Saia, Inc. $SAIA Stock: Assenagon Asset Management S.A. Lowers Stake

Key Points

• Assenagon Asset Management cut its Saia stake by 13.2% in the third quarter, selling 5,284 shares and retaining 34,863 shares valued at approximately $11.6 million.
• Saia shares were trading at $331, down 1.2%, with the stock substantially below its 52-week high of $494.71. The company reported quarterly EPS of $3.51, exceeding analysts’ $3.38 estimate, while revenue rose 17.1% year over year.
• Wall Street’s consensus remains favorable, with 14 Buy ratings, six Holds, and one Sell rating; the average price target is $437.58, implying significant upside from the trading price.

Assenagon Asset Management S.A. lessened its position in Saia, Inc. (NASDAQ:SAIA - Free Report) by 13.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,863 shares of the transportation company's stock after selling 5,284 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.13% of Saia worth $11,635,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SAIA. Azimuth Capital Investment Management LLC bought a new stake in shares of Saia during the 2nd quarter worth about $9,789,000. Montag A & Associates Inc. bought a new position in Saia in the first quarter valued at approximately $1,505,000. Marks Group Wealth Management Inc grew its holdings in shares of Saia by 32.9% during the 1st quarter. Marks Group Wealth Management Inc now owns 19,040 shares of the transportation company's stock valued at $6,688,000 after purchasing an additional 4,717 shares during the last quarter. California State Teachers Retirement System boosted its position in Saia by 23.1% during the 1st quarter. California State Teachers Retirement System now owns 30,917 shares of the transportation company's stock worth $10,861,000 after buying an additional 5,810 shares during the period. Finally, State Street Corp grew its position in shares of Saia by 3.4% in the 2nd quarter. State Street Corp now owns 854,398 shares of the transportation company's stock valued at $359,862,000 after buying an additional 28,397 shares during the last quarter.

Saia Trading Down 1.2%

NASDAQ:SAIA opened at $331.00 on Tuesday. 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 firm has a market capitalization of $8.83 billion, a P/E ratio of 33.67, a PEG ratio of 2.70 and a beta of 2.19. The company's 50-day simple moving average is $347.79 and its 200 day simple moving average is $399.78. Saia, Inc. has a one year low of $249.32 and a one year high of $494.71.

Saia (NASDAQ:SAIA - Get Free Report) last released its quarterly earnings data 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. The business had revenue of $956.49 million for the quarter, compared to analysts' expectations of $956.20 million. Saia had a return on equity of 10.21% and a net margin of 8.19%. The firm's quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.67 EPS. As a group, analysts forecast that Saia, Inc. will post 11.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SAIA shares. Bank of America reiterated a "buy" rating on shares of Saia in a report on Friday, September 4th. Stifel Nicolaus lowered their target price on Saia from $438.00 to $423.00 and set a "buy" rating on the stock in a research note on Thursday, October 8th. Evercore raised shares of Saia from an "in-line" rating to an "outperform" rating in a research note on Wednesday, July 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Saia in a research report on Monday, August 3rd. Finally, Citigroup reiterated a "cautious" rating on shares of Saia in a report on Wednesday, October 7th. Fourteen 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. Based on data from MarketBeat, Saia currently has an average rating of "Moderate Buy" and an average price target of $437.58.

Saia Profile

Saia, Inc is a transportation and logistics company headquartered in Johns Creek, Georgia. Through its primary subsidiary, Saia LTL Freight, the company provides less-than-truckload transportation, moving palletized and other freight shipments that do not require a full trailer. Its services include standard and time-definite delivery, expedited transportation, guaranteed services, and shipment tracking.

Saia also provides non-asset-based logistics services through Saia Logistics Services, which helps customers arrange freight transportation using third-party carriers.

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