Truist Financial Corp Purchases 17,960 Shares of Saia, Inc. $SAIA

Key Points

• Truist Financial Corp significantly increased its holdings in Saia, Inc. by 97.8%, acquiring an additional 17,960 shares, bringing its total ownership to 36,330 shares valued at approximately $9.95 million.
• Saia reported $2.67 EPS for the latest quarter, surpassing expectations despite a 7% revenue decline from the previous year.
• Several analysts have adjusted their price targets for Saia, with a consensus target price now standing at $349.89, reflecting a moderate buy rating from the majority of ratings provided.

Truist Financial Corp lifted its position in Saia, Inc. (NASDAQ:SAIA - Free Report) by 97.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,330 shares of the transportation company's stock after acquiring an additional 17,960 shares during the quarter. Truist Financial Corp owned 0.14% of Saia worth $9,954,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SAIA. Price T Rowe Associates Inc. MD lifted its holdings in Saia by 11.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,831,614 shares of the transportation company's stock valued at $989,452,000 after buying an additional 288,746 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Saia by 17.3% during the 1st quarter. Alliancebernstein L.P. now owns 2,275,661 shares of the transportation company's stock valued at $795,184,000 after buying an additional 336,046 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Saia by 35.4% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,206,837 shares of the transportation company's stock valued at $421,705,000 after buying an additional 315,514 shares in the last quarter. Select Equity Group L.P. lifted its holdings in Saia by 59.6% during the 1st quarter. Select Equity Group L.P. now owns 480,498 shares of the transportation company's stock valued at $167,900,000 after buying an additional 179,444 shares in the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Saia by 12.5% during the 1st quarter. Voya Investment Management LLC now owns 421,172 shares of the transportation company's stock valued at $147,020,000 after buying an additional 46,770 shares in the last quarter.

Saia Stock Up 1.2%

NASDAQ:SAIA opened at $297.42 on Monday. The company has a market cap of $7.92 billion, a PE ratio of 27.46, a P/E/G ratio of 13.59 and a beta of 2.00. Saia, Inc. has a twelve month low of $229.12 and a twelve month high of $624.55. 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 company's 50 day moving average is $302.48 and its two-hundred day moving average is $297.83.

Saia (NASDAQ:SAIA - Get Free Report) last released its earnings results on Friday, July 25th. The transportation company reported $2.67 earnings per share for the quarter, topping the consensus estimate of $2.39 by $0.28. Saia had a net margin of 8.96% and a return on equity of 12.42%. The company had revenue of $817.12 million for the quarter, compared to the consensus estimate of $826.59 million. During the same quarter in the previous year, the firm earned $3.83 EPS. Saia's revenue was down .7% compared to the same quarter last year. Analysts anticipate that Saia, Inc. will post 15.46 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SAIA. Evercore ISI decreased their price objective on shares of Saia from $345.00 to $328.00 and set an "outperform" rating for the company in a report on Tuesday, September 30th. Zacks Research upgraded shares of Saia from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Wolfe Research upgraded shares of Saia from a "hold" rating to a "strong-buy" rating in a report on Sunday, June 8th. Jefferies Financial Group set a $335.00 price target on shares of Saia and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Stephens boosted their price target on shares of Saia from $274.00 to $300.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the company's stock. According to data from MarketBeat.com, Saia presently has a consensus rating of "Moderate Buy" and a consensus target price of $349.89.

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.

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