Granite Investment Partners LLC Purchases 7,494 Shares of Saia, Inc. $SAIA

Key Points

• Granite Investment Partners LLC increased its Saia stake by 38.2% in the first quarter, buying 7,494 additional shares and bringing its total holdings to 27,089 shares valued at about $9.5 million.
• Several other hedge funds also boosted or initiated positions in Saia, Inc., reflecting continued institutional interest in the trucking company.
• Saia reported quarterly earnings of $1.86 per share, topping estimates, and revenue of $806.23 million; however, analysts currently have a consensus rating of Hold with an average price target of $460.50.

Granite Investment Partners LLC lifted its position in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 38.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,089 shares of the transportation company's stock after buying an additional 7,494 shares during the period. Granite Investment Partners LLC owned about 0.10% of Saia worth $9,516,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of SAIA. Oregon Public Employees Retirement Fund grew its position in Saia by 3.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 5,541 shares of the transportation company's stock valued at $1,946,000 after acquiring an additional 187 shares during the last quarter. Sageworth Trust Co bought a new stake in shares of Saia in the 1st quarter worth approximately $202,000. Montag A & Associates Inc. purchased a new stake in shares of Saia in the 1st quarter valued at $1,505,000. Swedbank AB purchased a new stake in shares of Saia in the 1st quarter valued at $2,722,000. Finally, Stephens Investment Management Group LLC grew its holdings in shares of Saia by 11.1% during the 1st quarter. Stephens Investment Management Group LLC now owns 141,326 shares of the transportation company's stock valued at $49,645,000 after purchasing an additional 14,133 shares during the last quarter.

Wall Street Analyst Weigh In

SAIA has been the subject of several recent research reports. Evercore raised shares of Saia from an "in-line" rating to an "outperform" rating in a research note on Wednesday, July 1st. Citigroup cut Saia from a "buy" rating to a "neutral" rating and raised their price objective for the company from $516.00 to $524.00 in a research note on Monday, June 15th. Raymond James Financial reiterated an "outperform" rating and issued a $477.00 price objective on shares of Saia in a report on Friday, May 1st. Susquehanna increased their target price on Saia from $425.00 to $465.00 and gave the company a "neutral" rating in a report on Tuesday, June 2nd. Finally, TD Cowen lifted their price target on Saia from $367.00 to $445.00 and gave the stock a "hold" rating in a research note on Friday, May 1st. Ten research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $460.50.

Saia Stock Down 0.3%

Shares of NASDAQ:SAIA opened at $414.65 on Thursday. Saia, Inc. has a 1 year low of $249.32 and a 1 year high of $494.71. The company has a market cap of $11.06 billion, a PE ratio of 43.56, a P/E/G ratio of 1.96 and a beta of 2.13. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 1.52. The stock's 50-day moving average is $448.57 and its 200 day moving average is $397.22.

Saia (NASDAQ:SAIA - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.86 EPS for the quarter, beating analysts' consensus estimates of $1.82 by $0.04. Saia had a return on equity of 9.60% and a net margin of 7.84%.The business had revenue of $806.23 million during the quarter, compared to analyst estimates of $789.08 million. During the same quarter in the prior year, the company posted $1.86 EPS. Saia's quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts anticipate that Saia, Inc. will post 11.53 EPS 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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