About 70% of goods shipped in the U.S. are shipped via trucks. When the supply chain crunch hit last year it set up a growth surge for truckers like Saia that continues this year. On Thursday, the IBD SmartSelect Composite Rating for Saia stock jumped to a near-perfect 96, up from 91 the day before.
The upgrade means Saia stock is now outpacing 96% of all other stocks in terms of key performance metrics and technical strength. It's a highly bullish indicator for the stock. The best stocks tend to have a 95 or better grade as they kick off a significant move, so it joins an elite group of the best stocks to buy and watch.
Saia Stock Lifted By Strong Earnings Growth
Atlanta-based Saia sports a best-possible 99 EPS Rating, which means its recent quarterly and annual earnings growth tops 99% of all stocks. Its 88 Relative Strength Rating puts Saia stock's performance among the top 12% over the past 52 weeks.
Additionally, Saia stock's Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
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In Q4, the company's earnings surged 83% to $2.72 per share. EPS grew 34%, 119% and then 83% the prior three quarters. Revenue grew 30% last quarter to $617.1 million, up from 28% growth in the prior report.
Saia stock rose above its 50-day line Wednesday and widened its gap above that key level on Thursday, rising 0.6% to close at 282.31. It's now out of buy range after clearing the 259.23 entry in a flat base. Watch for a fresh pattern such as a double-bottom base to form.
Saia earns the No. 4 rank among its peers in the Transportation-Truck industry group. Marten Transport and Old Dominion Freight Line are also among the top five stocks in the group.
