Allspring Global Investments Holdings LLC Decreases Stake in Saia, Inc. $SAIA

Key Points

• Allspring Global Investments cut its stake in Saia by 19.2% in the first quarter, selling 28,252 shares and leaving it with 118,743 shares worth about $42.1 million.
• Several other institutions also adjusted holdings, with firms such as M&T Bank sharply increasing positions and others initiating new stakes in the transportation company.
• Analysts remain mostly constructive on Saia: the stock carries a Moderate Buy consensus rating with an average price target of $462.72, while the company recently beat quarterly earnings expectations.

Allspring Global Investments Holdings LLC decreased its holdings in Saia, Inc. (NASDAQ:SAIA - Free Report) by 19.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 118,743 shares of the transportation company's stock after selling 28,252 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.45% of Saia worth $42,140,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Lincoln Capital Corp acquired a new position in Saia during the fourth quarter worth $1,371,000. M&T Bank Corp grew its holdings in Saia by 383.7% in the fourth quarter. M&T Bank Corp now owns 26,524 shares of the transportation company's stock valued at $8,661,000 after purchasing an additional 21,041 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Saia in the fourth quarter valued at $1,692,000. Montag A & Associates Inc. purchased a new position in shares of Saia in the first quarter valued at $1,505,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Saia by 63.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,576 shares of the transportation company's stock worth $2,800,000 after buying an additional 3,329 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently commented on SAIA. Wells Fargo & Company increased their price objective 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. The Goldman Sachs Group lifted their target price on shares of Saia from $441.00 to $494.00 and gave the stock a "buy" rating in a research report on Tuesday, June 23rd. Weiss Ratings raised shares of Saia from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Stifel Nicolaus set a $450.00 price target on shares of Saia in a research report on Friday, May 1st. Finally, Morgan Stanley increased their price target on shares of Saia from $265.00 to $295.00 and gave the company an "underweight" rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Saia has a consensus rating of "Moderate Buy" and a consensus target price of $462.72.

Saia Trading Down 0.3%

Saia stock opened at $436.85 on Friday. The stock has a 50-day moving average price of $446.86 and a 200 day moving average price of $401.64. Saia, Inc. has a 52 week low of $249.32 and a 52 week high of $494.71. The stock has a market cap of $11.65 billion, a PE ratio of 45.89, a P/E/G ratio of 2.05 and a beta of 2.13. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04.

Saia (NASDAQ:SAIA - Get Free Report) last released its earnings results on Thursday, April 30th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.04. Saia had a net margin of 7.84% and a return on equity of 9.60%. The company had revenue of $806.23 million for the quarter, compared to analyst estimates of $789.08 million. During the same period in the prior year, the firm earned $1.86 EPS. The firm's quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts predict that Saia, Inc. will post 11.42 earnings per share for the current fiscal year.

About Saia

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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