6%), above the +9% average of XPO (+28%), TFII (+22%), ODFL (+12%), ARCB (+7%), YELL (-24%)"

For an analyst ratings summary and ratings history on Saia Inc. click here. For more ratings news on Saia Inc. click here.

Shares of Saia Inc. closed at $243.59 yesterday.


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