ExodusPoint Capital Management LP Raises Stock Position in Saia, Inc. $SAIA

ExodusPoint Capital Management LP grew its holdings in Saia, Inc. (NASDAQ:SAIA) by 163.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 56,833 shares of the transportation company’s stock after purchasing an additional 35,285 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Saia were worth $18,557,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SAIA. Viking Global Investors LP purchased a new position in shares of Saia in the 2nd quarter valued at $226,770,000. Invesco Ltd. raised its stake in shares of Saia by 1,300.4% in the 3rd quarter. Invesco Ltd. now owns 701,418 shares of the transportation company’s stock valued at $209,976,000 after acquiring an additional 651,332 shares during the period. Alliancebernstein L.P. raised its stake in shares of Saia by 35.4% in the 3rd quarter. Alliancebernstein L.P. now owns 2,273,396 shares of the transportation company’s stock valued at $680,564,000 after acquiring an additional 594,674 shares during the period. Norges Bank purchased a new position in shares of Saia in the 4th quarter valued at $130,411,000. Finally, First Trust Advisors LP increased its stake in Saia by 141.3% during the 3rd quarter. First Trust Advisors LP now owns 557,129 shares of the transportation company’s stock worth $166,782,000 after buying an additional 326,206 shares during the period.

Saia Price Performance

Shares of SAIA stock opened at $457.02 on Wednesday. The firm has a market cap of $12.19 billion, a P/E ratio of 48.01, a P/E/G ratio of 2.26 and a beta of 2.10. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 1.52. Saia, Inc. has a 1-year low of $249.32 and a 1-year high of $494.71. The firm has a fifty day moving average of $445.60 and a two-hundred day moving average of $385.86.

Saia (NASDAQ:SAIA) last announced its quarterly earnings data on Thursday, April 30th. The transportation company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.04. Saia had a net margin of 7.84% and a return on equity of 9.60%. The company had revenue of $806.23 million during the quarter, compared to analyst estimates of $789.08 million. During the same period last year, the business earned $1.86 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, research analysts anticipate that Saia, Inc. will post 11.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SAIA shares. Wall Street Zen raised shares of Saia from a “sell” rating to a “hold” rating in a research note on Monday, May 4th. Benchmark reaffirmed a “buy” rating on shares of Saia in a research note on Wednesday, June 3rd. Susquehanna lifted their price target on shares of Saia from $425.00 to $465.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 2nd. Jefferies Financial Group lifted their price target on shares of Saia from $500.00 to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $265.00 price target on shares of Saia in a research note on Friday, May 1st. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Saia currently has an average rating of “Hold” and an average target price of $454.00.

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.