Royal Bank of Canada Has $17.83 Million Stock Position in Saia, Inc. $SAIA

Key Points

• Royal Bank of Canada reduced its stake in Saia, Inc. by 21.7% during the first quarter, now holding 51,017 shares valued at approximately $17.8 million.
• Several institutional investors increased their positions in Saia, including Price T Rowe Associates, which boosted its holdings by 11.4% to over $989 million.
• Saia reported a quarterly earnings per share (EPS) of $2.67, exceeding expectations, although its revenue saw a 0.7% decrease year-over-year.

Royal Bank of Canada reduced its holdings in Saia, Inc. (NASDAQ:SAIA - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 51,017 shares of the transportation company's stock after selling 14,108 shares during the quarter. Royal Bank of Canada owned about 0.19% of Saia worth $17,826,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD grew its position in shares of Saia by 11.4% in 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 during the last quarter. Kayne Anderson Rudnick Investment Management LLC grew its position in shares of Saia by 35.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,206,837 shares of the transportation company's stock valued at $421,705,000 after purchasing an additional 315,514 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Saia by 15.0% in the first quarter. Ameriprise Financial Inc. now owns 409,303 shares of the transportation company's stock valued at $143,028,000 after purchasing an additional 53,374 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of Saia by 9.9% in the first quarter. Westfield Capital Management Co. LP now owns 373,503 shares of the transportation company's stock valued at $130,513,000 after purchasing an additional 33,719 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position 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 purchasing an additional 63,861 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Citigroup lowered their price target on Saia from $393.00 to $373.00 and set a "buy" rating on the stock in a research report on Wednesday. Barclays lifted their target price on Saia from $315.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Stifel Nicolaus reissued a "hold" rating and set a $306.00 target price (up from $277.00) on shares of Saia in a research report on Thursday, July 24th. The Goldman Sachs Group raised Saia from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $387.00 to $410.00 in a research report on Monday, June 2nd. Finally, Bank of America lifted their target price on Saia from $251.00 to $300.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, Saia has an average rating of "Moderate Buy" and an average price target of $347.16.

Saia Trading Down 1.0%

SAIA traded down $3.15 during trading on Friday, reaching $312.63. 343,142 shares of the company's stock were exchanged, compared to its average volume of 507,768. The company's fifty day moving average price is $301.06 and its 200-day moving average price is $306.19. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.49 and a current ratio of 1.49. Saia, Inc. has a fifty-two week low of $229.12 and a fifty-two week high of $624.55. The firm has a market capitalization of $8.33 billion, a PE ratio of 28.87, a P/E/G ratio of 14.46 and a beta of 2.00.

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

Saia 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.