Canada Pension Plan Investment Board Makes New Investment in Saia, Inc. $SAIA

Canada Pension Plan Investment Board purchased a new stake in shares of Saia, Inc. (NASDAQ:SAIA) during the second quarter, HoldingsChannel reports. The fund purchased 25,720 shares of the transportation company’s stock, valued at approximately $10,832,000.

Other large investors have also made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Saia by 6.6% in the second quarter. BlackRock Inc. now owns 2,545,731 shares of the transportation company’s stock worth $1,072,160,000 after acquiring an additional 156,628 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Saia by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,798,841 shares of the transportation company’s stock worth $587,358,000 after purchasing an additional 43,690 shares in the last quarter. Viking Global Investors LP boosted its stake in Saia by 67.2% in the 3rd quarter. Viking Global Investors LP now owns 1,383,888 shares of the transportation company’s stock worth $414,281,000 after purchasing an additional 556,229 shares during the period. Invesco Ltd. boosted its stake in Saia by 31.7% in the 4th quarter. Invesco Ltd. now owns 923,912 shares of the transportation company’s stock worth $301,676,000 after purchasing an additional 222,494 shares during the period. Finally, Wasatch Advisors LP boosted its stake in Saia by 25.3% in the 2nd quarter. Wasatch Advisors LP now owns 825,687 shares of the transportation company’s stock worth $226,230,000 after purchasing an additional 166,486 shares during the period.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. BMO Capital Markets lifted their price target on shares of Saia from $450.00 to $470.00 and gave the company a “market perform” rating in a report on Thursday, June 4th. 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 report on Friday, July 31st. Wells Fargo & Company reduced their target price on Saia from $490.00 to $400.00 and set an “equal weight” rating on the stock in a report on Friday, July 31st. Citigroup reduced their target price on Saia from $488.00 to $423.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Finally, Stephens cut their price target on Saia from $520.00 to $490.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $449.67.

Saia Stock Down 0.2%

Shares of NASDAQ SAIA opened at $352.25 on Friday. The company has a current ratio of 1.58, a quick 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 firm’s 50-day moving average price is $396.18 and its 200-day moving average price is $405.81. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 34.00, a P/E/G ratio of 1.59 and a beta of 2.14.

Saia (NASDAQ:SAIA) last released 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 return on equity of 10.21% and a net margin of 8.19%.The company had revenue of $956.49 million during the quarter, compared to analyst estimates of $956.20 million. During the same quarter last year, the business posted $2.67 earnings per share. The firm’s revenue was up 17.1% on a year-over-year basis. On average, equities research analysts anticipate that Saia, Inc. will post 11.44 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.