State Street Corp Has $359.86 Million Position in Saia, Inc. $SAIA

Key Points

• State Street increased its Saia stake by 3.4% in the second quarter, owning 854,398 shares worth approximately $359.9 million, or 3.2% of the company.
• Saia reported quarterly EPS of $3.51, beating estimates of $3.38, while revenue rose 17.1% year over year to $956.5 million.
• Shares were trading at $343.85, down 1.3%, while analysts maintained a “Moderate Buy” consensus with an average price target of $448.37.

State Street Corp raised its holdings in Saia, Inc. (NASDAQ:SAIA - Free Report) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 854,398 shares of the transportation company's stock after acquiring an additional 28,397 shares during the quarter. State Street Corp owned about 3.20% of Saia worth $359,862,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Danske Bank A S bought a new position in shares of Saia in the 2nd quarter worth $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Saia in the second quarter valued at about $27,000. Meeder Asset Management Inc. increased its holdings 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 purchasing an additional 54 shares during the last quarter. Larson Financial Group LLC lifted its stake in Saia by 1,612.5% in the fourth quarter. Larson Financial Group LLC now owns 137 shares of the transportation company's stock valued at $45,000 after buying an additional 129 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Saia in the second quarter valued at about $64,000.

Saia Trading Down 1.3%

NASDAQ:SAIA opened at $343.85 on Thursday. Saia, Inc. has a fifty-two week low of $249.32 and a fifty-two week high of $494.71. 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 stock has a market capitalization of $9.17 billion, a PE ratio of 33.19, a price-to-earnings-growth ratio of 2.81 and a beta of 2.14. The business's 50-day simple moving average is $368.60 and its 200-day simple moving average is $399.61.

Saia (NASDAQ:SAIA - Get Free Report) last posted its earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.38 by $0.13. Saia had a return on equity of 10.21% and a net margin of 8.19%.The business had revenue of $956.49 million during the quarter, compared to analysts' expectations of $956.20 million. During the same period in the prior year, the business earned $2.67 EPS. Saia's revenue for the quarter was up 17.1% compared to the same quarter last year. Sell-side analysts expect that Saia, Inc. will post 11.43 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SAIA shares. Raymond James Financial decreased their target price on Saia from $477.00 to $475.00 and set an "outperform" rating for the company in a research report on Monday, July 13th. Stephens cut their price target on shares of Saia from $520.00 to $490.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. UBS Group reduced their price objective on shares of Saia from $527.00 to $504.00 and set a "buy" rating on the stock in a research note on Friday, July 31st. Stifel Nicolaus upgraded shares of Saia from a "hold" rating to a "buy" rating and set a $438.00 price objective for the company in a report on Friday, July 31st. Finally, BMO Capital Markets boosted their price objective on shares of Saia from $450.00 to $470.00 and gave the company a "market perform" rating in a report on Thursday, June 4th. Fourteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $448.37.

Saia Company Profile

Saia, Inc is a transportation and logistics company headquartered in Johns Creek, Georgia. Its principal operating subsidiary, Saia LTL Freight, provides less-than-truckload transportation, moving shipments from multiple customers in a single trailer. The company serves businesses across the contiguous United States and offers regional, interregional and long-distance freight services.

Saia's services include standard and expedited LTL shipping, guaranteed delivery options, volume and truckload solutions, and specialized transportation for certain freight needs.

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