Public Employees Retirement System of Ohio Decreases Stock Holdings in Saia, Inc. $SAIA

Key Points

• The Public Employees Retirement System of Ohio reduced its stock holdings in Saia, Inc. by 59.6%, ending the second quarter with 8,506 shares valued at $2,331,000.
• Fifth Third Bancorp significantly increased its stake in Saia by 585.7%, highlighting a contrasting investment trend among institutional investors alongside the reduction from the Ohio retirement system.
• Wall Street analysts generally remain optimistic about Saia, with multiple firms raising their ratings and price targets, resulting in an average consensus target price of $346.26 for the stock.

Public Employees Retirement System of Ohio lowered its holdings in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 59.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,506 shares of the transportation company's stock after selling 12,570 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Saia were worth $2,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fifth Third Bancorp increased its holdings in shares of Saia by 585.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,488 shares of the transportation company's stock worth $408,000 after buying an additional 1,271 shares during the last quarter. Sheets Smith Wealth Management grew its position in Saia by 3.2% in the second quarter. Sheets Smith Wealth Management now owns 2,587 shares of the transportation company's stock worth $709,000 after acquiring an additional 81 shares in the last quarter. Park Avenue Securities LLC purchased a new position in Saia in the second quarter worth about $600,000. Wealth Enhancement Advisory Services LLC bought a new stake in Saia during the second quarter worth approximately $260,000. Finally, Thrive Wealth Management LLC increased its stake in Saia by 26.3% during the second quarter. Thrive Wealth Management LLC now owns 734 shares of the transportation company's stock worth $201,000 after acquiring an additional 153 shares during the last quarter.

Wall Street Analysts Forecast Growth

SAIA has been the subject of several analyst reports. Wolfe Research raised Saia from a "hold" rating to a "strong-buy" rating in a research note on Sunday, June 8th. JPMorgan Chase & Co. raised their price target on Saia from $295.00 to $380.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Barclays lifted their price objective on shares of Saia from $315.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, July 28th. Susquehanna raised shares of Saia from a "neutral" rating to a "positive" rating and increased their target price for the company from $340.00 to $360.00 in a research note on Wednesday, September 10th. Finally, Stephens raised their target price on shares of Saia from $274.00 to $300.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $346.26.

Saia Stock Performance

Shares of Saia stock opened at $293.90 on Friday. 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's fifty day moving average price is $303.20 and its 200-day moving average price is $298.93. The firm has a market cap of $7.83 billion, a P/E ratio of 27.14, a P/E/G ratio of 13.45 and a beta of 2.00. Saia, Inc. has a 12 month low of $229.12 and a 12 month high of $624.55.

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

About Saia

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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