Azimuth Capital Investment Management LLC Purchases New Shares in Saia, Inc. $SAIA

Key Points

• Azimuth Capital Investment Management purchased 23,244 Saia shares worth approximately $9.8 million, representing about 0.09% of the company. Several other institutional investors also initiated positions during the second quarter, including Moore Capital Management with a stake valued at $13.2 million.
• Analysts maintain a generally positive view of Saia, with a consensus rating of “Moderate Buy” and an average price target of $449.22. Recent targets ranged from $285 to $504, reflecting varied outlooks.
• Saia reported quarterly earnings of $3.51 per share, exceeding estimates of $3.38, while revenue rose 17.1% year over year to $956.49 million. Shares recently opened at $357.94, below their 50-day and 200-day moving averages.

Azimuth Capital Investment Management LLC purchased a new position in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 23,244 shares of the transportation company's stock, valued at approximately $9,789,000. Azimuth Capital Investment Management LLC owned approximately 0.09% of Saia as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. AlphaGrep UK Ltd bought a new position in Saia in the 2nd quarter worth approximately $281,000. Concurrent Investment Advisors LLC acquired a new stake in shares of Saia in the 2nd quarter valued at $422,000. Round Rock Advisors LLC bought a new stake in shares of Saia during the second quarter worth $236,000. Nykredit A S bought a new stake in shares of Saia during the second quarter worth $402,000. Finally, Moore Capital Management LP acquired a new position in shares of Saia during the second quarter valued at $13,208,000.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SAIA shares. Stephens decreased 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. Weiss Ratings restated a "hold (c)" rating on shares of Saia in a research report on Monday, August 3rd. Susquehanna raised their target price on shares of Saia from $465.00 to $470.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. UBS Group lowered their price target on shares of Saia from $527.00 to $504.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Finally, Morgan Stanley dropped their price target on shares of Saia from $295.00 to $285.00 and set an "underweight" rating for the company in a research note on Friday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Saia has a consensus rating of "Moderate Buy" and an average price target of $449.22.

Saia Price Performance

Shares of SAIA stock opened at $357.94 on Friday. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 34.55, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. Saia, Inc. has a 12-month low of $249.32 and a 12-month high of $494.71. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average of $387.44 and a 200-day moving average of $404.26.

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. Saia had a net margin of 8.19% and a return on equity of 10.21%. The firm had revenue of $956.49 million for the quarter, compared to the consensus estimate of $956.20 million. During the same period last year, the company posted $2.67 EPS. The business's quarterly revenue was up 17.1% on a year-over-year basis. On average, equities research analysts forecast that Saia, Inc. will post 11.45 earnings per share for the current year.

Saia Company 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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