Fifth Third Bancorp Increases Position in Saia, Inc. $SAIA

Key Points

• Fifth Third Bancorp boosted its Saia stake by 1,390.7% in the first quarter, buying 18,191 additional shares to hold 19,499 shares worth about $6.85 million.
• Several analysts have recently turned more positive on Saia, with firms including Wells Fargo, JPMorgan, Wolfe Research, Benchmark, and Barclays raising targets or upgrading ratings. The stock currently carries a Moderate Buy consensus and an average price target of $462.72.
• Saia reported quarterly EPS of $1.86 and revenue of $806.23 million, both topping estimates, while revenue rose 2.4% year over year. Shares opened at $438.29, near their 52-week high of $494.71.

Fifth Third Bancorp raised its position in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 1,390.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,499 shares of the transportation company's stock after purchasing an additional 18,191 shares during the period. Fifth Third Bancorp owned approximately 0.07% of Saia worth $6,850,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP raised its holdings in shares of Saia by 8,400.0% during the 4th quarter. Quarry LP now owns 85 shares of the transportation company's stock valued at $28,000 after buying an additional 84 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in Saia in the fourth quarter worth approximately $36,000. Torren Management LLC bought a new position in Saia during the fourth quarter valued at approximately $40,000. Allworth Financial LP grew its position in Saia by 69.0% during the third quarter. Allworth Financial LP now owns 142 shares of the transportation company's stock valued at $43,000 after acquiring an additional 58 shares during the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Saia by 1,612.5% during the fourth quarter. Larson Financial Group LLC now owns 137 shares of the transportation company's stock worth $45,000 after acquiring an additional 129 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SAIA shares. Wells Fargo & Company upped their price objective on shares of Saia from $445.00 to $490.00 and gave the company an "equal weight" rating in a research note on Friday, June 5th. JPMorgan Chase & Co. boosted their price target on shares of Saia from $465.00 to $490.00 and gave the stock an "overweight" rating in a research note on Monday, June 8th. Wolfe Research upgraded shares of Saia from a "peer perform" rating to an "outperform" rating in a research report on Tuesday, April 7th. Benchmark reiterated a "buy" rating on shares of Saia in a report on Wednesday, June 3rd. Finally, Barclays boosted their target price on Saia from $400.00 to $500.00 and gave the company an "overweight" rating in a research note on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Saia currently has an average rating of "Moderate Buy" and an average target price of $462.72.

Saia Stock Performance

Shares of NASDAQ:SAIA opened at $438.29 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $447.11 and a 200-day moving average price of $401.39. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 46.04, a price-to-earnings-growth ratio of 1.96 and a beta of 2.13. 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 announced its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.04. The company had revenue of $806.23 million for the quarter, compared to the consensus estimate of $789.08 million. Saia had a return on equity of 9.60% and a net margin of 7.84%.Saia's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.86 EPS. As a group, equities analysts anticipate that Saia, Inc. will post 11.42 EPS for the current year.

About Saia

Saia, Inc is a publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America. Headquartered in Johns Creek, Georgia, the company focuses on the efficient movement of time-sensitive freight for a diverse customer base that spans retail, manufacturing, automotive, and healthcare industries. By leveraging a network of terminals and service centers, Saia provides tailored solutions designed to optimize supply chain performance.

The company's core offerings include regional, interregional, and national LTL shipping, supported by volumetric LTL and port intermodal services.

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