Freestone Grove Partners LP Invests $58.20 Million in Saia, Inc. $SAIA

Key Points

• Freestone Grove Partners LP initiated a $58.2 million position in Saia, buying 138,190 shares and owning approximately 0.52% of the company.
• Analysts maintain a “Moderate Buy” consensus on Saia, with 13 Buy, six Hold, and one Sell rating and an average price target of $449.67.
• Saia exceeded quarterly earnings expectations with EPS of $3.51 versus $3.38 expected, while revenue rose 17.1% year over year to $956.49 million.

Freestone Grove Partners LP bought a new position in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 138,190 shares of the transportation company's stock, valued at approximately $58,200,000. Freestone Grove Partners LP owned about 0.52% of Saia at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Montag A & Associates Inc. acquired a new position in Saia during the first quarter valued at approximately $1,505,000. Marks Group Wealth Management Inc grew its stake in Saia by 32.9% in the first quarter. Marks Group Wealth Management Inc now owns 19,040 shares of the transportation company's stock valued at $6,688,000 after purchasing an additional 4,717 shares in the last quarter. London Co. of Virginia increased its position in shares of Saia by 10.5% during the 1st quarter. London Co. of Virginia now owns 86,774 shares of the transportation company's stock worth $30,484,000 after purchasing an additional 8,255 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Saia by 23.1% during the 1st quarter. California State Teachers Retirement System now owns 30,917 shares of the transportation company's stock worth $10,861,000 after purchasing an additional 5,810 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in shares of Saia by 464.5% during the 1st quarter. Hsbc Holdings PLC now owns 6,441 shares of the transportation company's stock worth $2,240,000 after purchasing an additional 5,300 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. The Goldman Sachs Group reissued a "buy" rating and issued a $476.00 price objective on shares of Saia in a report on Thursday, July 30th. Stephens lowered their target price on shares of Saia from $520.00 to $490.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. TD Cowen dropped their price target on shares of Saia from $445.00 to $400.00 and set a "hold" rating on the stock in a research report on Friday, July 31st. Benchmark reiterated a "buy" rating on shares of Saia in a research note on Wednesday, June 3rd. Finally, BMO Capital Markets lifted their price objective on shares of Saia from $450.00 to $470.00 and gave the company a "market perform" rating in a research report on Thursday, June 4th. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $449.67.

Saia Stock Up 1.7%

SAIA stock opened at $349.83 on Thursday. Saia, Inc. has a fifty-two week low of $249.32 and a fifty-two week high of $494.71. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 1.55 and a beta of 2.14. The business's fifty day moving average price is $399.48 and its two-hundred day moving average price is $406.62.

Saia (NASDAQ:SAIA - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $2.67 earnings per share. Saia's revenue was up 17.1% compared to the same quarter last year. On average, equities analysts anticipate that Saia, Inc. will post 11.44 earnings per share for the current year.

Saia Profile

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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