Royce & Associates LP Acquires 81,480 Shares of Saia, Inc. $SAIA

Key Points

• Royce & Associates increased its Saia holdings by 202.8% in the third quarter, adding 81,480 shares to own 121,658 shares valued at about $40.6 million.
• Saia beat quarterly estimates, reporting EPS of $3.41 versus $3.30 expected and revenue of $982.45 million, up 17% year over year.
• Shares rose 3.4% to $342.29; analysts’ consensus rating is Moderate Buy, with an average price target of $432.26.

Royce & Associates LP lifted its holdings in Saia, Inc. (NASDAQ:SAIA - Free Report) by 202.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 121,658 shares of the transportation company's stock after purchasing an additional 81,480 shares during the period. Royce & Associates LP owned about 0.46% of Saia worth $40,602,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SAIA. BlackRock Inc. boosted its stake in shares of Saia by 6.6% during the second quarter. BlackRock Inc. now owns 2,545,731 shares of the transportation company's stock valued at $1,072,160,000 after purchasing an additional 156,628 shares in the last quarter. State Street Corp raised its stake in Saia by 3.4% in the second quarter. State Street Corp now owns 854,398 shares of the transportation company's stock worth $359,862,000 after buying an additional 28,397 shares in the last quarter. First Trust Advisors LP raised its stake in Saia by 8.6% in the first quarter. First Trust Advisors LP now owns 804,284 shares of the transportation company's stock worth $282,529,000 after buying an additional 63,486 shares in the last quarter. Jupiter Topco LLC bought a new position in Saia in the second quarter worth approximately $140,979,000. Finally, William Blair Investment Management LLC purchased a new stake in Saia during the second quarter worth $109,089,000.

Saia Stock Up 3.4%

SAIA traded up $11.33 during trading on Friday, hitting $342.29. The stock had a trading volume of 248,192 shares, compared to its average volume of 400,209. The company has a market capitalization of $9.13 billion, a PE ratio of 32.44, a PEG ratio of 2.51 and a beta of 2.09. Saia, Inc. has a twelve month low of $249.32 and a twelve month high of $494.71. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.83 and a current ratio of 1.83. The stock has a 50 day simple moving average of $341.15 and a two-hundred day simple moving average of $387.00.

Saia (NASDAQ:SAIA - Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The transportation company reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.30 by $0.11. The business had revenue of $982.45 million for the quarter, compared to analyst estimates of $966.98 million. Saia had a net margin of 8.01% and a return on equity of 10.53%. The business's revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.81 earnings per share. On average, research analysts predict that Saia, Inc. will post 11.51 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SAIA shares. Susquehanna dropped their target price on Saia from $412.00 to $360.00 and set a "neutral" rating on the stock in a research report on Friday, October 2nd. Raymond James Financial reissued an "outperform" rating and issued a $410.00 price target on shares of Saia in a research report on Thursday, October 15th. The Goldman Sachs Group restated a "buy" rating and set a $476.00 price objective on shares of Saia in a research note on Thursday, July 30th. Bank of America reaffirmed a "buy" rating on shares of Saia in a research report on Friday, September 4th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Saia in a research note on Friday, October 30th. Fourteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $432.26.

Saia Company Profile

Saia, Inc. is a transportation company best known for its less-than-truckload (LTL) freight services, which combine shipments from multiple customers in a single truck. Its offerings include regional and interregional freight transportation, expedited and guaranteed services, and logistics solutions. Founded in 1924 in Houma, Louisiana, Saia has grown from a regional carrier into a network serving the contiguous United States. The company is headquartered in Johns Creek, Georgia, and also arranges service to Canada and Mexico through its transportation network and partners.

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