Hodges Capital Management Inc. Purchases Shares of 8,900 Saia, Inc. $SAIA

Key Points

• Hodges Capital Management acquired 8,900 shares of Saia in the second quarter, valued at approximately $3.75 million. Several other institutional investors also recently increased or initiated positions.
• Saia’s latest quarterly results exceeded expectations, with earnings of $3.51 per share and revenue of $956.49 million, up 17.1% year over year.
• Analysts maintain a “Moderate Buy” consensus, with 13 Buy, seven Hold, and one Sell rating and an average price target of $449.67, despite several recent target-price reductions.

Hodges Capital Management Inc. acquired a new stake in Saia, Inc. (NASDAQ:SAIA - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 8,900 shares of the transportation company's stock, valued at approximately $3,748,000.

Other institutional investors also recently modified their holdings of the company. Quarry LP lifted its stake in Saia by 8,400.0% in the 4th quarter. Quarry LP now owns 85 shares of the transportation company's stock valued at $28,000 after purchasing an additional 84 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Saia during the fourth quarter worth about $36,000. Torren Management LLC acquired a new position in Saia during the fourth quarter worth approximately $40,000. Larson Financial Group LLC increased its position in 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 buying an additional 129 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its position in Saia by 46.9% during the fourth quarter. Farther Finance Advisors LLC now owns 144 shares of the transportation company's stock worth $47,000 after buying an additional 46 shares during the last quarter.

Saia Trading Up 1.1%

Shares of NASDAQ:SAIA opened at $384.32 on Friday. Saia, Inc. has a 12-month low of $249.32 and a 12-month high of $494.71. The business has a 50 day moving average of $416.93 and a 200-day moving average of $406.56. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.04. The stock has a market cap of $10.25 billion, a PE ratio of 37.10, a P/E/G ratio of 1.71 and a beta of 2.14.

Saia (NASDAQ:SAIA - Get Free Report) last announced its earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share for the quarter, topping analysts' consensus estimates of $3.38 by $0.13. The company had revenue of $956.49 million for the quarter, compared to analyst estimates of $956.20 million. Saia had a return on equity of 10.21% and a net margin of 8.19%.The firm's quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.67 earnings per share. As a group, equities research analysts forecast that Saia, Inc. will post 11.46 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley cut their price objective on Saia from $295.00 to $285.00 and set an "underweight" rating for the company in a research report on Friday, July 31st. Barclays decreased their target price on Saia from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. TD Cowen cut their price target on Saia from $445.00 to $400.00 and set a "hold" rating for the company in a report on Friday, July 31st. Raymond James Financial reduced their price objective on shares of Saia from $477.00 to $475.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Finally, Bank of America upgraded shares of Saia from a "neutral" rating to a "buy" rating and upped their price objective for the company from $499.00 to $502.00 in a report on Monday, July 13th. Thirteen research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $449.67.

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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