Graham Capital Management L.P. Sells 1,450 Shares of Saia, Inc. $SAIA

Key Points

• Graham Capital Management L.P. has reduced its position in Saia, Inc. by 43.9%, now holding 1,850 shares worth $646,000 after selling 1,450 shares in the first quarter.
• Saia reported quarterly earnings of $2.67 per share, surpassing analyst estimates of $2.39, though revenue of $817.12 million fell short of the expected $826.59 million.
• Several brokerages have upgraded Saia's ratings recently, with Zacks upgrading the stock to "hold" and Wells Fargo setting a new price target of $365.00.

Graham Capital Management L.P. lessened its holdings in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 43.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,850 shares of the transportation company's stock after selling 1,450 shares during the quarter. Graham Capital Management L.P.'s holdings in Saia were worth $646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its stake in shares of Saia by 11.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,831,614 shares of the transportation company's stock valued at $989,452,000 after purchasing an additional 288,746 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Saia by 35.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,206,837 shares of the transportation company's stock worth $421,705,000 after buying an additional 315,514 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Saia by 15.0% in the 1st quarter. Ameriprise Financial Inc. now owns 409,303 shares of the transportation company's stock worth $143,028,000 after acquiring an additional 53,374 shares during the period. Westfield Capital Management Co. LP lifted its stake in shares of Saia by 9.9% in the 1st quarter. Westfield Capital Management Co. LP now owns 373,503 shares of the transportation company's stock worth $130,513,000 after acquiring an additional 33,719 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Saia by 22.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 342,363 shares of the transportation company's stock valued at $119,632,000 after acquiring an additional 63,861 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SAIA. Wall Street Zen upgraded Saia to a "sell" rating in a research report on Tuesday, May 13th. Stifel Nicolaus restated a "hold" rating and issued a $306.00 price objective (up previously from $277.00) on shares of Saia in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their target price on Saia from $295.00 to $380.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. Susquehanna upgraded shares of Saia from a "neutral" rating to a "positive" rating and boosted their price target for the stock from $340.00 to $360.00 in a research report on Wednesday. Finally, Wolfe Research raised shares of Saia from a "hold" rating to a "strong-buy" rating in a report on Sunday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat, Saia has a consensus rating of "Moderate Buy" and a consensus price target of $347.16.

Saia Trading Up 0.1%

Shares of NASDAQ:SAIA traded up $0.16 during mid-day trading on Wednesday, hitting $306.40. The stock had a trading volume of 252,474 shares, compared to its average volume of 642,972. Saia, Inc. has a 12-month low of $229.12 and a 12-month high of $624.55. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.49 and a current ratio of 1.49. The company has a market cap of $8.16 billion, a PE ratio of 28.29, a P/E/G ratio of 14.29 and a beta of 2.00. The company's 50 day moving average is $300.02 and its 200-day moving average is $307.59.

Saia (NASDAQ:SAIA - Get Free Report) last released its earnings results on Friday, July 25th. The transportation company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.39 by $0.28. The company 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 business's revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.83 EPS. On average, sell-side analysts predict 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.