Algert Global LLC Takes $4.44 Million Position in Saia, Inc. $SAIA

Key Points

• Algert Global LLC has made a significant investment in Saia, Inc., acquiring 12,710 shares worth approximately $4.44 million in the first quarter of 2023.
• Several hedge funds, including Golden State Wealth Management and Canada Pension Plan Investment Board, have also increased their stakes in Saia during the same period, indicating growing institutional interest.
• Brokerages have raised their target prices for Saia, with Barclays targeting $350, while the stock currently has a consensus average rating of "Hold" and a target price of $347.16.

Algert Global LLC acquired a new position in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 12,710 shares of the transportation company's stock, valued at approximately $4,441,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Voya Investment Management LLC grew its stake in Saia by 15.2% during the 4th quarter. Voya Investment Management LLC now owns 374,402 shares of the transportation company's stock worth $170,598,000 after buying an additional 49,442 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in Saia by 9.9% during the 1st quarter. Westfield Capital Management Co. LP now owns 373,503 shares of the transportation company's stock worth $130,513,000 after buying an additional 33,719 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Saia by 24,815.0% in the fourth quarter. Balyasny Asset Management L.P. now owns 372,728 shares of the transportation company's stock worth $169,863,000 after purchasing an additional 371,232 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of Saia by 76.2% in the fourth quarter. Ameriprise Financial Inc. now owns 355,929 shares of the transportation company's stock worth $162,213,000 after purchasing an additional 153,896 shares in the last quarter. Finally, Select Equity Group L.P. bought a new position in shares of Saia in the fourth quarter worth $137,199,000.

Saia Stock Up 9.0%

Saia stock traded up $26.32 during mid-day trading on Friday, hitting $320.27. The company's stock had a trading volume of 778,796 shares, compared to its average volume of 650,246. The firm's 50 day moving average is $291.06 and its 200 day moving average is $324.83. The company has a market cap of $8.53 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 13.53 and a beta of 1.99. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.49 and a quick ratio of 1.49. Saia, Inc. has a 52-week low of $229.12 and a 52-week high of $624.55.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The transportation company reported $2.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.39 by $0.28. The firm had revenue of $817.12 million during the quarter, compared to the consensus estimate of $826.59 million. Saia had a return on equity of 12.42% and a net margin of 8.96%.The business's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the business earned $3.83 EPS. On average, analysts anticipate that Saia, Inc. will post 15.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Benchmark upped their price objective on Saia from $325.00 to $360.00 and gave the company a "buy" rating in a report on Monday, July 28th. Barclays upped their price objective on Saia from $315.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Raymond James Financial set a $310.00 price objective on Saia and gave the company an "outperform" rating in a report on Monday, April 28th. Wolfe Research upgraded Saia from a "hold" rating to a "strong-buy" rating in a report on Sunday, June 8th. Finally, Evercore ISI upped their price objective on Saia from $297.00 to $345.00 and gave the company an "outperform" rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $347.16.

About Saia

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.