The Manufacturers Life Insurance Company Buys 74,007 Shares of Saia, Inc. $SAIA

Key Points

• The Manufacturers Life Insurance Company increased its holding in Saia, Inc. by 354.9% during the first quarter, acquiring an additional 74,007 shares to own approximately 0.36% of the company worth $33.1 million.
• Saia's earnings report revealed $2.67 EPS, exceeding estimates, but its revenue of $817.12 million fell short of expectations of $826.59 million.
• Analysts have recently upgraded Saia's stock ratings, with Goldman Sachs boosting the target price from $387 to $410 and an overall consensus rating of "Moderate Buy" with a target price of $347.16.

The Manufacturers Life Insurance Company lifted its position in Saia, Inc. (NASDAQ:SAIA - Free Report) by 354.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,860 shares of the transportation company's stock after purchasing an additional 74,007 shares during the quarter. The Manufacturers Life Insurance Company owned 0.36% of Saia worth $33,147,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Interval Partners LP acquired a new stake in shares of Saia during the 4th quarter worth about $89,229,000. Driehaus Capital Management LLC raised its holdings in Saia by 9.0% during the 4th quarter. Driehaus Capital Management LLC now owns 75,726 shares of the transportation company's stock worth $34,511,000 after purchasing an additional 6,274 shares during the last quarter. Hunter Associates Investment Management LLC boosted its stake in Saia by 55.6% in the first quarter. Hunter Associates Investment Management LLC now owns 11,030 shares of the transportation company's stock valued at $3,832,000 after acquiring an additional 3,940 shares during the last quarter. Running Oak Capital LLC grew its stake in shares of Saia by 28.1% during the first quarter. Running Oak Capital LLC now owns 38,760 shares of the transportation company's stock worth $13,544,000 after purchasing an additional 8,501 shares during the period. Finally, Blueshift Asset Management LLC bought a new stake in shares of Saia in the 1st quarter valued at about $483,000.

Saia Stock Up 5.4%

Shares of NASDAQ SAIA traded up $15.95 during mid-day trading on Friday, hitting $313.15. The company had a trading volume of 752,293 shares, compared to its average volume of 646,661. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.13. The firm has a 50-day simple moving average of $298.13 and a two-hundred day simple moving average of $311.75. The company has a market capitalization of $8.34 billion, a PE ratio of 28.92, a price-to-earnings-growth ratio of 13.33 and a beta of 2.00. Saia, Inc. has a one year low of $229.12 and a one year high of $624.55.

Saia (NASDAQ:SAIA - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The transportation company reported $2.67 EPS for the quarter, beating the consensus estimate of $2.39 by $0.28. The firm had revenue of $817.12 million during 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 quarterly revenue was down .7% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.83 earnings per share. On average, equities analysts expect that Saia, Inc. will post 15.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SAIA. JPMorgan Chase & Co. boosted their price target on shares of Saia from $295.00 to $380.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Bank of America boosted their target price on Saia from $251.00 to $300.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Citigroup reaffirmed a "buy" rating and set a $393.00 price target (up previously from $350.00) on shares of Saia in a research report on Monday, July 28th. Jefferies Financial Group set a $335.00 price objective on Saia and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Wells Fargo & Company boosted their price objective on Saia from $290.00 to $365.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, Saia presently has a consensus rating of "Moderate Buy" and an average target price of $347.16.

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.