Primecap Management Co. CA Invests $22.92 Million in Saia, Inc. $SAIA

Primecap Management Co. CA acquired a new stake in Saia, Inc. (NASDAQ:SAIA) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 54,420 shares of the transportation company’s stock, valued at approximately $22,920,000.

Other large investors also recently modified their holdings of the company. Montag A & Associates Inc. bought a new stake in shares of Saia in the 1st quarter valued at $1,505,000. Marks Group Wealth Management Inc boosted its stake in Saia by 32.9% during the first quarter. Marks Group Wealth Management Inc now owns 19,040 shares of the transportation company’s stock worth $6,688,000 after acquiring an additional 4,717 shares in the last quarter. London Co. of Virginia boosted its stake in Saia by 10.5% during the first quarter. London Co. of Virginia now owns 86,774 shares of the transportation company’s stock worth $30,484,000 after acquiring an additional 8,255 shares in the last quarter. California State Teachers Retirement System grew its holdings in Saia by 23.1% in the first quarter. California State Teachers Retirement System now owns 30,917 shares of the transportation company’s stock worth $10,861,000 after purchasing an additional 5,810 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Saia by 464.5% in the first quarter. Hsbc Holdings PLC now owns 6,441 shares of the transportation company’s stock worth $2,240,000 after purchasing an additional 5,300 shares during the period.

Wall Street Analyst Weigh In

SAIA has been the topic of several research reports. Wall Street Zen upgraded shares of Saia from a “sell” rating to a “hold” rating in a report on Monday, May 4th. Bank of America upgraded Saia from a “neutral” rating to a “buy” rating and raised their target price for the company from $499.00 to $502.00 in a research note on Monday, July 13th. BMO Capital Markets boosted their target price on Saia from $450.00 to $470.00 and gave the company a “market perform” rating in a research report on Thursday, June 4th. Barclays dropped their price target on Saia from $500.00 to $475.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Finally, Evercore upgraded Saia from an “in-line” rating to an “outperform” rating in a report on Wednesday, July 1st. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $449.67.

Saia Stock Performance

Shares of SAIA stock opened at $349.83 on Thursday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.04. The firm has a fifty day simple moving average of $399.48 and a two-hundred day simple moving average of $406.62. Saia, Inc. has a 12 month low of $249.32 and a 12 month high of $494.71. The firm has a market capitalization of $9.33 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 1.55 and a beta of 2.14.

Saia (NASDAQ:SAIA) last released its quarterly earnings data 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. The firm had revenue of $956.49 million for the quarter, compared to analyst estimates of $956.20 million. Saia had a net margin of 8.19% and a return on equity of 10.21%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the firm earned $2.67 earnings per share. Analysts forecast that Saia, Inc. will post 11.44 EPS for the current fiscal year.

Saia 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.