Wasatch Advisors LP Reduces Stock Position in Saia, Inc. $SAIA

Wasatch Advisors LP decreased its position in Saia, Inc. (NASDAQ:SAIA) by 51.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 342,773 shares of the transportation company’s stock after selling 366,107 shares during the period. Wasatch Advisors LP’s holdings in Saia were worth $144,362,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Saia by 52.4% in the first quarter. AQR Capital Management LLC now owns 1,781 shares of the transportation company’s stock valued at $622,000 after buying an additional 612 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Saia by 334.3% during the first quarter. Jones Financial Companies Lllp now owns 873 shares of the transportation company’s stock worth $305,000 after acquiring an additional 672 shares during the last quarter. California Public Employees Retirement System boosted its position in Saia by 4.3% during the second quarter. California Public Employees Retirement System now owns 32,543 shares of the transportation company’s stock worth $8,916,000 after acquiring an additional 1,356 shares during the last quarter. Qube Research & Technologies Ltd acquired a new stake in Saia during the second quarter worth approximately $11,599,000. Finally, Frontier Capital Management Co. LLC purchased a new stake in Saia in the 2nd quarter worth approximately $13,943,000.

Analyst Upgrades and Downgrades

SAIA has been the subject of several analyst reports. Susquehanna boosted their price target on Saia from $465.00 to $470.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Stephens decreased their price objective on Saia from $520.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. TD Cowen lowered their price objective on Saia from $445.00 to $400.00 and set a “hold” rating for the company in a research report on Friday, July 31st. Stifel Nicolaus upgraded Saia from a “hold” rating to a “buy” rating and set a $438.00 target price for the company in a research note on Friday, July 31st. Finally, Morgan Stanley reduced their target price on Saia from $295.00 to $285.00 and set an “underweight” rating on the stock in a research report on Friday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Saia presently has an average rating of “Moderate Buy” and an average target price of $449.67.

Saia Stock Performance

Shares of SAIA stock opened at $356.96 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.58 and a current ratio of 1.58. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of 34.46, a price-to-earnings-growth ratio of 1.60 and a beta of 2.14. Saia, Inc. has a one year low of $249.32 and a one year high of $494.71. The company has a 50 day moving average price of $422.39 and a 200 day moving average price of $406.48.

Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share for the quarter, beating analysts’ consensus estimates of $3.38 by $0.13. Saia had a net margin of 8.19% and a return on equity of 10.21%. The company had revenue of $956.49 million for the quarter, compared to analyst estimates of $956.20 million. During the same quarter last year, the business earned $2.67 EPS. Saia’s revenue for the quarter was up 17.1% on a year-over-year basis. Sell-side analysts anticipate that Saia, Inc. will post 11.46 EPS for the current year.

Saia Company Profile

Saia, Inc is a publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America. Headquartered in Johns Creek, Georgia, the company focuses on the efficient movement of time-sensitive freight for a diverse customer base that spans retail, manufacturing, automotive, and healthcare industries. By leveraging a network of terminals and service centers, Saia provides tailored solutions designed to optimize supply chain performance.

The company’s core offerings include regional, interregional, and national LTL shipping, supported by volumetric LTL and port intermodal services.