Jupiter Topco LLC Acquires New Position in Saia, Inc. $SAIA

Key Points

• Jupiter Topco LLC acquired 334,749 Saia shares in the second quarter, valued at approximately $141 million and representing about 1.26% of the company.
• Saia reported quarterly earnings of $3.51 per share, beating estimates of $3.38, while revenue rose 17.1% year over year to $956.49 million.
• Analysts remain broadly positive, with 13 Buy ratings, six Holds and one Sell; Saia has a “Moderate Buy” consensus rating and an average price target of $449.67.

Jupiter Topco LLC bought a new position in Saia, Inc. (NASDAQ:SAIA - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 334,749 shares of the transportation company's stock, valued at approximately $140,979,000. Jupiter Topco LLC owned approximately 1.26% of Saia as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Danske Bank A S purchased a new position in shares of Saia during the 2nd quarter valued at $25,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Saia during the second quarter worth $27,000. Quarry LP raised its holdings in shares of Saia by 8,400.0% during the fourth quarter. Quarry LP now owns 85 shares of the transportation company's stock worth $28,000 after acquiring an additional 84 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Saia by 360.0% during the second quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company's stock valued at $29,000 after purchasing an additional 54 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new stake in Saia during the fourth quarter valued at $36,000.

Saia Trading Up 1.7%

Saia stock opened at $349.83 on Thursday. Saia, Inc. has a one year low of $249.32 and a one year high of $494.71. The company's fifty day moving average price is $399.48 and its two-hundred day moving average price is $406.62. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market capitalization of $9.33 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 1.55 and a beta of 2.14.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $956.20 million. Saia had a return on equity of 10.21% and a net margin of 8.19%.The business's quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.67 earnings per share. On average, analysts forecast that Saia, Inc. will post 11.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SAIA has been the topic of several research reports. Stifel Nicolaus raised Saia from a "hold" rating to a "buy" rating and set a $438.00 target price on the stock in a research report on Friday, July 31st. The Goldman Sachs Group reiterated a "buy" rating and set a $476.00 price target on shares of Saia in a report on Thursday, July 30th. Bank of America raised Saia from a "neutral" rating to a "buy" rating and boosted their price target for the company from $499.00 to $502.00 in a research note on Monday, July 13th. Wall Street Zen upgraded Saia from a "sell" rating to a "hold" rating in a report on Monday, May 4th. Finally, UBS Group cut their price objective on shares of Saia from $527.00 to $504.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Thirteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Saia presently has an average rating of "Moderate Buy" and an average target price of $449.67.

Saia Company 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.

Want to see what other hedge funds are holding SAIA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Saia, Inc. (NASDAQ:SAIA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.