Hsbc Holdings PLC Grows Stock Holdings in Saia, Inc. $SAIA

Key Points

• Hsbc Holdings PLC increased its stake in Saia, Inc. by 118.1% during the first quarter, now holding 2,270 shares valued at $791,000.
• Saia reported a quarterly earnings per share (EPS) of $2.67, exceeding expectations, though its revenue decreased 0.7% year-over-year.
• Analysts suggest a consensus price target of $347.16 for Saia, with some firms upgrading their ratings and price targets in recent reports.

Hsbc Holdings PLC grew its position in Saia, Inc. (NASDAQ:SAIA - Free Report) by 118.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,270 shares of the transportation company's stock after acquiring an additional 1,229 shares during the quarter. Hsbc Holdings PLC's holdings in Saia were worth $791,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Saia by 11.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,550 shares of the transportation company's stock valued at $891,000 after acquiring an additional 254 shares during the period. Algert Global LLC purchased a new stake in shares of Saia in the first quarter valued at $4,441,000. Raymond James Financial Inc. raised its stake in shares of Saia by 1.6% in the first quarter. Raymond James Financial Inc. now owns 103,650 shares of the transportation company's stock valued at $36,218,000 after acquiring an additional 1,586 shares during the period. Cresset Asset Management LLC grew its holdings in shares of Saia by 3.8% in the first quarter. Cresset Asset Management LLC now owns 1,268 shares of the transportation company's stock worth $443,000 after purchasing an additional 47 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Saia by 3.8% in the first quarter. American Century Companies Inc. now owns 168,475 shares of the transportation company's stock worth $58,870,000 after purchasing an additional 6,212 shares during the last quarter.

Analysts Set New Price Targets

SAIA has been the topic of a number of research analyst reports. Jefferies Financial Group set a $335.00 price target on shares of Saia and gave the stock a "buy" rating in a report on Tuesday, June 10th. JPMorgan Chase & Co. upped their price target on shares of Saia from $295.00 to $380.00 and gave the stock an "overweight" rating in a report on Monday, July 28th. Evercore ISI upped their price target on shares of Saia from $297.00 to $345.00 and gave the stock an "outperform" rating in a report on Monday, July 28th. Benchmark upped their price target on shares of Saia from $325.00 to $360.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Bank of America upped their price target on shares of Saia from $251.00 to $300.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $347.16.

Saia Stock Down 0.5%

Saia stock traded down $1.34 during midday trading on Wednesday, hitting $291.13. 332,350 shares of the company's stock were exchanged, compared to its average volume of 647,243. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.49 and a current ratio of 1.49. Saia, Inc. has a 12 month low of $229.12 and a 12 month high of $624.55. The firm has a 50-day moving average of $297.18 and a two-hundred day moving average of $313.21. The company has a market cap of $7.75 billion, a PE ratio of 26.88, a P/E/G ratio of 13.58 and a beta of 2.00.

Saia (NASDAQ:SAIA - Get Free Report) last issued its earnings results on Friday, July 25th. The transportation company reported $2.67 earnings per share (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 in the prior year, the business earned $3.83 EPS. The firm's quarterly revenue was down .7% on a year-over-year basis. As a group, analysts expect that Saia, Inc. will post 15.46 earnings per share for the current fiscal year.

About Saia

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.