Congress Asset Management Co. Has $362,000 Stock Position in Saia, Inc. $SAIA

Key Points

• Congress Asset Management Co. significantly reduced its stake in Saia, Inc. by 99.4%, holding only 1,321 shares valued at approximately $362,000 after selling 220,686 shares in the second quarter.
• Several hedge funds increased their holdings in Saia, including Hunter Associates Investment Management, which raised its stake by 55.6% and now owns 11,030 shares worth about $3.83 million.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Saia, with price targets ranging from $306.00 to $410.00, reflecting optimistic expectations for the company's growth.

Congress Asset Management Co. reduced its position in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 99.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,321 shares of the transportation company's stock after selling 220,686 shares during the quarter. Congress Asset Management Co.'s holdings in Saia were worth $362,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Inspire Investing LLC bought a new stake in Saia during the 1st quarter worth approximately $303,000. Hunter Associates Investment Management LLC increased its holdings in Saia by 55.6% during the 1st quarter. Hunter Associates Investment Management LLC now owns 11,030 shares of the transportation company's stock worth $3,832,000 after purchasing an additional 3,940 shares in the last quarter. Running Oak Capital LLC increased its holdings in Saia by 28.1% during the 1st quarter. Running Oak Capital LLC now owns 38,760 shares of the transportation company's stock worth $13,544,000 after purchasing an additional 8,501 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in Saia during the 1st quarter worth approximately $483,000. Finally, Marks Group Wealth Management Inc increased its holdings in Saia by 11.5% during the 1st quarter. Marks Group Wealth Management Inc now owns 21,429 shares of the transportation company's stock worth $7,488,000 after purchasing an additional 2,212 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Stifel Nicolaus reissued a "hold" rating and set a $306.00 price objective (up from $277.00) on shares of Saia in a report on Thursday, July 24th. Jefferies Financial Group set a $335.00 price objective on Saia and gave the stock a "buy" rating in a report on Tuesday, June 10th. Citigroup reduced their target price on Saia from $393.00 to $373.00 and set a "buy" rating for the company in a report on Wednesday, September 10th. Barclays upped their target price on Saia from $315.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, The Goldman Sachs Group raised Saia from a "neutral" rating to a "buy" rating and upped their target price for the company from $387.00 to $410.00 in a report on Monday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Saia has a consensus rating of "Moderate Buy" and a consensus price target of $347.16.

Saia Price Performance

Shares of NASDAQ SAIA opened at $293.57 on Friday. The stock has a fifty day simple moving average of $303.87 and a two-hundred day simple moving average of $300.19. Saia, Inc. has a 1-year low of $229.12 and a 1-year high of $624.55. The firm has a market cap of $7.82 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 13.44 and a beta of 2.00. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.13.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The transportation company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.28. Saia had a return on equity of 12.42% and a net margin of 8.96%.The business 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 company earned $3.83 earnings per share. Saia's revenue was down .7% compared to the same quarter last year. Analysts anticipate that Saia, Inc. will post 15.46 earnings per share for the current year.

Saia 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.

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