Russell Investments Group Ltd. Reduces Stock Position in Saia, Inc. $SAIA

Russell Investments Group Ltd. cut its holdings in Saia, Inc. (NASDAQ:SAIA) by 45.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,239 shares of the transportation company’s stock after selling 29,360 shares during the period. Russell Investments Group Ltd. owned about 0.13% of Saia worth $14,841,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Viking Global Investors LP bought a new position in shares of Saia in the 2nd quarter valued at about $226,770,000. Invesco Ltd. increased its stake in Saia by 1,300.4% during the third quarter. Invesco Ltd. now owns 701,418 shares of the transportation company’s stock worth $209,976,000 after acquiring an additional 651,332 shares during the last quarter. Norges Bank bought a new stake in Saia during the fourth quarter worth approximately $130,411,000. Freestone Grove Partners LP bought a new stake in Saia during the third quarter worth approximately $56,305,000. Finally, First Trust Advisors LP raised its position in Saia by 33.0% during 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.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SAIA shares. Wall Street Zen raised Saia from a “sell” rating to a “hold” rating in a research note on Monday, May 4th. Wells Fargo & Company cut their target price on Saia from $490.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Friday, July 31st. UBS Group decreased their price target on Saia from $527.00 to $504.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Jefferies Financial Group raised their price target on Saia from $500.00 to $550.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, Morgan Stanley dropped their price objective on shares of Saia from $295.00 to $285.00 and set an “underweight” rating for the company in a research note on Friday, July 31st. Thirteen research 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $449.67.

Saia Stock Up 1.1%

Shares of SAIA opened at $384.32 on Friday. The firm has a fifty day moving average price of $416.93 and a 200-day moving average price of $406.56. 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 firm has a market capitalization of $10.25 billion, a P/E ratio of 37.10, a P/E/G ratio of 1.73 and a beta of 2.14. Saia, Inc. has a 12-month low of $249.32 and a 12-month high of $494.71.

Saia (NASDAQ:SAIA) last posted its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, topping 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 company had revenue of $956.49 million for the quarter, compared to the consensus estimate of $956.20 million. During the same quarter last year, the firm posted $2.67 EPS. The firm’s revenue was up 17.1% compared to the same quarter last year. Equities research analysts expect that Saia, Inc. will post 11.44 earnings per share for the current 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.