Hodges Capital Management Inc. purchased a new stake in Saia, Inc. (NASDAQ:SAIA – Free Report) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 8,900 shares of the transportation company’s stock, valued at approximately $3,748,000.
Other hedge funds have also bought and sold shares of the company. Viking Global Investors LP acquired a new stake in Saia in the 2nd quarter worth about $226,770,000. Invesco Ltd. grew its position in shares of Saia by 1,300.4% during the 3rd quarter. Invesco Ltd. now owns 701,418 shares of the transportation company’s stock worth $209,976,000 after purchasing an additional 651,332 shares in the last quarter. Norges Bank acquired a new position in shares of Saia during the 4th quarter worth approximately $130,411,000. Freestone Grove Partners LP acquired a new position in shares of Saia during the 3rd quarter worth approximately $56,305,000. Finally, First Trust Advisors LP increased its holdings in shares of Saia by 33.0% during the fourth quarter. First Trust Advisors LP now owns 740,798 shares of the transportation company’s stock worth $241,885,000 after purchasing an additional 183,669 shares during the period.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on SAIA. The Goldman Sachs Group reiterated a “buy” rating and issued a $476.00 price target on shares of Saia in a research report on Thursday, July 30th. Raymond James Financial reduced their price target on Saia from $477.00 to $475.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Jefferies Financial Group raised their price objective on Saia from $500.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. UBS Group dropped their price objective on Saia from $527.00 to $504.00 and set a “buy” rating for the company in a report on Friday, July 31st. Finally, 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 report on Friday, July 31st. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $449.67.
Saia Price Performance
Shares of NASDAQ:SAIA opened at $384.32 on Friday. The firm has a 50 day moving average of $416.93 and a 200-day moving average of $406.56. The stock has a market capitalization of $10.25 billion, a PE ratio of 37.10, a PEG ratio of 1.71 and a beta of 2.14. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.04. Saia, Inc. has a 12 month low of $249.32 and a 12 month high of $494.71.
Saia (NASDAQ:SAIA – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.38 by $0.13. The company had revenue of $956.49 million during the quarter, compared to the consensus estimate of $956.20 million. Saia had a net margin of 8.19% and a return on equity of 10.21%. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.67 EPS. On average, equities research analysts predict that Saia, Inc. will post 11.46 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.
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