Kayne Anderson Rudnick Investment Management LLC Raises Position in Saia, Inc. $SAIA

Key Points

• Kayne Anderson Rudnick Investment Management LLC increased its stake in Saia, Inc. by 35.4%, acquiring an additional 315,514 shares during the first quarter, leading to ownership of approximately 4.53% of the company valued at $421.7 million.
• Analysts have given Saia, Inc. a consensus rating of "Moderate Buy" with a target price averaging $347.16, with nine "Buy" ratings and one "Strong Buy" rating.
• In its most recent quarterly earnings report, Saia, Inc. announced an EPS of $2.67, exceeding estimates, although revenue was slightly below forecasts at $817.12 million.

Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Saia, Inc. (NASDAQ:SAIA - Free Report) by 35.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,206,837 shares of the transportation company's stock after acquiring an additional 315,514 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 4.53% of Saia worth $421,705,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Heritage Family Offices LLP raised its stake in shares of Saia by 4.1% during the 1st quarter. Heritage Family Offices LLP now owns 741 shares of the transportation company's stock valued at $259,000 after purchasing an additional 29 shares during the period. Golden State Wealth Management LLC raised its stake in shares of Saia by 127.0% during the 1st quarter. Golden State Wealth Management LLC now owns 84 shares of the transportation company's stock valued at $29,000 after purchasing an additional 47 shares during the period. Cresset Asset Management LLC raised its stake in shares of Saia by 3.8% during the 1st quarter. Cresset Asset Management LLC now owns 1,268 shares of the transportation company's stock valued at $443,000 after purchasing an additional 47 shares during the period. Portside Wealth Group LLC raised its stake in shares of Saia by 4.6% during the 1st quarter. Portside Wealth Group LLC now owns 1,206 shares of the transportation company's stock valued at $421,000 after purchasing an additional 53 shares during the period. Finally, Rehmann Capital Advisory Group raised its stake in shares of Saia by 11.4% during the 4th quarter. Rehmann Capital Advisory Group now owns 536 shares of the transportation company's stock valued at $244,000 after purchasing an additional 55 shares during the period.

Saia Trading Down 3.4%

Shares of NASDAQ:SAIA traded down $10.43 on Thursday, reaching $292.36. 748,831 shares of the company traded hands, compared to its average volume of 649,519. The business's 50-day simple moving average is $294.87 and its 200 day simple moving average is $319.72. Saia, Inc. has a 52 week low of $229.12 and a 52 week high of $624.55. The stock has a market capitalization of $7.79 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 14.19 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.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The transportation company reported $2.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.39 by $0.28. The firm had revenue of $817.12 million for the quarter, compared to analysts' expectations of $826.59 million. Saia had a return on equity of 12.42% and a net margin of 8.96%.The company's revenue for the quarter was down .7% compared to the same quarter last year. During the same period last year, the firm earned $3.83 earnings per share. As a group, equities analysts anticipate that Saia, Inc. will post 15.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SAIA. Jefferies Financial Group set a $335.00 price objective on Saia and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Wells Fargo & Company increased their target price on Saia from $290.00 to $365.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. Benchmark increased their target price on Saia from $325.00 to $360.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Bank of America increased their target price on Saia from $251.00 to $300.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Wolfe Research raised Saia from a "hold" rating to a "strong-buy" rating in a research note on Sunday, June 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, Saia currently has a consensus rating of "Moderate Buy" and a consensus target price of $347.16.

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.