Renaissance Technologies LLC Buys 43,840 Shares of Saia, Inc. $SAIA

Key Points

• Renaissance Technologies increased its Saia stake by 194.5% in the first quarter, buying 43,840 additional shares to own 66,378 shares valued at approximately $23.3 million.
• Analysts remain broadly positive on Saia, with a consensus rating of “Moderate Buy” and an average price target of $462.72; JPMorgan, Wells Fargo, and Barclays recently raised their targets.
• Saia’s latest quarterly results exceeded expectations, reporting $1.86 in EPS versus $1.82 expected and $806.23 million in revenue versus $789.08 million estimated. Revenue increased 2.4% year over year.

Renaissance Technologies LLC lifted its stake in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 194.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,378 shares of the transportation company's stock after purchasing an additional 43,840 shares during the period. Renaissance Technologies LLC owned approximately 0.25% of Saia worth $23,317,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Militia Capital Management LLC bought a new position in Saia in the 1st quarter worth approximately $2,129,000. First Trust Advisors LP boosted its position in Saia by 8.6% in the 1st quarter. First Trust Advisors LP now owns 804,284 shares of the transportation company's stock valued at $282,529,000 after buying an additional 63,486 shares during the last quarter. Parallel Advisors LLC boosted its position in Saia by 11.4% in the 1st quarter. Parallel Advisors LLC now owns 627 shares of the transportation company's stock valued at $220,000 after buying an additional 64 shares during the last quarter. KBC Group NV increased its stake in shares of Saia by 12.8% in the 1st quarter. KBC Group NV now owns 844 shares of the transportation company's stock valued at $296,000 after buying an additional 96 shares during the period. Finally, California Public Employees Retirement System raised its position in shares of Saia by 5.9% during the first quarter. California Public Employees Retirement System now owns 36,577 shares of the transportation company's stock worth $12,849,000 after acquiring an additional 2,033 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SAIA shares. JPMorgan Chase & Co. raised their price target on Saia from $465.00 to $490.00 and gave the company an "overweight" rating in a report on Monday, June 8th. Weiss Ratings raised Saia from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, May 6th. Wall Street Zen upgraded shares of Saia from a "sell" rating to a "hold" rating in a research report on Monday, May 4th. Wells Fargo & Company lifted their price target on shares of Saia from $445.00 to $490.00 and gave the stock an "equal weight" rating in a research report on Friday, June 5th. Finally, Barclays boosted their price target on shares of Saia from $400.00 to $500.00 and gave the stock an "overweight" rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Saia presently has an average rating of "Moderate Buy" and a consensus target price of $462.72.

Saia Stock Performance

Shares of Saia stock opened at $394.44 on Thursday. The company has a market capitalization of $10.52 billion, a PE ratio of 41.43, a PEG ratio of 1.92 and a beta of 2.13. Saia, Inc. has a 12 month low of $249.32 and a 12 month high of $494.71. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04. The stock's fifty day simple moving average is $441.98 and its 200 day simple moving average is $406.34.

Saia (NASDAQ:SAIA - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.04. The business had revenue of $806.23 million during the quarter, compared to analyst estimates of $789.08 million. Saia had a return on equity of 9.60% and a net margin of 7.84%.Saia's quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.86 EPS. On average, research analysts predict that Saia, Inc. will post 11.46 EPS for the current year.

Saia Company 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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