Nicholas Investment Partners LP Makes New $5.47 Million Investment in Saia, Inc. $SAIA

Key Points

• Nicholas Investment Partners acquired 12,999 Saia shares worth approximately $5.47 million during the second quarter. Several other institutional investors also initiated positions, including Ranger Investment Management with a $27.2 million stake.
• Saia’s latest quarterly results exceeded expectations, with earnings per share of $3.51 versus the $3.38 consensus and revenue of $956.49 million, up 17.1% year over year.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $449.67, despite shares opening at $349.54 and trading below their 50- and 200-day moving averages.

Nicholas Investment Partners LP acquired a new stake in Saia, Inc. (NASDAQ:SAIA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,999 shares of the transportation company's stock, valued at approximately $5,475,000.

Several other large investors have also made changes to their positions in SAIA. Legal & General Group Plc acquired a new stake in Saia in the 2nd quarter valued at $14,860,000. The Manufacturers Life Insurance Company purchased a new stake in Saia in the 2nd quarter worth $7,917,000. Ranger Investment Management L.P. acquired a new position in Saia during the second quarter worth $27,234,000. Sanctuary Advisors LLC acquired a new position in Saia during the second quarter worth $1,935,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in Saia during the second quarter valued at $259,000.

Saia Price Performance

Saia stock opened at $349.54 on Tuesday. Saia, Inc. has a 52-week low of $249.32 and a 52-week high of $494.71. The firm has a market capitalization of $9.32 billion, a price-to-earnings ratio of 33.74, a PEG ratio of 1.63 and a beta of 2.14. The company has a fifty day simple moving average of $403.26 and a 200-day simple moving average of $407.45. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.04.

Saia (NASDAQ:SAIA - Get Free Report) last issued its earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.38 by $0.13. The business had revenue of $956.49 million during the quarter, compared to analysts' expectations of $956.20 million. Saia had a net margin of 8.19% and a return on equity of 10.21%. The company's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.67 earnings per share. On average, equities analysts anticipate that Saia, Inc. will post 11.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently issued reports on SAIA shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Saia in a research report on Monday, August 3rd. Raymond James Financial reduced their price target on shares of Saia from $477.00 to $475.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. JPMorgan Chase & Co. raised their price target on shares of Saia from $490.00 to $498.00 and gave the company an "overweight" rating in a research note on Friday, July 31st. Barclays lowered their price objective on Saia from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. Finally, Benchmark reiterated a "buy" rating on shares of Saia in a research note on Wednesday, June 3rd. Thirteen equities 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source