Edgestream Partners L.P. Purchases New Holdings in Saia, Inc. $SAIA

Edgestream Partners L.P. acquired a new position in shares of Saia, Inc. (NASDAQ:SAIA) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 26,695 shares of the transportation company’s stock, valued at approximately $7,314,000. Edgestream Partners L.P. owned 0.10% of Saia at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Neuberger Berman Group LLC raised its position in Saia by 403.3% during the 2nd quarter. Neuberger Berman Group LLC now owns 181,583 shares of the transportation company’s stock worth $49,752,000 after buying an additional 145,506 shares during the last quarter. Norges Bank acquired a new position in shares of Saia during the second quarter worth about $103,599,000. Quadrature Capital Ltd purchased a new position in Saia during the second quarter worth about $3,879,000. Hsbc Holdings PLC lifted its position in Saia by 81.5% in the second quarter. Hsbc Holdings PLC now owns 4,119 shares of the transportation company’s stock valued at $1,133,000 after purchasing an additional 1,849 shares during the period. Finally, Capital Fund Management S.A. acquired a new stake in Saia in the second quarter valued at about $7,532,000.

Insider Activity

In related news, VP Raymond R. Ramu sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $266.57, for a total value of $266,570.00. Following the completion of the transaction, the vice president owned 4,902 shares of the company’s stock, valued at approximately $1,306,726.14. The trade was a 16.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Donna E. Epps bought 422 shares of Saia stock in a transaction on Wednesday, November 26th. The stock was purchased at an average price of $277.60 per share, for a total transaction of $117,147.20. Following the completion of the acquisition, the director owned 1,852 shares in the company, valued at $514,115.20. This represents a 29.51% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SAIA shares. Stifel Nicolaus dropped their target price on Saia from $306.00 to $298.00 and set a “hold” rating on the stock in a research report on Tuesday, October 28th. Benchmark reaffirmed a “buy” rating and set a $360.00 price objective on shares of Saia in a report on Thursday, September 25th. Citigroup cut their price objective on Saia from $371.00 to $365.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Wells Fargo & Company decreased their target price on shares of Saia from $365.00 to $330.00 and set an “equal weight” rating on the stock in a research report on Monday, October 6th. Finally, Raymond James Financial lowered their price target on shares of Saia from $360.00 to $355.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Saia currently has an average rating of “Moderate Buy” and a consensus price target of $330.10.

Saia Trading Up 4.1%

Shares of SAIA opened at $293.15 on Tuesday. Saia, Inc. has a 1-year low of $229.12 and a 1-year high of $581.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a 50 day simple moving average of $289.07 and a 200-day simple moving average of $289.34. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 12.90 and a beta of 2.07.

Saia (NASDAQ:SAIA) last released its quarterly earnings results on Thursday, October 30th. The transportation company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.28. Saia had a return on equity of 12.42% and a net margin of 8.96%.The company had revenue of $839.64 million during the quarter, compared to the consensus estimate of $824.06 million. During the same quarter last year, the business posted $3.46 earnings per share. Saia’s revenue was down .3% compared to the same quarter last year. Equities analysts forecast that Saia, Inc. will post 15.46 EPS for the current fiscal year.

Saia Profile

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.