Equitable Trust Co. Acquires Shares of 962 Saia, Inc. (NASDAQ:SAIA)

Key Points

• Equitable Trust Co. has invested approximately $336,000 in Saia, Inc., acquiring 962 shares during the first quarter.
• Saia reported earnings of $2.67 per share for the quarter, surpassing estimates, although revenue decreased by 0.7% year-over-year.
• Wall Street analysts have mixed ratings on Saia, with an average price target of $339.79 and one sell rating among various hold and buy ratings.

Equitable Trust Co. bought a new position in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 962 shares of the transportation company's stock, valued at approximately $336,000.

A number of other hedge funds have also modified their holdings of SAIA. Commonwealth Equity Services LLC boosted its position in Saia by 4.4% during the fourth quarter. Commonwealth Equity Services LLC now owns 2,614 shares of the transportation company's stock worth $1,191,000 after acquiring an additional 109 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Saia in the 4th quarter worth approximately $544,000. LPL Financial LLC boosted its holdings in shares of Saia by 22.6% during the 4th quarter. LPL Financial LLC now owns 25,381 shares of the transportation company's stock worth $11,567,000 after purchasing an additional 4,679 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Saia by 172.7% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 60 shares of the transportation company's stock valued at $28,000 after purchasing an additional 38 shares in the last quarter. Finally, Norges Bank purchased a new position in Saia during the fourth quarter worth approximately $64,410,000.

Wall Street Analyst Weigh In

SAIA has been the subject of several recent analyst reports. The Goldman Sachs Group upgraded shares of Saia from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $387.00 to $410.00 in a research report on Monday, June 2nd. Stephens increased their price target on Saia from $274.00 to $300.00 and gave the stock an "equal weight" rating in a report on Tuesday. BMO Capital Markets cut shares of Saia from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $455.00 to $285.00 in a research report on Friday, April 25th. Bank of America upped their price objective on shares of Saia from $251.00 to $300.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Finally, Benchmark lifted their target price on shares of Saia from $325.00 to $360.00 and gave the company a "buy" rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Saia presently has a consensus rating of "Hold" and an average target price of $347.16.

Saia Stock Down 2.2%

Shares of SAIA traded down $6.98 during mid-day trading on Wednesday, reaching $308.25. The company's stock had a trading volume of 141,239 shares, compared to its average volume of 661,077. The company's 50 day moving average is $279.61 and its 200 day moving average is $346.20. The stock has a market cap of $8.21 billion, a PE ratio of 28.48, a price-to-earnings-growth ratio of 14.68 and a beta of 1.98. Saia, Inc. has a 12-month low of $229.12 and a 12-month high of $624.55. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.49 and a quick ratio of 1.43.

Saia (NASDAQ:SAIA - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The transportation company reported $2.67 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.28. The business had revenue of $817.12 million during the quarter, compared to the consensus estimate of $826.59 million. Saia had a net margin of 8.96% and a return on equity of 12.42%. The company's revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.83 EPS. Equities analysts anticipate that Saia, Inc. will post 15.46 EPS for the current fiscal 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.