Palisade Capital Management LP Makes New $9.85 Million Investment in Saia, Inc. $SAIA

Palisade Capital Management LP purchased a new stake in Saia, Inc. (NASDAQ:SAIA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,379 shares of the transportation company’s stock, valued at approximately $9,846,000. Palisade Capital Management LP owned approximately 0.09% of Saia as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of SAIA. Danske Bank A S purchased a new position in shares of Saia in the second quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Saia in the 2nd quarter worth approximately $27,000. Meeder Asset Management Inc. boosted its stake in Saia by 360.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company’s stock worth $29,000 after purchasing an additional 54 shares during the period. Quarry LP boosted its stake in Saia by 8,400.0% in the 4th quarter. Quarry LP now owns 85 shares of the transportation company’s stock worth $28,000 after purchasing an additional 84 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in Saia during the 4th quarter worth approximately $36,000.

Saia Trading Down 1.6%

Saia stock opened at $343.92 on Wednesday. The company’s fifty day simple moving average is $401.00 and its 200-day simple moving average is $407.01. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.04. 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 $9.17 billion, a P/E ratio of 33.20, a P/E/G ratio of 1.58 and a beta of 2.14.

Saia (NASDAQ:SAIA) last posted its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.38 by $0.13. The business had revenue of $956.49 million for the quarter, compared to the consensus estimate of $956.20 million. Saia had a net margin of 8.19% and a return on equity of 10.21%. Saia’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.67 earnings per share. As a group, sell-side analysts forecast that Saia, Inc. will post 11.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SAIA has been the subject of several recent analyst reports. UBS Group decreased their target price on Saia from $527.00 to $504.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Raymond James Financial dropped their price target on Saia from $477.00 to $475.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. Morgan Stanley reduced their price objective on Saia from $295.00 to $285.00 and set an “underweight” rating for the company in a research note on Friday, July 31st. Benchmark restated a “buy” rating on shares of Saia in a research report on Wednesday, June 3rd. Finally, Stephens lowered their target price on Saia from $520.00 to $490.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Thirteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Saia currently has an average rating of “Moderate Buy” and a consensus target price of $449.67.

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.