CIBC Bancorp USA Inc. Buys New Position in Saia, Inc. $SAIA

CIBC Bancorp USA Inc. bought a new position in shares of Saia, Inc. (NASDAQ:SAIA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 63,322 shares of the transportation company’s stock, valued at approximately $18,956,000. CIBC Bancorp USA Inc. owned 0.24% of Saia at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Viking Global Investors LP bought a new position in shares of Saia during the 2nd quarter worth approximately $226,770,000. Invesco Ltd. increased its stake in shares of Saia by 1,300.4% in the 3rd quarter. Invesco Ltd. now owns 701,418 shares of the transportation company’s stock valued at $209,976,000 after acquiring an additional 651,332 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Saia by 35.4% in the 3rd quarter. Alliancebernstein L.P. now owns 2,273,396 shares of the transportation company’s stock valued at $680,564,000 after acquiring an additional 594,674 shares in the last quarter. Norges Bank acquired a new position in shares of Saia during the 2nd quarter valued at $103,599,000. Finally, First Trust Advisors LP lifted its position in shares of Saia by 141.3% during the 3rd quarter. First Trust Advisors LP now owns 557,129 shares of the transportation company’s stock valued at $166,782,000 after acquiring an additional 326,206 shares during the period.

Analysts Set New Price Targets

SAIA has been the subject of a number of research reports. Wells Fargo & Company raised their price target on shares of Saia from $310.00 to $395.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 11th. Benchmark upped their price objective on shares of Saia from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Rothschild & Co Redburn set a $262.00 price objective on shares of Saia in a research report on Wednesday, November 26th. Wolfe Research restated a “peer perform” rating on shares of Saia in a research note on Thursday, January 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $403.00 target price on shares of Saia in a research report on Tuesday, February 10th. Nine equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $379.47.

Saia Stock Performance

Shares of SAIA stock opened at $321.17 on Friday. The firm has a market capitalization of $8.57 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 1.74 and a beta of 2.04. The firm has a fifty day simple moving average of $370.23 and a two-hundred day simple moving average of $328.43. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.06. Saia, Inc. has a 12 month low of $229.12 and a 12 month high of $430.11.

Saia (NASDAQ:SAIA) last released its quarterly earnings data on Tuesday, February 10th. The transportation company reported $1.77 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.13). The business had revenue of $789.95 million during the quarter, compared to the consensus estimate of $773.82 million. Saia had a net margin of 7.89% and a return on equity of 9.86%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period last year, the business posted $2.84 earnings per share. Analysts forecast that Saia, Inc. will post 15.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Saia news, CEO Frederick J. Holzgrefe III sold 4,775 shares of Saia stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $388.80, for a total transaction of $1,856,520.00. Following the completion of the transaction, the chief executive officer owned 22,743 shares in the company, valued at approximately $8,842,478.40. The trade was a 17.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Raymond R. Ramu sold 5,226 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $387.95, for a total value of $2,027,426.70. Following the sale, the vice president directly owned 3,631 shares of the company’s stock, valued at $1,408,646.45. This represents a 59.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,533 shares of company stock worth $6,015,055 over the last ninety days. Insiders own 0.30% of the company’s stock.

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.