Bank of America Corp DE Purchases 31,323 Shares of Saia, Inc. $SAIA

Key Points

• Bank of America increased its Saia stake by 35.6% in the first quarter, buying 31,323 additional shares to own 119,297 shares valued at approximately $41.9 million.
• Saia reported quarterly EPS of $3.51, beating estimates of $3.38, while revenue rose 17.1% year over year to $956.49 million. The stock was recently trading at $380.22, up 4.3%.
• Analyst sentiment remains favorable, with 13 Buy, seven Hold, and one Sell rating; the stock has a consensus “Moderate Buy” rating and an average price target of $449.67.

Bank of America Corp DE grew its holdings in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 35.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 119,297 shares of the transportation company's stock after purchasing an additional 31,323 shares during the quarter. Bank of America Corp DE owned approximately 0.45% of Saia worth $41,907,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in shares of Saia by 2.5% during 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 buying an additional 43,690 shares in the last quarter. Viking Global Investors LP increased its holdings in Saia by 67.2% in the 3rd quarter. Viking Global Investors LP now owns 1,383,888 shares of the transportation company's stock worth $414,281,000 after acquiring an additional 556,229 shares in the last quarter. Invesco Ltd. raised its stake in Saia by 31.7% during the 4th quarter. Invesco Ltd. now owns 923,912 shares of the transportation company's stock worth $301,676,000 after acquiring an additional 222,494 shares during the period. Wasatch Advisors LP raised its stake in Saia by 25.3% during the 2nd quarter. Wasatch Advisors LP now owns 825,687 shares of the transportation company's stock worth $226,230,000 after acquiring an additional 166,486 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Saia by 8.6% during the first quarter. First Trust Advisors LP now owns 804,284 shares of the transportation company's stock valued at $282,529,000 after purchasing an additional 63,486 shares in the last quarter.

Saia Stock Up 4.3%

NASDAQ SAIA opened at $380.22 on Friday. 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 52 week low of $249.32 and a 52 week high of $494.71. The firm has a market capitalization of $10.14 billion, a price-to-earnings ratio of 36.70, a PEG ratio of 1.64 and a beta of 2.14. The company has a fifty day moving average of $418.57 and a two-hundred day moving average of $406.71.

Saia (NASDAQ:SAIA - Get Free Report) last announced its earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.13. The business had revenue of $956.49 million during the quarter, compared to analyst estimates of $956.20 million. Saia had a return on equity of 10.21% and a net margin of 8.19%.The company's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.67 earnings per share. On average, analysts predict that Saia, Inc. will post 11.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Evercore raised Saia from an "in-line" rating to an "outperform" rating in a research note on Wednesday, July 1st. Jefferies Financial Group boosted their price target on Saia from $500.00 to $550.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. The Goldman Sachs Group restated a "buy" rating and issued a $476.00 price target on shares of Saia in a research note on Thursday, July 30th. Stifel Nicolaus raised shares of Saia from a "hold" rating to a "buy" rating and set a $438.00 price objective for the company in a report on Friday, July 31st. Finally, Morgan Stanley reduced their price objective on shares of Saia from $295.00 to $285.00 and set an "underweight" rating on the stock in a research report on Friday, July 31st. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $449.67.

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.

Want to see what other hedge funds are holding SAIA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Saia, Inc. (NASDAQ:SAIA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source