Bank of New York Mellon Corp Cuts Stake in Saia, Inc. $SAIA

Bank of New York Mellon Corp reduced its position in shares of Saia, Inc. (NASDAQ:SAIA) by 0.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 171,590 shares of the transportation company’s stock after selling 1,565 shares during the quarter. Bank of New York Mellon Corp owned 0.64% of Saia worth $60,276,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quarry LP lifted its position in Saia by 8,400.0% in the 4th quarter. Quarry LP now owns 85 shares of the transportation company’s stock valued at $28,000 after acquiring an additional 84 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Saia in the 4th quarter worth $36,000. Torren Management LLC bought a new stake in shares of Saia in the 4th quarter worth $40,000. Allworth Financial LP lifted its holdings in shares of Saia by 69.0% during the third quarter. Allworth Financial LP now owns 142 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 58 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Saia by 1,612.5% during the fourth quarter. Larson Financial Group LLC now owns 137 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 129 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts recently commented on SAIA shares. TD Cowen lifted their price objective on Saia from $367.00 to $445.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Wells Fargo & Company upped their target price on shares of Saia from $445.00 to $490.00 and gave the company an “equal weight” rating in a research note on Friday, June 5th. Wolfe Research raised shares of Saia from a “peer perform” rating to an “outperform” rating in a report on Tuesday, April 7th. Barclays lifted their price target on shares of Saia from $400.00 to $500.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Benchmark reissued a “buy” rating on shares of Saia in a report on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $462.72.

Saia Price Performance

NASDAQ SAIA opened at $426.55 on Friday. The company has a 50-day moving average price of $445.70 and a 200-day moving average price of $404.89. Saia, Inc. has a 52 week low of $249.32 and a 52 week high of $494.71. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $11.38 billion, a P/E ratio of 44.81, a PEG ratio of 1.99 and a beta of 2.13.

Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Thursday, April 30th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.04. The company had revenue of $806.23 million for the quarter, compared to the consensus estimate of $789.08 million. Saia had a net margin of 7.84% and a return on equity of 9.60%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.86 earnings per share. Equities research analysts anticipate that Saia, Inc. will post 11.46 earnings per share for the current year.

Saia Company 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.