Park Avenue Securities LLC Acquires New Stake in Saia, Inc. $SAIA

Key Points

• Park Avenue Securities LLC has acquired a new stake in Saia, Inc., purchasing 2,190 shares valued at approximately $600,000 during the second quarter.
• Despite a 2.6% drop in stock value, Saia, Inc. beat analysts' earnings per share estimates for the latest quarter, reporting $2.67 against a consensus of $2.39.
• Wall Street analysts maintain a generally favorable outlook on Saia, Inc., with a consensus target price of $347.16 and various firms issuing 'buy' ratings.

Park Avenue Securities LLC acquired a new stake in Saia, Inc. (NASDAQ:SAIA - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 2,190 shares of the transportation company's stock, valued at approximately $600,000.

Several other institutional investors have also added to or reduced their stakes in SAIA. Golden State Wealth Management LLC lifted its position in Saia by 127.0% in the 1st quarter. Golden State Wealth Management LLC now owns 84 shares of the transportation company's stock valued at $29,000 after acquiring an additional 47 shares in the last quarter. NBC Securities Inc. acquired a new position in Saia during the 1st quarter worth approximately $43,000. Mattson Financial Services LLC boosted its position in Saia by 17.5% during the 1st quarter. Mattson Financial Services LLC now owns 382 shares of the transportation company's stock worth $133,000 after acquiring an additional 57 shares during the last quarter. Picton Mahoney Asset Management acquired a new position in Saia during the 1st quarter worth approximately $135,000. Finally, GAMMA Investing LLC boosted its position in Saia by 20.2% during the 1st quarter. GAMMA Investing LLC now owns 441 shares of the transportation company's stock worth $154,000 after acquiring an additional 74 shares during the last quarter.

Saia Stock Down 2.6%

SAIA opened at $293.57 on Monday. Saia, Inc. has a 1-year low of $229.12 and a 1-year high of $624.55. The stock's fifty day simple moving average is $303.87 and its 200 day simple moving average is $299.83. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.13. The stock has a market cap of $7.82 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 13.44 and a beta of 2.00.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SAIA. Jefferies Financial Group set a $335.00 price target on Saia and gave the stock a "buy" rating in a research report on Tuesday, June 10th. The Goldman Sachs Group raised Saia from a "neutral" rating to a "buy" rating and upped their price target for the stock from $387.00 to $410.00 in a research report on Monday, June 2nd. Benchmark reaffirmed a "buy" rating and set a $360.00 price target on shares of Saia in a research report on Thursday. Wolfe Research raised Saia from a "hold" rating to a "strong-buy" rating in a research report on Sunday, June 8th. Finally, Citigroup reduced their price target on Saia from $393.00 to $373.00 and set a "buy" rating for the company in a research report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $347.16.

Saia Company 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.

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