Victory Capital Management Inc. Sells 177,675 Shares of Saia, Inc. (NASDAQ:SAIA)

Key Points

• Victory Capital Management Inc. decreased its stake in Saia, Inc. by 97.3%, selling 177,675 shares and now holding only 4,923 shares valued at $1.72 million.
• Saia's recent earnings report showed an EPS of $2.67, surpassing estimates, but revenue decreased by 0.7% compared to the previous year, totaling $817.12 million.
• Equities analysts have raised price targets for Saia, with JPMorgan recently increasing it from $295 to $380, indicating a generally positive outlook for the stock.

Victory Capital Management Inc. reduced its stake in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) by 97.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,923 shares of the transportation company's stock after selling 177,675 shares during the quarter. Victory Capital Management Inc.'s holdings in Saia were worth $1,720,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of SAIA. TimesSquare Capital Management LLC lifted its position in shares of Saia by 9.9% during the 1st quarter. TimesSquare Capital Management LLC now owns 116,400 shares of the transportation company's stock worth $40,674,000 after buying an additional 10,450 shares during the last quarter. Marks Group Wealth Management Inc raised its position in Saia by 11.5% in the first quarter. Marks Group Wealth Management Inc now owns 21,429 shares of the transportation company's stock valued at $7,488,000 after purchasing an additional 2,212 shares during the last quarter. Louisiana State Employees Retirement System raised its position in Saia by 1.4% in the first quarter. Louisiana State Employees Retirement System now owns 7,500 shares of the transportation company's stock valued at $2,621,000 after purchasing an additional 100 shares during the last quarter. Stephens Investment Management Group LLC raised its position in Saia by 8.6% in the first quarter. Stephens Investment Management Group LLC now owns 109,096 shares of the transportation company's stock valued at $38,121,000 after purchasing an additional 8,670 shares during the last quarter. Finally, Diversify Wealth Management LLC raised its position in Saia by 20.0% in the first quarter. Diversify Wealth Management LLC now owns 2,285 shares of the transportation company's stock valued at $798,000 after purchasing an additional 381 shares during the last quarter.

Saia Stock Down 3.0%

Saia stock traded down $9.15 during mid-day trading on Friday, reaching $293.09. The stock had a trading volume of 599,252 shares, compared to its average volume of 664,796. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.43 and a current ratio of 1.49. Saia, Inc. has a fifty-two week low of $229.12 and a fifty-two week high of $624.55. The stock's 50-day simple moving average is $280.97 and its 200-day simple moving average is $344.79. The firm has a market capitalization of $7.81 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 13.96 and a beta of 1.98.

Saia (NASDAQ:SAIA - Get Free Report) last announced its quarterly earnings data on Friday, July 25th. The transportation company reported $2.67 EPS for the quarter, beating analysts' consensus estimates 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 company's revenue for the quarter was down .7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.83 earnings per share. On average, sell-side analysts forecast that Saia, Inc. will post 15.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SAIA has been the subject of several research reports. Citigroup reiterated a "buy" rating and issued a $393.00 target price (up from $350.00) on shares of Saia in a research report on Monday. JPMorgan Chase & Co. increased their target price on Saia from $295.00 to $380.00 and gave the company an "overweight" rating in a research report on Monday. Wall Street Zen upgraded Saia to a "sell" rating in a research report on Tuesday, May 13th. Morgan Stanley set a $250.00 target price on Saia in a research report on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft downgraded Saia from a "buy" rating to a "hold" rating and set a $273.00 price objective for the company. in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target 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.