Jennison Associates LLC Buys New Holdings in Saia, Inc. $SAIA

Key Points

• Jennison Associates bought 61,433 Saia shares worth approximately $25.9 million in the second quarter, joining several other institutional investors that recently increased their holdings.
• Saia reported quarterly EPS of $3.51, exceeding estimates of $3.38, while revenue rose 17.1% year over year to $956.49 million.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $449.67 versus the stock’s reported price of $384.32.

Jennison Associates LLC bought a new position in Saia, Inc. (NASDAQ:SAIA - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 61,433 shares of the transportation company's stock, valued at approximately $25,873,000. Jennison Associates LLC owned 0.23% of Saia at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SAIA. Viking Global Investors LP bought a new stake in Saia in the 2nd quarter valued at $226,770,000. Invesco Ltd. raised its stake in shares of Saia by 1,300.4% in the 3rd quarter. Invesco Ltd. now owns 701,418 shares of the transportation company's stock valued at $209,976,000 after buying an additional 651,332 shares in the last quarter. Norges Bank bought a new position in shares of Saia during the 4th quarter worth about $130,411,000. Freestone Grove Partners LP bought a new position in shares of Saia during the 3rd quarter worth about $56,305,000. Finally, First Trust Advisors LP boosted its position in shares of Saia by 33.0% during the 4th quarter. First Trust Advisors LP now owns 740,798 shares of the transportation company's stock valued at $241,885,000 after acquiring an additional 183,669 shares in the last quarter.

Saia Stock Up 1.1%

Shares of NASDAQ:SAIA opened at $384.32 on Friday. Saia, Inc. has a 52 week low of $249.32 and a 52 week high of $494.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.58 and a current ratio of 1.58. The company's fifty day moving average is $416.93 and its 200-day moving average is $406.56. The company has a market capitalization 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 posted its earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.13. The business had revenue of $956.49 million for the quarter, compared to analyst estimates of $956.20 million. Saia had a net margin of 8.19% and a return on equity of 10.21%. The firm's quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.67 EPS. Equities research analysts predict that Saia, Inc. will post 11.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of Saia from a "sell" rating to a "hold" rating in a research note on Monday, May 4th. Evercore upgraded shares of Saia from an "in-line" rating to an "outperform" rating in a research note on Wednesday, July 1st. UBS Group cut their price target on shares of Saia from $527.00 to $504.00 and set a "buy" rating for the company in a research note on Friday, July 31st. Bank of America raised Saia from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $499.00 to $502.00 in a report on Monday, July 13th. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $476.00 price objective on shares of Saia in a research note on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Saia currently has a consensus rating of "Moderate Buy" and an average price target of $449.67.

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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