CI Investments Inc. Reduces Stake in Saia, Inc. $SAIA

Key Points

• CI Investments Inc. cut its stake in Saia by 31.7% in the first quarter, selling 6,709 shares and ending with 14,447 shares valued at about $5.1 million.
• Saia’s latest quarterly results beat expectations, with EPS of $1.86 and revenue of $806.23 million, both ahead of analyst estimates.
• Wall Street remains generally positive on the stock: Saia has a Moderate Buy consensus rating and an average price target of $462.72, with shares recently trading around $426.55.

CI Investments Inc. lessened its holdings in Saia, Inc. (NASDAQ:SAIA - Free Report) by 31.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,447 shares of the transportation company's stock after selling 6,709 shares during the quarter. CI Investments Inc. owned about 0.05% of Saia worth $5,075,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of SAIA. Quarry LP boosted its holdings in shares of Saia by 8,400.0% in the 4th quarter. Quarry LP now owns 85 shares of the transportation company's stock valued at $28,000 after acquiring an additional 84 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Saia in the fourth quarter worth $36,000. Torren Management LLC acquired a new stake in shares of Saia in the fourth quarter worth $40,000. Allworth Financial LP raised its holdings in shares of Saia by 69.0% during the third quarter. Allworth Financial LP now owns 142 shares of the transportation company's stock worth $43,000 after purchasing an additional 58 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Saia by 1,612.5% during the fourth quarter. Larson Financial Group LLC now owns 137 shares of the transportation company's stock worth $45,000 after purchasing an additional 129 shares during the last quarter.

Analyst Upgrades and Downgrades

SAIA has been the topic of several recent research reports. Raymond James Financial lowered their price target on shares of Saia from $477.00 to $475.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Weiss Ratings upgraded Saia from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday, May 6th. Stifel Nicolaus set a $450.00 price objective on Saia in a report on Friday, May 1st. JPMorgan Chase & Co. upped their target price on Saia from $465.00 to $490.00 and gave the stock an "overweight" rating in a research note on Monday, June 8th. Finally, TD Cowen raised their target price on Saia from $367.00 to $445.00 and gave the stock a "hold" rating in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $462.72.

Saia Stock Up 0.1%

SAIA stock opened at $426.55 on Friday. The firm has a market cap of $11.38 billion, a PE ratio of 44.81, a P/E/G ratio of 1.99 and a beta of 2.13. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.52 and a current ratio of 1.52. The firm's fifty day moving average is $445.70 and its 200 day moving average is $404.89. Saia, Inc. has a one year low of $249.32 and a one year high of $494.71.

Saia (NASDAQ:SAIA - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The transportation company reported $1.86 earnings per share for the quarter, beating analysts' consensus estimates of $1.82 by $0.04. The company had revenue of $806.23 million during the quarter, compared to analysts' expectations of $789.08 million. Saia had a net margin of 7.84% and a return on equity of 9.60%. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.86 earnings per share. On average, research analysts forecast that Saia, Inc. will post 11.46 EPS for the current 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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