Norges Bank Takes Position in Saia, Inc. $SAIA

Norges Bank bought a new position in Saia, Inc. (NASDAQ:SAIA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 399,397 shares of the transportation company’s stock, valued at approximately $130,411,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilson Asset Management International PTY Ltd. bought a new stake in Saia in the 3rd quarter valued at $1,538,000. Lincoln Capital Corp bought a new position in shares of Saia during the 4th quarter valued at about $1,371,000. M&T Bank Corp grew its position in shares of Saia by 383.7% during the fourth quarter. M&T Bank Corp now owns 26,524 shares of the transportation company’s stock valued at $8,661,000 after purchasing an additional 21,041 shares in the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Saia during the fourth quarter valued at about $1,692,000. Finally, Bessemer Group Inc. increased its holdings in shares of Saia by 21.9% in the third quarter. Bessemer Group Inc. now owns 505,522 shares of the transportation company’s stock worth $151,334,000 after purchasing an additional 90,926 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms recently commented on SAIA. Wells Fargo & Company boosted their target price on Saia from $395.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Stifel Nicolaus set a $450.00 price objective on Saia in a research note on Friday, May 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $477.00 price objective on shares of Saia in a report on Friday, May 1st. Morgan Stanley reiterated an “underweight” rating and set a $265.00 target price on shares of Saia in a research report on Friday, May 1st. Finally, Bank of America raised their target price on shares of Saia from $413.00 to $429.00 and gave the company a “neutral” rating in a report on Tuesday, March 3rd. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Saia presently has an average rating of “Hold” and a consensus price target of $449.67.

Saia Trading Up 1.5%

Shares of SAIA opened at $471.43 on Friday. The company’s fifty day simple moving average is $425.10 and its 200-day simple moving average is $374.16. The company has a market cap of $12.57 billion, a P/E ratio of 49.52, a P/E/G ratio of 2.22 and a beta of 2.10. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04. Saia, Inc. has a twelve month low of $248.37 and a twelve month high of $485.00.

Saia (NASDAQ:SAIA) last released its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.04. The firm had revenue of $806.23 million during the quarter, compared to analysts’ expectations of $789.08 million. Saia had a net margin of 7.84% and a return on equity of 9.60%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.86 EPS. As a group, analysts expect that Saia, Inc. will post 11.39 EPS 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.