Amundi Sells 37,753 Shares of Saia, Inc. $SAIA

Key Points

• Amundi cut its Saia stake by 93.6% in the second quarter, selling 37,753 shares and retaining 2,561 shares valued at approximately $1.08 million.
• Saia exceeded quarterly earnings expectations, reporting $3.51 in EPS versus the $3.38 consensus, while revenue rose 17.1% year over year to $956.49 million.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $448.37, despite the stock trading near $351.03.

Amundi lowered its position in Saia, Inc. (NASDAQ:SAIA - Free Report) by 93.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,561 shares of the transportation company's stock after selling 37,753 shares during the quarter. Amundi's holdings in Saia were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Danske Bank A S bought a new position in shares of Saia during the second quarter valued at $25,000. Caitong International Asset Management Co. Ltd acquired a new position in Saia during the 2nd quarter worth about $27,000. Meeder Asset Management Inc. grew its position in shares of Saia by 360.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company's stock valued at $29,000 after buying an additional 54 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Saia by 1,612.5% in the fourth quarter. Larson Financial Group LLC now owns 137 shares of the transportation company's stock valued at $45,000 after buying an additional 129 shares during the period. Finally, Quantbot Technologies LP bought a new position in shares of Saia during the second quarter worth about $64,000.

Saia Price Performance

SAIA stock opened at $351.03 on Tuesday. The stock has a market capitalization of $9.36 billion, a PE ratio of 33.88, a price-to-earnings-growth ratio of 2.83 and a beta of 2.14. The company's 50-day moving average is $379.26 and its 200-day moving average is $402.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 1.58. 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 posted its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.38 by $0.13. The business 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 firm's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.67 EPS. Equities research analysts expect that Saia, Inc. will post 11.43 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SAIA has been the subject of several analyst reports. Barclays lowered their price target on shares of Saia from $500.00 to $475.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Saia in a research report on Monday, August 3rd. Sanford C. Bernstein initiated coverage on Saia in a report on Thursday, September 10th. They set an "outperform" rating and a $439.00 price target for the company. Evercore raised Saia from an "in-line" rating to an "outperform" rating in a research report on Wednesday, July 1st. Finally, Stifel Nicolaus raised Saia from a "hold" rating to a "buy" rating and set a $438.00 price objective on the stock in a research note on Friday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Saia currently has a consensus rating of "Moderate Buy" and an average price target of $448.37.

Saia Company Profile

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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