Calamos Advisors LLC Takes Position in Saia, Inc. $SAIA

Key Points

• Calamos Advisors LLC initiated a new position in Saia during the first quarter, buying 5,935 shares valued at about $2.1 million.
• Several other hedge funds also increased their SAIA holdings, suggesting continued institutional interest in the transportation company.
• Analysts remain largely positive on Saia overall, with a Moderate Buy consensus and an average price target of $462.72, even after some recent target cuts and upgrades.

Calamos Advisors LLC acquired a new position in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,935 shares of the transportation company's stock, valued at approximately $2,085,000.

A number of other hedge funds have also recently made changes to their positions in SAIA. State of Michigan Retirement System lifted its stake in Saia by 1.6% during the first quarter. State of Michigan Retirement System now owns 6,386 shares of the transportation company's stock worth $2,243,000 after purchasing an additional 100 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Saia by 3.8% in the first quarter. Principal Financial Group Inc. now owns 59,496 shares of the transportation company's stock valued at $20,900,000 after buying an additional 2,171 shares in the last quarter. Diversify Wealth Management LLC raised its holdings in shares of Saia by 26.3% in the 1st quarter. Diversify Wealth Management LLC now owns 3,243 shares of the transportation company's stock valued at $1,139,000 after buying an additional 675 shares during the period. Fifth Third Bancorp raised its holdings in shares of Saia by 1,390.7% in the 1st quarter. Fifth Third Bancorp now owns 19,499 shares of the transportation company's stock valued at $6,850,000 after buying an additional 18,191 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in Saia by 464.5% during the 1st quarter. Hsbc Holdings PLC now owns 6,441 shares of the transportation company's stock worth $2,240,000 after acquiring an additional 5,300 shares in the last quarter.

Analyst Upgrades and Downgrades

SAIA has been the subject of a number of research analyst reports. Citigroup upgraded Saia from a "neutral" rating to a "buy" rating and lowered their target price for the company from $524.00 to $488.00 in a report on Thursday, July 9th. Stifel Nicolaus set a $450.00 price target on shares of Saia in a research note on Friday, May 1st. JPMorgan Chase & Co. increased their price target on shares of Saia from $465.00 to $490.00 and gave the stock an "overweight" rating in a research report on Monday, June 8th. Susquehanna raised their price objective on shares of Saia from $465.00 to $470.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Wells Fargo & Company lifted their price objective on shares of Saia from $445.00 to $490.00 and gave the company an "equal weight" rating in a report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $462.72.

Saia Trading Down 3.6%

SAIA opened at $417.05 on Thursday. Saia, Inc. has a 12 month low of $249.32 and a 12 month high of $494.71. The stock has a market capitalization of $11.12 billion, a price-to-earnings ratio of 43.81, a PEG ratio of 2.03 and a beta of 2.13. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 1.52. The business has a fifty day moving average price of $447.33 and a 200 day moving average price of $400.64.

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

Saia 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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