Jennison Associates LLC Lowers Stock Position in Saia, Inc. (NASDAQ:SAIA)

Jennison Associates LLC trimmed its holdings in Saia, Inc. (NASDAQ:SAIA - Free Report) by 15.1% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 108,601 shares of the transportation company's stock after selling 19,295 shares during the period. Jennison Associates LLC owned 0.41% of Saia worth $37,948,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. HighTower Advisors LLC lifted its position in shares of Saia by 2.3% in the 4th quarter. HighTower Advisors LLC now owns 3,462 shares of the transportation company's stock worth $1,578,000 after buying an additional 77 shares during the last quarter. Avantax Advisory Services Inc. grew its stake in shares of Saia by 4.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 678 shares of the transportation company's stock worth $309,000 after purchasing an additional 30 shares during the last quarter. Madison Investment Advisors LLC purchased a new position in shares of Saia in the fourth quarter worth approximately $3,451,000. Commonwealth Equity Services LLC lifted its stake in Saia by 4.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 2,614 shares of the transportation company's stock valued at $1,191,000 after acquiring an additional 109 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. lifted its stake in Saia by 5.1% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 3,488 shares of the transportation company's stock valued at $1,590,000 after acquiring an additional 169 shares during the last quarter.

Wall Street Analysts Forecast Growth

SAIA has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised Saia from a "neutral" rating to a "buy" rating and upped their price target for the company from $387.00 to $410.00 in a research note on Monday, June 2nd. Raymond James Financial set a $310.00 price objective on Saia and gave the company an "outperform" rating in a report on Monday, April 28th. Stephens cut shares of Saia from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $515.00 to $255.00 in a report on Tuesday, April 29th. Deutsche Bank Aktiengesellschaft downgraded Saia from a "buy" rating to a "hold" rating and set a $273.00 price target for the company. in a research note on Thursday, May 1st. Finally, Wells Fargo & Company lifted their target price on Saia from $260.00 to $290.00 and gave the company an "equal weight" rating in a research report on Monday, July 7th. One analyst has rated the stock with a sell rating, nine have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $338.26.

Saia Price Performance

Shares of SAIA traded up $15.20 during trading hours on Tuesday, reaching $303.00. 282,528 shares of the company's stock traded hands, compared to its average volume of 532,511. The stock has a market cap of $8.07 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 9.94 and a beta of 1.98. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.12. The firm's 50 day simple moving average is $275.68 and its 200-day simple moving average is $352.50. 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 released its earnings results on Friday, April 25th. The transportation company reported $1.86 earnings per share for the quarter, missing analysts' consensus estimates of $2.77 by ($0.91). Saia had a return on equity of 14.21% and a net margin of 9.91%. The firm had revenue of $787.58 million during the quarter, compared to the consensus estimate of $806.18 million. During the same quarter in the previous year, the firm earned $3.38 EPS. The business's quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts expect that Saia, Inc. will post 15.46 EPS for the current year.

Saia Company Profile

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.