NewEdge Wealth LLC Invests $3.38 Million in Saia, Inc. $SAIA

Key Points

• NewEdge Wealth LLC initiated a $3.38 million position in Saia during the second quarter by purchasing 8,021 shares. Several other institutional investors also recently acquired or 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 expect the company to earn $11.44 per share for the current year.
• Analyst sentiment remains positive, with 13 Buy, seven Hold, and one Sell rating; the stock has a “Moderate Buy” consensus and an average price target of $449.67, compared with a recent price of $359.63.

NewEdge Wealth LLC bought a new position in Saia, Inc. (NASDAQ:SAIA - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,021 shares of the transportation company's stock, valued at approximately $3,378,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SAIA. Danske Bank A S purchased a new stake in Saia during the 2nd quarter valued at about $25,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Saia in the second quarter worth approximately $27,000. Quarry LP grew 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 valued at $28,000 after buying an additional 84 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of 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 acquiring an additional 54 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Saia during the fourth quarter valued at approximately $36,000.

Saia Stock Performance

Shares of NASDAQ:SAIA opened at $359.63 on Friday. 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, Inc. has a 12 month low of $249.32 and a 12 month high of $494.71. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 34.71, a PEG ratio of 1.62 and a beta of 2.14. The firm's 50-day moving average is $408.17 and its 200 day moving average is $407.66.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The transportation company reported $3.51 earnings per share for the quarter, beating analysts' consensus estimates of $3.38 by $0.13. The company had revenue of $956.49 million during 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 for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted $2.67 EPS. Research analysts predict that Saia, Inc. will post 11.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SAIA shares. JPMorgan Chase & Co. increased their price objective on Saia from $490.00 to $498.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. BMO Capital Markets increased their price objective on shares of Saia from $450.00 to $470.00 and gave the company a "market perform" rating in a research report on Thursday, June 4th. Evercore upgraded Saia from an "in-line" rating to an "outperform" rating in a research note on Wednesday, July 1st. Morgan Stanley cut their price objective on Saia from $295.00 to $285.00 and set an "underweight" rating for the company in a report on Friday, July 31st. Finally, UBS Group dropped their target price on Saia from $527.00 to $504.00 and set a "buy" rating on the stock in a research report on Friday, July 31st. Thirteen investment 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.

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