Engineers Gate Manager LP Cuts Stock Position in Saia, Inc. $SAIA

Key Points

• Engineers Gate Manager LP reduced its Saia position by 31.8% in the second quarter, selling 5,688 shares and retaining 12,226 shares valued at approximately $5.15 million.
• Saia reported quarterly earnings of $3.51 per share, beating estimates of $3.38, while revenue rose 17.1% year over year to $956.49 million.
• Analysts remain generally positive, with a consensus “Moderate Buy” rating and an average price target of $448.37, despite recent target-price reductions from several firms.

Engineers Gate Manager LP lessened its holdings in Saia, Inc. (NASDAQ:SAIA - Free Report) by 31.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,226 shares of the transportation company's stock after selling 5,688 shares during the period. Engineers Gate Manager LP's holdings in Saia were worth $5,149,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Danske Bank A S bought a new stake in shares of Saia in the 2nd quarter worth about $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Saia in the second quarter worth about $27,000. Meeder Asset Management Inc. increased its stake in Saia by 360.0% during the second quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company's stock worth $29,000 after acquiring an additional 54 shares during the last quarter. Quarry LP increased its stake in Saia by 8,400.0% during the fourth quarter. Quarry LP now owns 85 shares of the transportation company's stock worth $28,000 after acquiring an additional 84 shares during the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in Saia during the fourth quarter valued at approximately $36,000.

Saia Stock Up 1.5%

NASDAQ:SAIA opened at $351.05 on Friday. Saia, Inc. has a 1-year low of $249.32 and a 1-year high of $494.71. The company has a 50-day moving average of $380.60 and a 200 day moving average of $402.78. The firm has a market cap of $9.36 billion, a PE ratio of 33.89, a price-to-earnings-growth ratio of 2.79 and a beta of 2.14. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 1.58.

Saia (NASDAQ:SAIA - Get Free Report) last posted its earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.38 by $0.13. Saia had a net margin of 8.19% and a return on equity of 10.21%. The business had revenue of $956.49 million for the quarter, compared to the consensus estimate of $956.20 million. During the same quarter last year, the firm posted $2.67 EPS. The company's revenue for the quarter was up 17.1% on a year-over-year basis. As a group, research analysts anticipate that Saia, Inc. will post 11.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SAIA has been the subject of a number of recent research reports. Citigroup dropped their target price on Saia from $423.00 to $417.00 and set a "buy" rating for the company in a report on Tuesday. Stifel Nicolaus upgraded Saia from a "hold" rating to a "buy" rating and set a $438.00 price target for the company in a research report on Friday, July 31st. Stephens dropped their price objective on shares of Saia from $520.00 to $490.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Raymond James Financial cut their price objective on shares of Saia from $477.00 to $475.00 and set an "outperform" rating on the stock in a research report on Monday, July 13th. Finally, Barclays reduced their target price on shares of Saia from $500.00 to $475.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $448.37.

Saia Company Profile

Saia, Inc is a transportation and logistics company headquartered in Johns Creek, Georgia. Its principal operating subsidiary, Saia LTL Freight, provides less-than-truckload transportation, moving shipments from multiple customers in a single trailer. The company serves businesses across the contiguous United States and offers regional, interregional and long-distance freight services.

Saia's services include standard and expedited LTL shipping, guaranteed delivery options, volume and truckload solutions, and specialized transportation for certain freight needs.

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