Oppenheimer Asset Management Inc. Sells 4,957 Shares of Saia, Inc. $SAIA

Key Points

• Oppenheimer Asset Management cut its Saia stake by 45.8% in the second quarter, selling 4,957 shares and retaining 5,862 shares valued at approximately $2.47 million.
• Analysts remain broadly positive on Saia, with a consensus “Moderate Buy” rating and an average price target of $449.67; 13 analysts rate the stock a Buy, seven Hold, and one Sell.
• Saia reported quarterly earnings of $3.51 per share, exceeding estimates of $3.38, while revenue rose 17.1% year over year to $956.49 million.

Oppenheimer Asset Management Inc. reduced its stake in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 45.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,862 shares of the transportation company's stock after selling 4,957 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Saia were worth $2,469,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vestor Capital LLC lifted its position in shares of Saia by 9.5% in the 4th quarter. Vestor Capital LLC now owns 323 shares of the transportation company's stock worth $96,000 after purchasing an additional 28 shares during the period. Parallel Advisors LLC increased its position in shares of Saia by 5.8% during the fourth quarter. Parallel Advisors LLC now owns 563 shares of the transportation company's stock valued at $184,000 after buying an additional 31 shares during the period. Wealth Alliance LLC increased its position in shares of Saia by 5.1% during the first quarter. Wealth Alliance LLC now owns 763 shares of the transportation company's stock valued at $268,000 after buying an additional 37 shares during the period. Handelsbanken Fonder AB raised its stake in Saia by 0.5% in the second quarter. Handelsbanken Fonder AB now owns 8,858 shares of the transportation company's stock worth $3,731,000 after buying an additional 40 shares in the last quarter. Finally, Boothbay Fund Management LLC raised its stake in Saia by 3.2% in the second quarter. Boothbay Fund Management LLC now owns 1,401 shares of the transportation company's stock worth $384,000 after buying an additional 43 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SAIA. Jefferies Financial Group lifted their price objective on Saia from $500.00 to $550.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. BMO Capital Markets increased their target price on Saia from $450.00 to $470.00 and gave the stock a "market perform" rating in a research report on Thursday, June 4th. Barclays lowered their target price on Saia from $500.00 to $475.00 and set an "overweight" rating for the company in a research note on Friday, July 31st. Bank of America upgraded Saia from a "neutral" rating to a "buy" rating and lifted their price target for the company from $499.00 to $502.00 in a research report on Monday, July 13th. Finally, Wall Street Zen raised Saia from a "sell" rating to a "hold" rating in a research note on Monday, May 4th. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $449.67.

Saia Stock Performance

NASDAQ:SAIA opened at $384.32 on Monday. The firm has a market capitalization of $10.25 billion, a P/E ratio of 37.10, a PEG ratio of 1.73 and a beta of 2.14. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 1.58. Saia, Inc. has a one year low of $249.32 and a one year high of $494.71. The company's 50-day simple moving average is $416.93 and its 200 day simple moving average is $406.98.

Saia (NASDAQ:SAIA - Get Free Report) last announced its earnings results 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. Saia had a net margin of 8.19% and a return on equity of 10.21%. The business had revenue of $956.49 million during the quarter, compared to the consensus estimate of $956.20 million. During the same quarter last year, the firm earned $2.67 earnings per share. The business's revenue for the quarter was up 17.1% on a year-over-year basis. As a group, analysts forecast that Saia, Inc. will post 11.44 EPS for the current fiscal year.

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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