Palisade Capital Management LP Buys Shares of 23,379 Saia, Inc. $SAIA

Palisade Capital Management LP bought a new position in Saia, Inc. (NASDAQ:SAIA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 23,379 shares of the transportation company’s stock, valued at approximately $9,846,000.

Several other large investors also recently added to or reduced their stakes in SAIA. Vestor Capital LLC raised its holdings in shares of Saia by 9.5% during the 4th quarter. Vestor Capital LLC now owns 323 shares of the transportation company’s stock valued at $96,000 after purchasing an additional 28 shares in the last quarter. Parallel Advisors LLC boosted its holdings in Saia by 5.8% in the fourth quarter. Parallel Advisors LLC now owns 563 shares of the transportation company’s stock worth $184,000 after purchasing an additional 31 shares in the last quarter. Wealth Alliance LLC boosted its holdings in Saia by 5.1% in the first quarter. Wealth Alliance LLC now owns 763 shares of the transportation company’s stock worth $268,000 after purchasing an additional 37 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in Saia by 0.5% in the second quarter. Handelsbanken Fonder AB now owns 8,858 shares of the transportation company’s stock worth $3,731,000 after purchasing an additional 40 shares in the last quarter. Finally, Boothbay Fund Management LLC increased its position in Saia by 3.2% during the second quarter. Boothbay Fund Management LLC now owns 1,401 shares of the transportation company’s stock worth $384,000 after buying an additional 43 shares during the last quarter.

Analyst Ratings Changes

SAIA has been the topic of several recent research reports. Stephens cut their target price on Saia from $520.00 to $490.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Stifel Nicolaus raised Saia from a “hold” rating to a “buy” rating and set a $438.00 price objective on the stock in a report on Friday, July 31st. Evercore raised Saia from an “in-line” rating to an “outperform” rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded Saia from a “sell” rating to a “hold” rating in a report on Monday, May 4th. Finally, TD Cowen decreased their target price on Saia from $445.00 to $400.00 and set a “hold” rating for the company in a research report on Friday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $449.67.

Saia Stock Performance

Shares of SAIA opened at $343.92 on Wednesday. The company has a market capitalization of $9.17 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 1.58 and a beta of 2.14. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 1.58. Saia, Inc. has a one year low of $249.32 and a one year high of $494.71. The company’s fifty day moving average price is $401.00 and its 200 day moving average price is $407.01.

Saia (NASDAQ:SAIA) last released its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.13. The company had revenue of $956.49 million during the quarter, compared to analysts’ expectations 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 in the prior year, the company earned $2.67 earnings per share. As a group, analysts expect that Saia, Inc. will post 11.44 earnings per share for the current year.

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.