Saia, Inc. $SAIA Shares Bought by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Saia holdings by 41,005.2% in the second quarter, acquiring 12.68 million additional shares and bringing its stake to approximately 47.65%, valued at $5.35 billion.
• Analysts maintain a generally positive outlook, with 13 Buy, six Hold, and one Sell rating. Saia has a consensus rating of “Moderate Buy” and an average price target of $448.89, although several firms recently lowered their targets.
• Saia exceeded quarterly EPS expectations, reporting $3.51 versus the $3.38 consensus, while revenue rose 17.1% year over year to $956.49 million. Shares opened at $346.55, below their 50-day and 200-day moving averages.

California State Teachers Retirement System lifted its holdings in Saia, Inc. (NASDAQ:SAIA - Free Report) by 41,005.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 12,708,503 shares of the transportation company's stock after buying an additional 12,677,586 shares during the quarter. California State Teachers Retirement System owned approximately 47.65% of Saia worth $5,352,313,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Danske Bank A S acquired a new stake in Saia during the second quarter worth about $25,000. Caitong International Asset Management Co. Ltd bought a new position in Saia in the second quarter worth about $27,000. Quarry LP boosted its stake in Saia by 8,400.0% in the fourth quarter. Quarry LP now owns 85 shares of the transportation company's stock valued at $28,000 after acquiring an additional 84 shares during the period. Meeder Asset Management Inc. boosted its stake in Saia by 360.0% in the second quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company's stock valued at $29,000 after acquiring an additional 54 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Saia during the fourth quarter valued at approximately $36,000.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Saia from $498.00 to $490.00 and set an "overweight" rating on the stock in a research report on Friday, September 4th. UBS Group reduced their price objective on Saia from $527.00 to $504.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Benchmark reaffirmed a "buy" rating on shares of Saia in a research report on Wednesday, June 3rd. Barclays dropped their target price on Saia from $500.00 to $475.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. Finally, TD Cowen cut their target price on Saia from $445.00 to $400.00 and set a "hold" rating on the stock in a research note on Friday, July 31st. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Saia presently has a consensus rating of "Moderate Buy" and a consensus price target of $448.89.

Saia Stock Performance

SAIA opened at $346.55 on Thursday. The business has a 50 day moving average price of $383.32 and a two-hundred day moving average price of $403.60. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 1.58. The company has a market capitalization of $9.24 billion, a price-to-earnings ratio of 33.45, a price-to-earnings-growth ratio of 1.57 and a beta of 2.14. Saia, Inc. has a 1-year low of $249.32 and a 1-year high of $494.71.

Saia (NASDAQ:SAIA - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.13. Saia had a return on equity of 10.21% and a net margin of 8.19%.The company had revenue of $956.49 million for the quarter, compared to analysts' expectations of $956.20 million. During the same period last year, the firm earned $2.67 EPS. The firm's revenue for the quarter was up 17.1% on a year-over-year basis. Research analysts predict that Saia, Inc. will post 11.45 EPS for the current fiscal 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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