Wasatch Advisors LP Cuts Holdings in Saia, Inc. $SAIA

Wasatch Advisors LP reduced its holdings in Saia, Inc. (NASDAQ:SAIA) by 51.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 342,773 shares of the transportation company’s stock after selling 366,107 shares during the quarter. Wasatch Advisors LP owned about 1.29% of Saia worth $144,362,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Viking Global Investors LP purchased a new position in Saia in the second quarter worth $226,770,000. Invesco Ltd. boosted 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 $130,411,000. Freestone Grove Partners LP purchased a new position in shares of Saia in the 3rd quarter valued at about $56,305,000. Finally, First Trust Advisors LP lifted its stake in shares of Saia by 33.0% in the fourth quarter. First Trust Advisors LP now owns 740,798 shares of the transportation company’s stock valued at $241,885,000 after purchasing an additional 183,669 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SAIA shares. Barclays lowered their target price on shares of Saia from $500.00 to $475.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Morgan Stanley decreased their price target on Saia from $295.00 to $285.00 and set an “underweight” rating on the stock in a research note on Friday, July 31st. Susquehanna upped their price target on Saia from $465.00 to $470.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Benchmark reaffirmed a “buy” rating on shares of Saia in a research note on Wednesday, June 3rd. Finally, Raymond James Financial decreased their target price on Saia from $477.00 to $475.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $449.67.

Saia Stock Performance

Shares of SAIA opened at $356.96 on Wednesday. Saia, Inc. has a 12-month low of $249.32 and a 12-month high of $494.71. The stock has a market cap of $9.52 billion, a P/E ratio of 34.46, a PEG ratio of 1.60 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. The company has a 50-day moving average of $422.39 and a two-hundred day moving average of $406.48.

Saia (NASDAQ:SAIA) last released its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, beating the consensus estimate 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 in the prior year, the business earned $2.67 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, 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.