Van ECK Associates Corp Boosts Stake in Saia, Inc. (NASDAQ:SAIA)

Van ECK Associates Corp raised its holdings in Saia, Inc. (NASDAQ:SAIA – Get Rating) by 9.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 831 shares of the transportation company’s stock after purchasing an additional 75 shares during the quarter. Van ECK Associates Corp’s holdings in Saia were worth $158,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Janiczek Wealth Management LLC grew its stake in shares of Saia by 107.7% in the second quarter. Janiczek Wealth Management LLC now owns 135 shares of the transportation company’s stock valued at $32,000 after buying an additional 70 shares in the last quarter. CWM LLC grew its stake in Saia by 58.3% during the 3rd quarter. CWM LLC now owns 391 shares of the transportation company’s stock worth $74,000 after purchasing an additional 144 shares in the last quarter. Point72 Hong Kong Ltd acquired a new position in Saia during the 1st quarter worth $110,000. Covestor Ltd grew its stake in Saia by 150.0% during the 1st quarter. Covestor Ltd now owns 495 shares of the transportation company’s stock worth $121,000 after purchasing an additional 297 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in Saia by 5,261.1% during the 3rd quarter. Pacer Advisors Inc. now owns 965 shares of the transportation company’s stock worth $183,000 after purchasing an additional 947 shares in the last quarter.

Saia Stock Up 2.0 %

Saia stock opened at $242.94 on Thursday. Saia, Inc. has a fifty-two week low of $168.03 and a fifty-two week high of $304.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.63 and a current ratio of 1.63. The company has a market capitalization of $6.43 billion, a P/E ratio of 17.98, a PEG ratio of 1.18 and a beta of 1.45. The stock has a 50-day simple moving average of $230.17 and a 200-day simple moving average of $216.17.

Saia (NASDAQ:SAIA – Get Rating) last posted its earnings results on Monday, October 31st. The transportation company reported $3.67 earnings per share for the quarter, missing the consensus estimate of $3.68 by ($0.01). Saia had a net margin of 13.09% and a return on equity of 26.58%. The firm had revenue of $729.56 million during the quarter, compared to analysts’ expectations of $718.75 million. Equities research analysts expect that Saia, Inc. will post 13.61 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on SAIA. Citigroup boosted their target price on Saia to $232.00 in a research note on Thursday, October 13th. Morgan Stanley boosted their target price on Saia from $185.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 11th. Bank of America cut Saia from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $216.00 to $215.00 in a research report on Thursday, December 1st. StockNews.com cut Saia from a “hold” rating to a “sell” rating in a research report on Saturday, January 14th. Finally, Susquehanna cut Saia from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $220.00 in a research report on Monday, January 9th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Saia currently has an average rating of “Hold” and an average price target of $244.36.

About Saia

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Saia, Inc, through its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 400 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. As of December 31, 2021, it operated 176 owned and leased facilities; and owned approximately 5,600 tractors and 19,300 trailers.