Nicholas Investment Partners LP Makes New Investment in Saia, Inc. $SAIA

Nicholas Investment Partners LP bought a new stake in Saia, Inc. (NASDAQ:SAIA) in the 2nd quarter, HoldingsChannel reports. The firm bought 12,999 shares of the transportation company’s stock, valued at approximately $5,475,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vestor Capital LLC boosted its position in shares of Saia by 9.5% during the 4th quarter. Vestor Capital LLC now owns 323 shares of the transportation company’s stock valued at $96,000 after acquiring an additional 28 shares during the last quarter. Parallel Advisors LLC increased its position in Saia by 5.8% during the fourth quarter. Parallel Advisors LLC now owns 563 shares of the transportation company’s stock worth $184,000 after purchasing an additional 31 shares during the last quarter. Wealth Alliance LLC increased its position in Saia by 5.1% during the first quarter. Wealth Alliance LLC now owns 763 shares of the transportation company’s stock worth $268,000 after purchasing an additional 37 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Saia by 0.5% during the second quarter. Handelsbanken Fonder AB now owns 8,858 shares of the transportation company’s stock worth $3,731,000 after purchasing an additional 40 shares during the period. Finally, Boothbay Fund Management LLC raised its stake in Saia by 3.2% during the second quarter. Boothbay Fund Management LLC now owns 1,401 shares of the transportation company’s stock worth $384,000 after purchasing an additional 43 shares during the period.

Saia Price Performance

Saia stock opened at $349.54 on Tuesday. The company’s 50 day simple moving average is $403.26 and its 200-day simple moving average is $407.45. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 33.74, a price-to-earnings-growth ratio of 1.63 and a beta of 2.14. Saia, Inc. has a 1 year low of $249.32 and a 1 year high of $494.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.58 and a current ratio of 1.58.

Saia (NASDAQ:SAIA) last posted its quarterly earnings data 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. Saia had a net margin of 8.19% and a return on equity of 10.21%. The firm had revenue of $956.49 million during the quarter, compared to analysts’ expectations of $956.20 million. During the same quarter last year, the company posted $2.67 EPS. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. As a group, equities research analysts expect that Saia, Inc. will post 11.44 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SAIA shares. Barclays dropped their price target on shares of Saia from $500.00 to $475.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Benchmark reiterated a “buy” rating on shares of Saia in a report on Wednesday, June 3rd. UBS Group lowered their price objective on Saia from $527.00 to $504.00 and set a “buy” rating for the company in a research report on Friday, July 31st. TD Cowen cut their target price on Saia from $445.00 to $400.00 and set a “hold” rating for the company in a research note on Friday, July 31st. Finally, JPMorgan Chase & Co. lifted their target price on Saia from $490.00 to $498.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Saia presently 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.