Comerica Bank Acquires 10,313 Shares of Saia, Inc. $SAIA

Key Points

• Comerica Bank increased its stake in Saia, Inc. by 15.0%, owning 78,903 shares worth approximately $27.57 million as of the latest SEC filing.
• Analysts have varied opinions on Saia, with UBS reducing their price target from $422 to $305, while JPMorgan raised theirs from $295 to $380, reflecting a divergence in market sentiment.
• Saia, Inc. reported $2.67 earnings per share for the last quarter, surpassing estimates, although quarterly revenue saw a 0.7% decline compared to the previous year.

Comerica Bank increased its stake in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 15.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 78,903 shares of the transportation company's stock after acquiring an additional 10,313 shares during the period. Comerica Bank owned about 0.30% of Saia worth $27,571,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Heritage Family Offices LLP grew its stake in Saia by 4.1% during the first quarter. Heritage Family Offices LLP now owns 741 shares of the transportation company's stock worth $259,000 after purchasing an additional 29 shares during the period. Golden State Wealth Management LLC grew its position in Saia by 127.0% in the 1st quarter. Golden State Wealth Management LLC now owns 84 shares of the transportation company's stock valued at $29,000 after purchasing an additional 47 shares during the period. Cresset Asset Management LLC increased its stake in Saia by 3.8% during the 1st quarter. Cresset Asset Management LLC now owns 1,268 shares of the transportation company's stock valued at $443,000 after purchasing an additional 47 shares in the last quarter. Portside Wealth Group LLC raised its holdings in Saia by 4.6% during the first quarter. Portside Wealth Group LLC now owns 1,206 shares of the transportation company's stock worth $421,000 after buying an additional 53 shares during the last quarter. Finally, Rehmann Capital Advisory Group lifted its stake in shares of Saia by 11.4% in the fourth quarter. Rehmann Capital Advisory Group now owns 536 shares of the transportation company's stock valued at $244,000 after buying an additional 55 shares in the last quarter.

Wall Street Analyst Weigh In

SAIA has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on Saia from $290.00 to $365.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Citigroup restated a "buy" rating and set a $393.00 price objective (up from $350.00) on shares of Saia in a research note on Monday, July 28th. The Goldman Sachs Group raised shares of Saia from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $387.00 to $410.00 in a report on Monday, June 2nd. Evercore ISI upped their price objective on shares of Saia from $297.00 to $345.00 and gave the stock an "outperform" rating in a research report on Monday, July 28th. Finally, Wolfe Research raised shares of Saia from a "hold" rating to a "strong-buy" rating in a research report on Sunday, June 8th. One 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 company. According to MarketBeat.com, Saia has a consensus rating of "Moderate Buy" and an average target price of $347.16.

Saia Price Performance

NASDAQ SAIA traded down $10.43 during trading hours on Thursday, hitting $292.36. The company had a trading volume of 748,838 shares, compared to its average volume of 649,519. The firm has a 50 day simple moving average of $295.50 and a 200 day simple moving average of $318.32. Saia, Inc. has a 52 week low of $229.12 and a 52 week high of $624.55. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 14.19 and a beta of 1.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.49 and a current ratio of 1.49.

Saia (NASDAQ:SAIA - Get Free Report) last posted 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 business had revenue of $817.12 million for the quarter, compared to analysts' expectations of $826.59 million. During the same period in the prior year, the company posted $3.83 EPS. The business's revenue for the quarter was down .7% compared to the same quarter last year. Equities research analysts expect that Saia, Inc. will post 15.46 earnings per share for the current year.

Saia Company Profile

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.