Norges Bank Acquires New Stake in Saia, Inc. (NASDAQ:SAIA)

Norges Bank bought a new position in shares of Saia, Inc. (NASDAQ:SAIA - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 458,940 shares of the transportation company's stock, valued at approximately $201,117,000. Norges Bank owned approximately 1.73% of Saia as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in SAIA. Artisan Partners Limited Partnership boosted its stake in Saia by 68.1% during the 3rd quarter. Artisan Partners Limited Partnership now owns 802,094 shares of the transportation company's stock worth $319,755,000 after purchasing an additional 325,031 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Saia by 3.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 788,197 shares of the transportation company's stock worth $314,215,000 after buying an additional 26,798 shares during the last quarter. Invesco Ltd. increased its position in Saia by 9.9% in the 3rd quarter. Invesco Ltd. now owns 705,719 shares of the transportation company's stock valued at $281,335,000 after acquiring an additional 63,794 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Saia by 53.1% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 663,265 shares of the transportation company's stock valued at $290,655,000 after acquiring an additional 230,058 shares during the last quarter. Finally, Artemis Investment Management LLP lifted its position in Saia by 4.7% during the 4th quarter. Artemis Investment Management LLP now owns 318,916 shares of the transportation company's stock worth $139,755,000 after acquiring an additional 14,449 shares during the period.

Wall Street Analysts Forecast Growth

SAIA has been the topic of several recent research reports. BMO Capital Markets dropped their price objective on shares of Saia from $575.00 to $490.00 and set a "market perform" rating on the stock in a research note on Monday, April 29th. JPMorgan Chase & Co. reduced their price objective on shares of Saia from $676.00 to $580.00 and set an "overweight" rating for the company in a research report on Monday, April 29th. Raymond James increased their target price on Saia from $565.00 to $604.00 and gave the stock an "outperform" rating in a research note on Monday, April 15th. StockNews.com downgraded Saia from a "hold" rating to a "sell" rating in a research note on Monday, April 29th. Finally, Wolfe Research cut Saia from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 11th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Saia has an average rating of "Hold" and an average price target of $497.22.

Saia Trading Up 0.8 %

Shares of SAIA traded up $2.99 on Thursday, hitting $380.25. 558,750 shares of the stock traded hands, compared to its average volume of 351,741. Saia, Inc. has a 1 year low of $266.91 and a 1 year high of $628.34. The stock's 50 day moving average is $501.95 and its two-hundred day moving average is $481.01. The firm has a market capitalization of $10.11 billion, a P/E ratio of 27.55, a P/E/G ratio of 1.37 and a beta of 1.71. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.04.

Saia (NASDAQ:SAIA - Get Free Report) last issued its quarterly earnings results on Friday, April 26th. The transportation company reported $3.38 earnings per share for the quarter, missing analysts' consensus estimates of $3.43 by ($0.05). The business had revenue of $754.80 million for the quarter, compared to analysts' expectations of $772.36 million. Saia had a return on equity of 19.53% and a net margin of 12.42%. The company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.85 EPS. As a group, sell-side analysts predict that Saia, Inc. will post 15.25 earnings per share for the current year.

Insider Buying and Selling at Saia

In related news, Director John P. Gainor, Jr. purchased 500 shares of the company's stock in a transaction that occurred on Thursday, May 2nd. The stock was purchased at an average price of $407.00 per share, with a total value of $203,500.00. Following the completion of the transaction, the director now owns 900 shares of the company's stock, valued at approximately $366,300. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

About Saia

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.