Fifth Third Bancorp Has $408,000 Stock Holdings in Saia, Inc. $SAIA

Key Points

• Fifth Third Bancorp increased its holdings in Saia, Inc. by 585.7% in Q2, bringing their total investment to $408,000 with 1,488 shares.
• Several analysts have recently upgraded Saia's stock, with JPMorgan raising the target price from $295 to $380 and Wolfe Research upgrading it to a "strong-buy" rating.
• Saia reported a Q2 EPS of $2.67, exceeding estimates, despite a 0.7% year-over-year decline in revenue.

Fifth Third Bancorp lifted its holdings in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 585.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,488 shares of the transportation company's stock after buying an additional 1,271 shares during the period. Fifth Third Bancorp's holdings in Saia were worth $408,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its stake in Saia by 11.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,831,614 shares of the transportation company's stock valued at $989,452,000 after purchasing an additional 288,746 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Saia by 17.3% in the 1st quarter. Alliancebernstein L.P. now owns 2,275,661 shares of the transportation company's stock valued at $795,184,000 after purchasing an additional 336,046 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Saia by 35.4% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,206,837 shares of the transportation company's stock valued at $421,705,000 after purchasing an additional 315,514 shares during the last quarter. Select Equity Group L.P. lifted its stake in Saia by 59.6% in the 1st quarter. Select Equity Group L.P. now owns 480,498 shares of the transportation company's stock valued at $167,900,000 after purchasing an additional 179,444 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in Saia by 12.5% in the 1st quarter. Voya Investment Management LLC now owns 421,172 shares of the transportation company's stock valued at $147,020,000 after purchasing an additional 46,770 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SAIA. JPMorgan Chase & Co. raised their target price on shares of Saia from $295.00 to $380.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Wolfe Research upgraded shares of Saia from a "hold" rating to a "strong-buy" rating in a research note on Sunday, June 8th. Zacks Research upgraded shares of Saia from a "strong sell" rating to a "hold" rating in a research note on Monday, August 25th. Stephens raised their target price on shares of Saia from $274.00 to $300.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 29th. Finally, Stifel Nicolaus reiterated a "hold" rating and issued a $306.00 target price (up from $277.00) on shares of Saia in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Saia presently has a consensus rating of "Moderate Buy" and a consensus target price of $347.16.

Saia Stock Up 0.4%

Shares of SAIA opened at $294.65 on Tuesday. Saia, Inc. has a 12 month low of $229.12 and a 12 month high of $624.55. The firm's 50 day moving average is $304.00 and its 200-day moving average is $299.42. The stock has a market capitalization of $7.85 billion, a PE ratio of 27.21, a P/E/G 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 earnings results on Friday, July 25th. The transportation company reported $2.67 EPS for the quarter, topping the consensus estimate of $2.39 by $0.28. Saia had a net margin of 8.96% and a return on equity of 12.42%. The company had revenue of $817.12 million for the quarter, compared to analysts' expectations of $826.59 million. During the same period last year, the firm earned $3.83 earnings per share. The business's revenue for the quarter was down .7% on a year-over-year basis. Equities research analysts forecast that Saia, Inc. will post 15.46 EPS for the current year.

Saia Company 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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