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Raymond James Financial Inc. Grows Position in Saia, Inc. $SAIA

Saia logo with Transportation background

Key Points

  • Raymond James Financial Inc. increased its stake in Saia, Inc. by 1.6%, owning 103,650 shares worth approximately $36.2 million as of the end of the first quarter.
  • Saia reported earnings of $2.67 per share, surpassing analysts' estimates by $0.28, although its revenue declined by 0.7% compared to the previous year.
  • Analysts have a generally positive outlook on Saia, with a consensus price target of $347.16 and multiple firms issuing "buy" ratings.
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Raymond James Financial Inc. grew its stake in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 103,650 shares of the transportation company's stock after buying an additional 1,586 shares during the period. Raymond James Financial Inc. owned 0.39% of Saia worth $36,218,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Golden State Wealth Management LLC increased its position in Saia by 127.0% during the first quarter. Golden State Wealth Management LLC now owns 84 shares of the transportation company's stock worth $29,000 after buying an additional 47 shares in the last quarter. NBC Securities Inc. purchased a new position in Saia during the first quarter worth $43,000. Group One Trading LLC increased its position in Saia by 114.4% during the fourth quarter. Group One Trading LLC now owns 243 shares of the transportation company's stock worth $111,000 after buying an additional 1,934 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in Saia during the first quarter worth $135,000. Finally, GAMMA Investing LLC increased its position in Saia by 20.2% during the first quarter. GAMMA Investing LLC now owns 441 shares of the transportation company's stock worth $154,000 after buying an additional 74 shares in the last quarter.

Saia Price Performance

Shares of Saia stock opened at $320.27 on Friday. Saia, Inc. has a twelve month low of $229.12 and a twelve month high of $624.55. The stock has a market capitalization of $8.53 billion, a P/E ratio of 29.57, a PEG ratio of 14.77 and a beta of 1.99. 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 business's fifty day moving average price is $292.25 and its 200 day moving average price is $322.49.

Saia (NASDAQ:SAIA - Get Free Report) last issued its 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 firm had revenue of $817.12 million for the quarter, compared to analysts' expectations of $826.59 million. During the same quarter last year, the firm earned $3.83 earnings per share. The firm's revenue for the quarter was down .7% compared to the same quarter last year. As a group, research analysts anticipate that Saia, Inc. will post 15.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SAIA has been the subject of a number of recent analyst reports. Citigroup reaffirmed a "buy" rating and issued a $393.00 price objective (up previously from $350.00) on shares of Saia in a research report on Monday, July 28th. Benchmark lifted their price objective on Saia from $325.00 to $360.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Jefferies Financial Group set a $335.00 price objective on Saia and gave the company a "buy" rating in a research report on Tuesday, June 10th. Bank of America lifted their price objective on Saia from $251.00 to $300.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Stephens lifted their price objective on Saia from $274.00 to $300.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $347.16.

Get Our Latest Research Report on Saia

About Saia

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding SAIA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Saia, Inc. (NASDAQ:SAIA - Free Report).

Institutional Ownership by Quarter for Saia (NASDAQ:SAIA)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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