The Manufacturers Life Insurance Company Takes $7.92 Million Position in Saia, Inc. $SAIA

Key Points

• The Manufacturers Life Insurance Company acquired 18,798 Saia shares worth approximately $7.92 million, representing about 0.07% of the transportation company.
• Analysts maintain a generally positive outlook, with 13 Buy ratings, six Holds, and one Sell; the stock has a consensus rating of “Moderate Buy” and an average price target of $449.67.
• Saia exceeded quarterly earnings expectations, reporting $3.51 in EPS and $956.49 million in revenue, with revenue rising 17.1% year over year.

The Manufacturers Life Insurance Company purchased a new position in Saia, Inc. (NASDAQ:SAIA - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 18,798 shares of the transportation company's stock, valued at approximately $7,917,000. The Manufacturers Life Insurance Company owned about 0.07% of Saia at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SAIA. Danske Bank A S bought a new position in Saia during the 2nd quarter worth $25,000. Caitong International Asset Management Co. Ltd bought a new stake in Saia in the second quarter valued at $27,000. Quarry LP boosted its holdings in shares of Saia by 8,400.0% during the fourth quarter. Quarry LP now owns 85 shares of the transportation company's stock valued at $28,000 after acquiring an additional 84 shares during the period. Meeder Asset Management Inc. boosted its holdings in shares of Saia by 360.0% during the second quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company's stock valued at $29,000 after acquiring an additional 54 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in shares of Saia during the fourth quarter worth about $36,000.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SAIA. Wall Street Zen raised shares of Saia from a "sell" rating to a "hold" rating in a report on Monday, May 4th. Bank of America upgraded shares of Saia from a "neutral" rating to a "buy" rating and upped their target price for the stock from $499.00 to $502.00 in a research report on Monday, July 13th. Stephens dropped their price target on shares of Saia from $520.00 to $490.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. Benchmark reaffirmed a "buy" rating on shares of Saia in a report on Wednesday, June 3rd. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $476.00 price objective on shares of Saia in a research report on Thursday, July 30th. Thirteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $449.67.

Saia Stock Performance

NASDAQ:SAIA opened at $352.25 on Monday. The company has a 50-day moving average of $396.18 and a 200-day moving average of $405.78. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.04. Saia, Inc. has a twelve month low of $249.32 and a twelve month high of $494.71.

Saia (NASDAQ:SAIA - Get Free Report) last released its earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, topping analysts' consensus estimates of $3.38 by $0.13. Saia had a net margin of 8.19% and a return on equity of 10.21%. The business had revenue of $956.49 million for the quarter, compared to the consensus estimate of $956.20 million. During the same period in the previous year, the firm earned $2.67 EPS. The business's revenue for the quarter was up 17.1% on a year-over-year basis. Analysts forecast that Saia, Inc. will post 11.44 earnings per share for the current fiscal year.

About Saia

Saia, Inc is a publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America. Headquartered in Johns Creek, Georgia, the company focuses on the efficient movement of time-sensitive freight for a diverse customer base that spans retail, manufacturing, automotive, and healthcare industries. By leveraging a network of terminals and service centers, Saia provides tailored solutions designed to optimize supply chain performance.

The company's core offerings include regional, interregional, and national LTL shipping, supported by volumetric LTL and port intermodal services.

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