Ranger Investment Management L.P. Buys Shares of 64,665 Saia, Inc. $SAIA

Key Points

• Ranger Investment Management purchased 64,665 Saia shares worth approximately $27.2 million, making the stock its 18th-largest holding and representing about 1.7% of its portfolio.
• Other major institutional investors, including BlackRock, Viking Global Investors and Invesco, also increased their Saia positions during recent reporting periods.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $449.67, while Saia recently reported quarterly EPS of $3.51 and revenue of $956.49 million, with revenue up 17.1% year over year.

Ranger Investment Management L.P. purchased a new stake in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 64,665 shares of the transportation company's stock, valued at approximately $27,234,000. Saia accounts for about 1.7% of Ranger Investment Management L.P.'s portfolio, making the stock its 18th largest position. Ranger Investment Management L.P. owned about 0.24% of Saia at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Saia by 6.6% in the 2nd quarter. BlackRock Inc. now owns 2,545,731 shares of the transportation company's stock worth $1,072,160,000 after acquiring an additional 156,628 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Saia by 2.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,798,841 shares of the transportation company's stock worth $587,358,000 after purchasing an additional 43,690 shares during the last quarter. Viking Global Investors LP boosted its position in Saia by 67.2% during the third quarter. Viking Global Investors LP now owns 1,383,888 shares of the transportation company's stock worth $414,281,000 after purchasing an additional 556,229 shares in the last quarter. Invesco Ltd. boosted its position in Saia by 31.7% during the fourth quarter. Invesco Ltd. now owns 923,912 shares of the transportation company's stock worth $301,676,000 after purchasing an additional 222,494 shares in the last quarter. Finally, Wasatch Advisors LP grew its holdings in Saia by 25.3% in the second quarter. Wasatch Advisors LP now owns 825,687 shares of the transportation company's stock valued at $226,230,000 after purchasing an additional 166,486 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Citigroup dropped their price target on Saia from $488.00 to $423.00 and set a "buy" rating for the company in a research report on Tuesday, August 4th. Wells Fargo & Company lowered their price objective on shares of Saia from $490.00 to $400.00 and set an "equal weight" rating on the stock in a research note on Friday, July 31st. Susquehanna raised their target price on shares of Saia from $465.00 to $470.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Benchmark restated a "buy" rating on shares of Saia in a research report on Wednesday, June 3rd. Finally, BMO Capital Markets lifted their target price on shares of Saia from $450.00 to $470.00 and gave the stock a "market perform" rating in a research report on Thursday, June 4th. Thirteen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Saia presently has a consensus rating of "Moderate Buy" and an average target price of $449.67.

Saia Price Performance

NASDAQ:SAIA opened at $362.15 on Monday. The firm has a market cap of $9.66 billion, a price-to-earnings ratio of 34.96, a price-to-earnings-growth ratio of 1.63 and a beta of 2.14. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.04. The company's 50-day moving average is $405.76 and its two-hundred day moving average is $407.62. Saia, Inc. has a 12-month low of $249.32 and a 12-month high of $494.71.

Saia (NASDAQ:SAIA - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, topping analysts' consensus estimates of $3.38 by $0.13. The business 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 quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.67 earnings per share. Research analysts expect that Saia, Inc. will post 11.44 EPS for the current 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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