Envestnet Asset Management Inc. Sells 10,600 Shares of Saia, Inc. $SAIA

Key Points

• Envestnet Asset Management reduced its Saia stake by 9.6%, selling 10,600 shares during the second quarter and retaining 99,881 shares valued at approximately $42.1 million.
• Analysts maintain a generally positive outlook, with Saia holding a consensus “Moderate Buy” rating and an average price target of $448.37, despite several recent target reductions.
• Saia reported quarterly EPS of $3.51, exceeding expectations, while revenue rose 17.1% year over year to $956.49 million. The stock opened at $324.11, well below its 12-month high of $494.71.

Envestnet Asset Management Inc. decreased its holdings in Saia, Inc. (NASDAQ:SAIA - Free Report) by 9.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 99,881 shares of the transportation company's stock after selling 10,600 shares during the period. Envestnet Asset Management Inc. owned about 0.37% of Saia worth $42,066,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp grew its stake in shares of Saia by 3.4% in the second quarter. State Street Corp now owns 854,398 shares of the transportation company's stock valued at $359,862,000 after acquiring an additional 28,397 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Saia by 0.9% during the second quarter. The Manufacturers Life Insurance Company now owns 18,798 shares of the transportation company's stock worth $7,917,000 after acquiring an additional 161 shares during the period. Sequoia Financial Advisors LLC raised its stake in Saia by 12.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,533 shares of the transportation company's stock worth $646,000 after purchasing an additional 175 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Saia in the 2nd quarter worth about $248,000. Finally, NewEdge Advisors LLC boosted its holdings in Saia by 33.2% in the 2nd quarter. NewEdge Advisors LLC now owns 2,333 shares of the transportation company's stock valued at $983,000 after purchasing an additional 582 shares during the period.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. TD Cowen decreased their price target on Saia from $445.00 to $400.00 and set a "hold" rating on the stock in a research report on Friday, July 31st. Wells Fargo & Company cut their price objective on shares of Saia from $490.00 to $400.00 and set an "equal weight" rating for the company in a research report on Friday, July 31st. Susquehanna increased their price objective on shares of Saia from $465.00 to $470.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 14th. Barclays decreased their target price on shares of Saia from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. Finally, Evercore upgraded shares of Saia from an "in-line" rating to an "outperform" rating in a research report on Wednesday, July 1st. Fourteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $448.37.

Saia Trading Down 0.0%

NASDAQ SAIA opened at $324.11 on Monday. The firm has a market capitalization of $8.64 billion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 2.62 and a beta of 2.14. The business's 50-day moving average price is $364.24 and its two-hundred day moving average price is $399.11. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.04. Saia, Inc. has a 12 month low of $249.32 and a 12 month high of $494.71.

Saia (NASDAQ:SAIA - Get Free Report) last released its earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share 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 during the quarter, compared to the consensus estimate of $956.20 million. During the same quarter in the prior year, the firm posted $2.67 EPS. The company's revenue for the quarter was up 17.1% compared to the same quarter last year. On average, analysts expect that Saia, Inc. will post 11.43 EPS for the current year.

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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