Maverick Capital Ltd. Takes Position in Saia, Inc. $SAIA

Key Points

• Maverick Capital initiated a position in Saia by purchasing 4,030 shares valued at approximately $1.42 million. Several other institutional investors also increased or established holdings in the transportation company.
• Saia exceeded quarterly expectations, reporting $1.86 in adjusted EPS versus a $1.82 consensus estimate and revenue of $806.23 million, up 2.4% year over year.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $462.72, compared with its reported opening price of $419.92.

Maverick Capital Ltd. purchased a new stake in Saia, Inc. (NASDAQ:SAIA - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,030 shares of the transportation company's stock, valued at approximately $1,416,000.

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

Saia Price Performance

SAIA opened at $419.92 on Tuesday. The firm has a market capitalization of $11.20 billion, a PE ratio of 44.11, a price-to-earnings-growth ratio of 1.98 and a beta of 2.13. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.52 and a quick ratio of 1.52. The business's 50-day moving average is $444.20 and its two-hundred day moving average is $405.77. Saia, Inc. has a 1 year low of $249.32 and a 1 year high of $494.71.

Saia (NASDAQ:SAIA - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.82 by $0.04. Saia had a net margin of 7.84% and a return on equity of 9.60%. The business had revenue of $806.23 million during the quarter, compared to analyst estimates of $789.08 million. During the same period in the prior year, the firm posted $1.86 earnings per share. The company's quarterly revenue was up 2.4% on a year-over-year basis. Research analysts anticipate that Saia, Inc. will post 11.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SAIA. Stephens raised shares of Saia to a "strong-buy" rating in a research note on Wednesday, July 8th. TD Cowen raised their target price on shares of Saia from $367.00 to $445.00 and gave the company a "hold" rating in a research report on Friday, May 1st. JPMorgan Chase & Co. raised their target price on shares of Saia from $465.00 to $490.00 and gave the company an "overweight" rating in a research report on Monday, June 8th. Stifel Nicolaus set a $450.00 price target on shares of Saia in a report on Friday, May 1st. Finally, Weiss Ratings raised shares of Saia from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Saia currently has an average rating of "Moderate Buy" and an average price target of $462.72.

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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