Saia, Inc. (NASDAQ:SAIA) Sees Large Increase in Short Interest

Saia, Inc. (NASDAQ:SAIA) was the target of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 1,733,980 shares, a growth of 22.1% from the January 29th total of 1,420,473 shares. Currently, 6.5% of the company’s shares are sold short. Based on an average daily trading volume, of 797,751 shares, the days-to-cover ratio is currently 2.2 days. Based on an average daily trading volume, of 797,751 shares, the days-to-cover ratio is currently 2.2 days. Currently, 6.5% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Saia from $349.00 to $365.00 and gave the stock an “overweight” rating in a research note on Monday, January 12th. Barclays upped their price target on shares of Saia from $380.00 to $400.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. Benchmark raised their price objective on Saia from $360.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Evercore set a $435.00 price objective on Saia in a research note on Wednesday, February 11th. Finally, Stephens increased their target price on Saia from $414.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Nine analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $380.47.

Saia Stock Performance

NASDAQ:SAIA opened at $414.43 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a 50-day moving average of $370.18 and a two-hundred day moving average of $325.55. The stock has a market cap of $11.05 billion, a P/E ratio of 43.53, a PEG ratio of 2.22 and a beta of 2.04. Saia has a 1-year low of $229.12 and a 1-year high of $430.11.

Saia (NASDAQ:SAIA) last released its earnings results on Tuesday, February 10th. The transportation company reported $1.77 EPS for the quarter, missing the consensus estimate of $1.90 by ($0.13). The business had revenue of $789.95 million for the quarter, compared to analysts’ expectations of $773.82 million. Saia had a net margin of 7.89% and a return on equity of 9.86%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the company posted $2.84 earnings per share. On average, research analysts expect that Saia will post 15.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Saia news, CEO Frederick J. Holzgrefe III sold 4,775 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $388.80, for a total transaction of $1,856,520.00. Following the completion of the sale, the chief executive officer owned 22,743 shares of the company’s stock, valued at approximately $8,842,478.40. The trade was a 17.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew J. Batteh sold 1,110 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $375.71, for a total value of $417,038.10. Following the sale, the chief financial officer owned 5,360 shares of the company’s stock, valued at $2,013,805.60. This represents a 17.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 15,533 shares of company stock worth $6,015,055. Corporate insiders own 0.30% of the company’s stock.

Hedge Funds Weigh In On Saia

A number of hedge funds have recently bought and sold shares of SAIA. Wilson Asset Management International PTY Ltd. bought a new stake in shares of Saia in the 3rd quarter valued at approximately $1,538,000. Stephens Investment Management Group LLC boosted its holdings in Saia by 3.7% in the third quarter. Stephens Investment Management Group LLC now owns 117,946 shares of the transportation company’s stock worth $35,308,000 after purchasing an additional 4,155 shares during the period. Voya Investment Management LLC increased its stake in Saia by 35.1% during the third quarter. Voya Investment Management LLC now owns 220,456 shares of the transportation company’s stock valued at $65,996,000 after purchasing an additional 57,307 shares during the last quarter. Capital Fund Management S.A. acquired a new stake in shares of Saia during the second quarter worth $7,532,000. Finally, First Trust Advisors LP lifted its position in shares of Saia by 5.8% in the 2nd quarter. First Trust Advisors LP now owns 230,923 shares of the transportation company’s stock worth $63,271,000 after buying an additional 12,669 shares during the last quarter.

About Saia

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.