Public Employees Retirement System of Ohio Acquires New Shares in Saia, Inc. $SAIA

Key Points

• Public Employees Retirement System of Ohio acquired 8,555 Saia shares worth approximately $3.6 million during the second quarter. Several other institutional investors also increased or initiated positions in the transportation company.
• Saia reported quarterly EPS of $3.51, exceeding the $3.38 analyst consensus, while revenue rose 17.1% year over year to $956.49 million.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $449.67, despite the stock opening at $345.81 and trading below its 50- and 200-day moving averages.

Public Employees Retirement System of Ohio bought a new stake in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 8,555 shares of the transportation company's stock, valued at approximately $3,603,000.

A number of other hedge funds have also bought and sold shares of SAIA. AQR Capital Management LLC grew its stake in shares of Saia by 52.4% in the first quarter. AQR Capital Management LLC now owns 1,781 shares of the transportation company's stock worth $622,000 after acquiring an additional 612 shares during the period. Jones Financial Companies Lllp lifted its position in Saia by 334.3% during the first quarter. Jones Financial Companies Lllp now owns 873 shares of the transportation company's stock valued at $305,000 after purchasing an additional 672 shares during the period. California Public Employees Retirement System lifted its position in Saia by 4.3% during the second quarter. California Public Employees Retirement System now owns 32,543 shares of the transportation company's stock valued at $8,916,000 after purchasing an additional 1,356 shares during the period. Qube Research & Technologies Ltd bought a new position in Saia during the second quarter valued at approximately $11,599,000. Finally, Frontier Capital Management Co. LLC purchased a new stake in Saia in the second quarter worth approximately $13,943,000.

Saia Stock Up 4.1%

SAIA opened at $345.81 on Friday. The firm's 50 day simple moving average is $388.89 and its two-hundred day simple moving average is $404.58. The company has a market capitalization of $9.22 billion, a PE ratio of 33.38, a PEG ratio of 1.49 and a beta of 2.14. Saia, Inc. has a 1-year low of $249.32 and a 1-year high of $494.71. 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 (NASDAQ:SAIA - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The transportation company reported $3.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.38 by $0.13. The firm had revenue of $956.49 million during the quarter, compared to the consensus estimate of $956.20 million. Saia had a net margin of 8.19% and a return on equity of 10.21%. The company's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.67 EPS. As a group, equities analysts forecast that Saia, Inc. will post 11.44 EPS for the current year.

Wall Street Analysts Forecast Growth

SAIA has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price 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. Raymond James Financial dropped their price target on Saia from $477.00 to $475.00 and set an "outperform" rating on the stock in a research note on Monday, July 13th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $476.00 price objective on shares of Saia in a report on Thursday, July 30th. Stephens lowered their target price on Saia from $520.00 to $490.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Saia in a research report on Monday, August 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Saia currently has an average rating of "Moderate Buy" and an average target price of $449.67.

Saia 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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