Saia, Inc. $SAIA Stock Position Raised by ZWJ Investment Counsel Inc.

Key Points

• ZWJ Investment Counsel increased its Saia stake by 8.6% in the third quarter, acquiring 8,884 additional shares and ending the period with 112,289 shares worth approximately $37.5 million.
• Saia reported quarterly EPS of $3.51, beating estimates of $3.38, while revenue reached $956.49 million and rose 17.1% year over year.
• Shares opened at $334.69, below the analyst consensus price target of $441.00. Analysts maintain a “Moderate Buy” consensus, though several firms recently lowered their price targets.

ZWJ Investment Counsel Inc. increased its stake in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 8.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,289 shares of the transportation company's stock after buying an additional 8,884 shares during the quarter. ZWJ Investment Counsel Inc. owned about 0.42% of Saia worth $37,475,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SAIA. Danske Bank A S purchased a new stake in shares of Saia in the second quarter valued at about $25,000. Caitong International Asset Management Co. Ltd acquired a new stake in Saia during the second quarter worth about $27,000. Meeder Asset Management Inc. raised its stake in Saia by 360.0% during the second quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company's stock worth $29,000 after purchasing an additional 54 shares during the period. Quantbot Technologies LP purchased a new position in Saia during the second quarter worth about $64,000. Finally, Versant Capital Management Inc raised its stake in Saia by 65.6% during the second quarter. Versant Capital Management Inc now owns 154 shares of the transportation company's stock worth $65,000 after purchasing an additional 61 shares during the period.

Saia Trading Down 0.0%

Shares of NASDAQ SAIA opened at $334.69 on Thursday. Saia, Inc. has a twelve month low of $249.32 and a twelve month high of $494.71. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $349.28 and a 200-day simple moving average of $399.88. The stock has a market capitalization of $8.93 billion, a PE ratio of 33.65, a PEG ratio of 2.70 and a beta of 2.19.

Saia (NASDAQ:SAIA - Get Free Report) last announced its earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, beating analysts' consensus estimates of $3.38 by $0.13. The company had revenue of $956.49 million during 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%. Saia's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the business posted $2.67 EPS. On average, equities analysts forecast that Saia, Inc. will post 11.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on SAIA shares. TD Cowen decreased their target price on shares of Saia from $445.00 to $400.00 and set a "hold" rating on the stock in a report on Friday, July 31st. The Goldman Sachs Group reiterated a "buy" rating and issued a $476.00 price objective on shares of Saia in a report on Thursday, July 30th. Citigroup reiterated a "cautious" rating on shares of Saia in a report on Wednesday, October 7th. Wells Fargo & Company cut their price objective on Saia from $490.00 to $400.00 and set an "equal weight" rating for the company in a research report on Friday, July 31st. Finally, Sanford C. Bernstein started coverage on shares of Saia in a report on Thursday, September 10th. They issued an "outperform" rating and a $439.00 price objective on the stock. Fourteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $441.00.

About Saia

Saia, Inc is a transportation and logistics company headquartered in Johns Creek, Georgia. Its primary business is less-than-truckload (LTL) freight transportation, serving shippers whose shipments do not require a full truck. Through its Saia LTL Freight subsidiary, the company provides regional and interregional freight services, including standard, expedited and time-definite delivery options.

Saia also provides third-party logistics services through Saia Logistics Services. These offerings can include the coordination of truckload, LTL, intermodal and other transportation solutions, allowing customers to manage a broader range of shipping needs through one provider.

The company traces its history to 1924, when it began operations in Louisiana.

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