Neuberger Berman Group LLC Sells 45,923 Shares of Saia, Inc. $SAIA

Key Points

• Neuberger Berman Group LLC reduced its stake in Saia, Inc. by 56.0%, owning 36,077 shares valued at approximately $12.6 million after selling 45,923 shares in the first quarter.
• Saia reported $2.67 earnings per share for the last quarter, exceeding analysts' consensus estimates of $2.39, although revenue fell 0.7% year-over-year.
• Several brokerages have raised their price objectives for Saia, with targets ranging from $310.00 to $380.00, reflecting a positive outlook on the stock.

Neuberger Berman Group LLC lessened its stake in Saia, Inc. (NASDAQ:SAIA - Free Report) by 56.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,077 shares of the transportation company's stock after selling 45,923 shares during the period. Neuberger Berman Group LLC owned approximately 0.14% of Saia worth $12,606,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Balyasny Asset Management L.P. grew its stake in shares of Saia by 24,815.0% during the 4th quarter. Balyasny Asset Management L.P. now owns 372,728 shares of the transportation company's stock valued at $169,863,000 after purchasing an additional 371,232 shares during the period. Select Equity Group L.P. purchased a new position in shares of Saia in the fourth quarter worth approximately $137,199,000. Interval Partners LP bought a new stake in Saia during the fourth quarter valued at approximately $89,229,000. Ameriprise Financial Inc. increased its holdings in Saia by 76.2% during the fourth quarter. Ameriprise Financial Inc. now owns 355,929 shares of the transportation company's stock valued at $162,213,000 after buying an additional 153,896 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Saia by 41,888.8% in the first quarter. GAMMA Investing LLC now owns 154,099 shares of the transportation company's stock worth $53,847,000 after acquiring an additional 153,732 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wolfe Research raised shares of Saia from a "hold" rating to a "strong-buy" rating in a research report on Sunday, June 8th. Benchmark upped their price target on Saia from $325.00 to $360.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Susquehanna lifted their price target on shares of Saia from $275.00 to $340.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Jefferies Financial Group set a $335.00 target price on shares of Saia and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Stephens upped their target price on shares of Saia from $274.00 to $300.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $347.16.

Saia Price Performance

Shares of NASDAQ:SAIA traded down $10.2690 on Wednesday, reaching $297.6110. The company's stock had a trading volume of 64,376 shares, compared to its average volume of 648,040. The company has a 50-day simple moving average of $289.61 and a 200 day simple moving average of $326.27. Saia, Inc. has a 52-week low of $229.12 and a 52-week high of $624.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $7.93 billion, a P/E ratio of 27.45, a PEG ratio of 13.64 and a beta of 1.99.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The transportation company reported $2.67 EPS for the quarter, beating analysts' consensus estimates of $2.39 by $0.28. Saia had a net margin of 8.96% and a return on equity of 12.42%. The firm had revenue of $817.12 million during the quarter, compared to the consensus estimate of $826.59 million. During the same quarter last year, the firm earned $3.83 EPS. The firm's revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts anticipate that Saia, Inc. will post 15.46 EPS for the current fiscal year.

Saia Profile

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.