54,420 Shares in Saia, Inc. $SAIA Acquired by Primecap Management Co. CA

Key Points

• Primecap Management acquired 54,420 Saia shares worth approximately $22.9 million in the second quarter, giving it a 0.20% stake in the transportation company.
• Several major institutional investors increased their positions, including BlackRock, Viking Global Investors, Invesco and Wasatch Advisors.
• Saia exceeded 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 $449.67.

Primecap Management Co. CA acquired a new stake in Saia, Inc. (NASDAQ:SAIA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 54,420 shares of the transportation company's stock, valued at approximately $22,920,000. Primecap Management Co. CA owned about 0.20% of Saia at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in shares of Saia by 6.6% during the second quarter. BlackRock Inc. now owns 2,545,731 shares of the transportation company's stock worth $1,072,160,000 after buying an additional 156,628 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Saia by 2.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,798,841 shares of the transportation company's stock valued at $587,358,000 after acquiring an additional 43,690 shares during the last quarter. Viking Global Investors LP boosted its holdings in shares of Saia by 67.2% during the 3rd quarter. Viking Global Investors LP now owns 1,383,888 shares of the transportation company's stock valued at $414,281,000 after acquiring an additional 556,229 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Saia by 31.7% during the 4th quarter. Invesco Ltd. now owns 923,912 shares of the transportation company's stock valued at $301,676,000 after acquiring an additional 222,494 shares in the last quarter. Finally, Wasatch Advisors LP boosted its holdings in shares of Saia by 25.3% during the 2nd quarter. Wasatch Advisors LP now owns 825,687 shares of the transportation company's stock valued at $226,230,000 after acquiring an additional 166,486 shares in the last quarter.

Saia Stock Performance

NASDAQ SAIA opened at $349.83 on Thursday. The company has a market capitalization of $9.33 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 1.55 and a beta of 2.14. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.04. Saia, Inc. has a twelve month low of $249.32 and a twelve month high of $494.71. The stock has a fifty day simple moving average of $399.48 and a 200 day simple moving average of $406.62.

Saia (NASDAQ:SAIA - Get Free Report) last announced its earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, topping the consensus estimate of $3.38 by $0.13. The firm had revenue of $956.49 million for the quarter, compared to the consensus estimate of $956.20 million. Saia had a return on equity of 10.21% and a net margin of 8.19%.The business's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.67 EPS. Sell-side analysts expect that Saia, Inc. will post 11.44 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Bank of America raised Saia from a "neutral" rating to a "buy" rating and upped their target price for the stock from $499.00 to $502.00 in a report on Monday, July 13th. TD Cowen cut their price target on Saia from $445.00 to $400.00 and set a "hold" rating on the stock in a research note on Friday, July 31st. Stephens reduced their price target on Saia from $520.00 to $490.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $476.00 price objective on shares of Saia in a research note on Thursday, July 30th. Finally, UBS Group dropped their price objective on shares of Saia from $527.00 to $504.00 and set a "buy" rating for the company in a report on Friday, July 31st. Thirteen investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.

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