Legal & General Group Plc Acquires New Stake in Saia, Inc. $SAIA

Key Points

• Legal & General Group Plc acquired 35,284 Saia shares in the second quarter, valued at approximately $14.86 million and representing about 0.13% of the company. Several other institutional investors also increased or initiated positions.
• Saia reported quarterly revenue of $956.49 million and earnings of $3.51 per share, exceeding analyst expectations, while revenue grew 17.1% year over year.
• Analysts maintain a “Moderate Buy” consensus, with 13 Buy, six Hold, and one Sell rating and an average price target of $449.67. Shares recently traded at $352.25, below their 50-day and 200-day moving averages.

Legal & General Group Plc bought a new position in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 35,284 shares of the transportation company's stock, valued at approximately $14,860,000. Legal & General Group Plc owned about 0.13% of Saia as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SAIA. AQR Capital Management LLC lifted its stake in shares of Saia by 52.4% in the first quarter. AQR Capital Management LLC now owns 1,781 shares of the transportation company's stock worth $622,000 after acquiring an additional 612 shares during the period. Jones Financial Companies Lllp raised its holdings in Saia by 334.3% during the 1st quarter. Jones Financial Companies Lllp now owns 873 shares of the transportation company's stock worth $305,000 after purchasing an additional 672 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Saia by 4.3% in the 2nd quarter. California Public Employees Retirement System now owns 32,543 shares of the transportation company's stock worth $8,916,000 after purchasing an additional 1,356 shares during the period. Qube Research & Technologies Ltd bought a new stake in shares of Saia in the 2nd quarter valued at $11,599,000. Finally, Frontier Capital Management Co. LLC bought a new position in Saia during the second quarter worth $13,943,000.

Saia Price Performance

Saia stock opened at $352.25 on Monday. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. The firm's fifty day moving average price is $396.18 and its two-hundred day moving average price is $405.78. Saia, Inc. has a 1-year low of $249.32 and a 1-year high of $494.71. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.04.

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 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 net margin of 8.19% and a return on equity of 10.21%. The firm's revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.67 EPS. On average, equities research analysts predict that Saia, Inc. will post 11.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on SAIA shares. Susquehanna upped their price target on shares of Saia from $465.00 to $470.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Raymond James Financial decreased their target price on Saia from $477.00 to $475.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. Citigroup dropped their price target on Saia from $488.00 to $423.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Morgan Stanley dropped their target price on shares of Saia from $295.00 to $285.00 and set an "underweight" rating on the stock in a research report on Friday, July 31st. Finally, JPMorgan Chase & Co. increased their target price on shares of Saia from $490.00 to $498.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Thirteen 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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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