BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 21,300 Shares of Saia, Inc. $SAIA

Key Points

• British Columbia Investment Management Corp increased its stake in Saia, Inc. by 23.5%, acquiring an additional 21,300 shares, bringing its total ownership to approximately $39.08 million.
• Saia's most recent quarterly earnings showed earnings per share of $2.67, exceeding expectations, despite revenue falling 0.7% year-over-year.
• Analyst price targets for Saia have been raised, with the average target now at $347.16, reflecting a general positive outlook from several research firms.

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Saia, Inc. (NASDAQ:SAIA - Free Report) by 23.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,852 shares of the transportation company's stock after purchasing an additional 21,300 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.42% of Saia worth $39,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in SAIA. Mariner LLC raised its holdings in shares of Saia by 11.0% in the 4th quarter. Mariner LLC now owns 1,822 shares of the transportation company's stock valued at $831,000 after acquiring an additional 180 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Saia in the 4th quarter worth $182,000. First Trust Advisors LP increased its holdings in shares of Saia by 76.2% in the 4th quarter. First Trust Advisors LP now owns 24,739 shares of the transportation company's stock worth $11,274,000 after buying an additional 10,695 shares during the last quarter. MML Investors Services LLC raised its position in shares of Saia by 37.5% during the 4th quarter. MML Investors Services LLC now owns 5,932 shares of the transportation company's stock valued at $2,703,000 after buying an additional 1,619 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its position in Saia by 42.7% in the fourth quarter. Pinebridge Investments L.P. now owns 7,454 shares of the transportation company's stock worth $3,397,000 after acquiring an additional 2,231 shares in the last quarter.

Saia Stock Performance

Shares of Saia stock traded down $4.99 on Wednesday, hitting $302.79. 382,242 shares of the company's stock were exchanged, compared to its average volume of 648,910. Saia, Inc. has a 1 year low of $229.12 and a 1 year high of $624.55. The company has a 50-day simple moving average of $294.02 and a 200-day simple moving average of $319.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a market capitalization of $8.07 billion, a PE ratio of 27.96, a PEG ratio of 14.23 and a beta of 1.99.

Saia (NASDAQ:SAIA - Get Free Report) last released its earnings results 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. Saia had a net margin of 8.96% and a return on equity of 12.42%. The company had revenue of $817.12 million during the quarter, compared to analyst estimates of $826.59 million. During the same period in the prior year, the firm posted $3.83 EPS. The firm's quarterly revenue was down .7% compared to the same quarter last year. As a group, equities analysts anticipate that Saia, Inc. will post 15.46 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Saia from $290.00 to $365.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. The Goldman Sachs Group raised Saia from a "neutral" rating to a "buy" rating and boosted their target price for the company from $387.00 to $410.00 in a research note on Monday, June 2nd. JPMorgan Chase & Co. lifted their price target on shares of Saia from $295.00 to $380.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Jefferies Financial Group set a $335.00 price objective on shares of Saia and gave the stock a "buy" rating in a report on Tuesday, June 10th. Finally, Stifel Nicolaus reaffirmed a "hold" rating and set a $306.00 target price (up previously from $277.00) on shares of Saia in a research note on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, Saia currently has a consensus 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.