Driehaus Capital Management LLC Has $5.48 Million Stock Holdings in Saia, Inc. $SAIA

Key Points

• Driehaus Capital Management LLC significantly reduced its stake in Saia, Inc. by selling 60,046 shares, marking a 79.3% decrease in ownership during the first quarter.
• Saia reported a quarterly earnings per share of $2.67, which exceeded analysts' expectations of $2.39, despite revenue falling short of projections at $817.12 million.
• Several analysts have recently adjusted their target prices for Saia, with Benchmark raising its target to $360 and Goldman Sachs upgrading its rating to "buy" with a target of $410.

Driehaus Capital Management LLC reduced its holdings in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 79.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,680 shares of the transportation company's stock after selling 60,046 shares during the quarter. Driehaus Capital Management LLC owned 0.06% of Saia worth $5,479,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Interval Partners LP acquired a new position in shares of Saia during the fourth quarter worth $89,229,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Saia during the fourth quarter worth about $908,000. Hunter Associates Investment Management LLC increased its holdings in Saia by 55.6% in the first quarter. Hunter Associates Investment Management LLC now owns 11,030 shares of the transportation company's stock valued at $3,832,000 after buying an additional 3,940 shares during the last quarter. Running Oak Capital LLC raised its position in shares of Saia by 28.1% during the 1st quarter. Running Oak Capital LLC now owns 38,760 shares of the transportation company's stock valued at $13,544,000 after acquiring an additional 8,501 shares in the last quarter. Finally, Blueshift Asset Management LLC bought a new position in Saia in the first quarter worth about $483,000.

Saia Price Performance

Shares of Saia stock traded up $1.73 during mid-day trading on Thursday, reaching $292.86. 250,014 shares of the stock were exchanged, compared to its average volume of 644,776. Saia, Inc. has a fifty-two week low of $229.12 and a fifty-two week high of $624.55. The company has a market cap of $7.80 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 13.58 and a beta of 2.00. The firm has a 50-day simple moving average of $297.60 and a 200 day simple moving average of $313.06. 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 earnings results on Friday, July 25th. The transportation company reported $2.67 earnings per share for the quarter, beating analysts' consensus estimates of $2.39 by $0.28. The company had revenue of $817.12 million during the quarter, compared to analyst estimates of $826.59 million. Saia had a return on equity of 12.42% and a net margin of 8.96%.The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same period last year, the company posted $3.83 earnings per share. On average, sell-side analysts predict that Saia, Inc. will post 15.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on SAIA shares. Wells Fargo & Company raised their price target on shares of Saia from $290.00 to $365.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Stephens boosted their price target on shares of Saia from $274.00 to $300.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. The Goldman Sachs Group upgraded 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. Zacks Research raised Saia from a "strong sell" rating to a "hold" rating in a research report on Monday, August 25th. Finally, JPMorgan Chase & Co. raised their target price on Saia from $295.00 to $380.00 and gave the company an "overweight" rating in a report on Monday, July 28th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $347.16.

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.