Invesco Ltd. Boosts Holdings in Saia, Inc. $SAIA

Key Points

• Invesco Ltd. increased its stake in Saia, Inc. by 30.3%, acquiring an additional 52,940 shares during the first quarter, bringing its total ownership to 227,765 shares valued at $79.6 million.
• Saia recently reported earnings per share of $2.67 for the last quarter, exceeding analysts' expectations of $2.39 but seeing a year-over-year revenue decline of 0.7%.
• Analysts have varied ratings on Saia, with recent price targets ranging from $273.00 to $365.00 and a consensus rating of "Hold."

Invesco Ltd. boosted its holdings in Saia, Inc. (NASDAQ:SAIA - Free Report) by 30.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 227,765 shares of the transportation company's stock after buying an additional 52,940 shares during the period. Invesco Ltd. owned 0.86% of Saia worth $79,588,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of SAIA. Bank of Montreal Can increased its stake in Saia by 10.3% in the 4th quarter. Bank of Montreal Can now owns 3,532 shares of the transportation company's stock worth $1,610,000 after buying an additional 329 shares in the last quarter. Mariner LLC increased its stake in Saia by 11.0% in the 4th quarter. Mariner LLC now owns 1,822 shares of the transportation company's stock worth $831,000 after buying an additional 180 shares in the last quarter. XTX Topco Ltd purchased a new stake in Saia in the 4th quarter worth $375,000. Ontario Teachers Pension Plan Board purchased a new stake in Saia in the 4th quarter worth $434,000. Finally, Marshall Wace LLP purchased a new stake in Saia in the 4th quarter worth $5,457,000.

Wall Street Analyst Weigh In

SAIA has been the subject of several research reports. Bank of America increased their price objective on shares of Saia from $251.00 to $300.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Evercore ISI increased their price target on shares of Saia from $297.00 to $345.00 and gave the company an "outperform" rating in a report on Monday, July 28th. Stifel Nicolaus reaffirmed a "hold" rating and issued a $306.00 price target (up previously from $277.00) on shares of Saia in a report on Thursday, July 24th. Wells Fargo & Company raised their price objective on shares of Saia from $290.00 to $365.00 and gave the stock an "equal weight" rating in a research note on Monday, July 28th. Finally, Wolfe Research raised shares of Saia from a "hold" rating to a "strong-buy" rating in a research note on Sunday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $347.16.

Saia Stock Performance

Shares of NASDAQ:SAIA traded down $11.2450 on Wednesday, hitting $296.6350. 194,406 shares of the company were exchanged, compared to its average volume of 648,857. Saia, Inc. has a 1-year low of $229.12 and a 1-year high of $624.55. The stock's 50 day moving average price is $289.61 and its 200 day moving average price is $326.27. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $7.90 billion, a P/E ratio of 27.39, a price-to-earnings-growth ratio of 13.64 and a beta of 1.99.

Saia (NASDAQ:SAIA - Get Free Report) last posted its earnings results on Friday, July 25th. The transportation company reported $2.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.28. The company had revenue of $817.12 million during the quarter, compared to the consensus estimate of $826.59 million. Saia had a net margin of 8.96% and a return on equity of 12.42%. The firm's quarterly revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $3.83 earnings per share. Sell-side analysts predict that Saia, Inc. will post 15.46 EPS for the current 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.