151,384 Shares in Saia, Inc. $SAIA Bought by Bank of America Corp DE

Key Points

• Bank of America purchased 151,384 shares of Saia in the second quarter, worth approximately $63.8 million and representing a 0.57% stake.
• Several institutional investors increased or initiated positions in Saia, including BlackRock, First Trust Advisors, Norges Bank, Jupiter Topco and William Blair Investment Management.
• Saia beat quarterly earnings expectations with $3.51 in EPS and $956.49 million in revenue, while analysts maintained a “Moderate Buy” consensus and an average price target of $448.37.

Bank of America Corp DE purchased a new position in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 151,384 shares of the transportation company's stock, valued at approximately $63,757,000. Bank of America Corp DE owned 0.57% of Saia as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of SAIA. BlackRock Inc. grew its position in Saia by 6.6% during the 2nd quarter. BlackRock Inc. now owns 2,545,731 shares of the transportation company's stock worth $1,072,160,000 after purchasing an additional 156,628 shares during the period. First Trust Advisors LP lifted its holdings in Saia by 8.6% in the first quarter. First Trust Advisors LP now owns 804,284 shares of the transportation company's stock valued at $282,529,000 after acquiring an additional 63,486 shares during the period. Norges Bank acquired a new position in Saia in the fourth quarter valued at approximately $130,411,000. Jupiter Topco LLC purchased a new stake in Saia in the 2nd quarter worth approximately $140,979,000. Finally, William Blair Investment Management LLC purchased a new stake in Saia in the 2nd quarter worth approximately $109,089,000.

Saia Stock Performance

Shares of NASDAQ:SAIA opened at $342.22 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 1.58. The business's 50 day moving average price is $373.43 and its 200-day moving average price is $400.96. The firm has a market capitalization of $9.13 billion, a PE ratio of 33.03, a P/E/G ratio of 2.76 and a beta of 2.14. Saia, Inc. has a 1 year low of $249.32 and a 1 year high of $494.71.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The transportation company reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.38 by $0.13. The company had revenue of $956.49 million for the quarter, compared to analyst estimates of $956.20 million. Saia had a return on equity of 10.21% and a net margin of 8.19%.The firm's revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.67 EPS. As a group, equities research analysts expect that Saia, Inc. will post 11.43 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SAIA. BMO Capital Markets increased their price target on shares of Saia from $450.00 to $470.00 and gave the stock a "market perform" rating in a report on Thursday, June 4th. Bank of America reaffirmed a "buy" rating on shares of Saia in a report on Friday, September 4th. Morgan Stanley decreased their price objective on shares of Saia from $295.00 to $285.00 and set an "underweight" rating for the company in a research report on Friday, July 31st. UBS Group lowered their target price on shares of Saia from $527.00 to $504.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Finally, Citigroup dropped their target price on Saia from $423.00 to $417.00 and set a "buy" rating on the stock in a research report on Tuesday, September 8th. Fourteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $448.37.

About Saia

Saia, Inc is a transportation and logistics company headquartered in Johns Creek, Georgia. Its principal operating subsidiary, Saia LTL Freight, provides less-than-truckload transportation, moving shipments from multiple customers in a single trailer. The company serves businesses across the contiguous United States and offers regional, interregional and long-distance freight services.

Saia's services include standard and expedited LTL shipping, guaranteed delivery options, volume and truckload solutions, and specialized transportation for certain freight needs.

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