Hsbc Holdings PLC Takes $3.32 Million Position in Saia, Inc. $SAIA

Hsbc Holdings PLC bought a new position in shares of Saia, Inc. (NASDAQ:SAIA) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,919 shares of the transportation company’s stock, valued at approximately $3,319,000.

A number of other institutional investors have also made changes to their positions in the business. BlackRock Inc. raised its stake in Saia by 6.6% in the 2nd quarter. BlackRock Inc. now owns 2,545,731 shares of the transportation company’s stock valued at $1,072,160,000 after acquiring an additional 156,628 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Saia by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,798,841 shares of the transportation company’s stock worth $587,358,000 after purchasing an additional 43,690 shares during the period. Viking Global Investors LP increased its holdings in shares of Saia by 67.2% in the third quarter. Viking Global Investors LP now owns 1,383,888 shares of the transportation company’s stock valued at $414,281,000 after purchasing an additional 556,229 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Saia by 31.7% in the fourth quarter. Invesco Ltd. now owns 923,912 shares of the transportation company’s stock valued at $301,676,000 after purchasing an additional 222,494 shares during the last quarter. Finally, Wasatch Advisors LP increased its holdings in shares of Saia by 25.3% in the second quarter. Wasatch Advisors LP now owns 825,687 shares of the transportation company’s stock valued at $226,230,000 after purchasing an additional 166,486 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SAIA. Raymond James Financial cut their target price on shares of Saia from $477.00 to $475.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Stifel Nicolaus raised shares of Saia from a “hold” rating to a “buy” rating and set a $438.00 price target on the stock in a report on Friday, July 31st. JPMorgan Chase & Co. raised their price objective on shares of Saia from $490.00 to $498.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Morgan Stanley reduced their price objective on Saia from $295.00 to $285.00 and set an “underweight” rating for the company in a report on Friday, July 31st. Finally, TD Cowen decreased their target price on Saia from $445.00 to $400.00 and set a “hold” rating on the stock in a research report on Friday, July 31st. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Saia presently has a consensus rating of “Moderate Buy” and an average target price of $449.67.

Saia Trading Down 0.2%

Shares of Saia stock opened at $352.25 on Friday. 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 50-day moving average of $396.18 and a 200-day moving average of $405.81. Saia, Inc. has a 52-week low of $249.32 and a 52-week high of $494.71. The stock has a market cap of $9.39 billion, a PE ratio of 34.00, a PEG ratio of 1.59 and a beta of 2.14.

Saia (NASDAQ:SAIA) last released its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, topping 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 business had revenue of $956.49 million for the quarter, compared to analyst estimates of $956.20 million. During the same period last year, the firm earned $2.67 earnings per share. Saia’s revenue for the quarter was up 17.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Saia, Inc. will post 11.44 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.