Stock Traders Buy High Volume of Call Options on Saia (NASDAQ:SAIA)

Key Points

• Unusual options activity: Traders purchased 2,287 call options on Saia, roughly 1,534% above the typical daily volume of 140 contracts.
• Analyst sentiment remains favorable: Fourteen analysts rate Saia a Buy, six rate it Hold and one rates it Sell, producing a consensus “Moderate Buy” rating and a $448.37 price target.
• Shares declined while earnings exceeded expectations: Saia stock fell 1.4% to $337.27, despite quarterly earnings of $3.51 per share surpassing estimates and revenue rising 17.1% year over year.

Saia, Inc. (NASDAQ:SAIA - Get Free Report) was the recipient of some unusual options trading on Monday. Stock traders bought 2,287 call options on the company. This represents an increase of approximately 1,534% compared to the typical daily volume of 140 call options.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Saia in a research note on Monday, August 3rd. Barclays dropped their target price on shares of Saia from $500.00 to $475.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. Sanford C. Bernstein began coverage on Saia in a research note on Thursday, September 10th. They issued an "outperform" rating and a $439.00 price objective on the stock. Bank of America restated a "buy" rating on shares of Saia in a research report on Friday, September 4th. Finally, Morgan Stanley decreased their target price on Saia from $295.00 to $285.00 and set an "underweight" rating for the company in a research note on Friday, July 31st. Fourteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Saia has an average rating of "Moderate Buy" and a consensus price target of $448.37.

Hedge Funds Weigh In On Saia

Several large investors have recently added to or reduced their stakes in SAIA. BlackRock Inc. increased its holdings in Saia by 6.6% during the 2nd quarter. BlackRock Inc. now owns 2,545,731 shares of the transportation company's stock worth $1,072,160,000 after purchasing an additional 156,628 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Saia by 8.6% in the first quarter. First Trust Advisors LP now owns 804,284 shares of the transportation company's stock valued at $282,529,000 after purchasing an additional 63,486 shares in the last quarter. Norges Bank bought a new position in shares of Saia in the fourth quarter valued at approximately $130,411,000. Jupiter Topco LLC purchased a new position in shares of Saia during the second quarter valued at approximately $140,979,000. Finally, William Blair Investment Management LLC purchased a new position in shares of Saia during the second quarter valued at approximately $109,089,000.

Saia Stock Down 1.4%

Shares of SAIA traded down $4.95 during trading hours on Monday, reaching $337.27. The stock had a trading volume of 15,036 shares, compared to its average volume of 479,029. The firm has a 50-day simple moving average of $373.43 and a 200 day simple moving average of $400.91. Saia has a 12 month low of $249.32 and a 12 month high of $494.71. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 32.56, a P/E/G ratio of 2.76 and a beta of 2.14.

Saia (NASDAQ:SAIA - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The transportation company reported $3.51 earnings per share for the quarter, topping the consensus estimate of $3.38 by $0.13. Saia had a net margin of 8.19% and a return on equity of 10.21%. The firm had revenue of $956.49 million for the quarter, compared to the consensus estimate of $956.20 million. During the same quarter in the prior year, the company posted $2.67 earnings per share. The business's revenue was up 17.1% on a year-over-year basis. Equities research analysts predict that Saia will post 11.43 earnings per share for the current fiscal year.

Saia Company Profile

Saia, Inc is a transportation and logistics company headquartered in Johns Creek, Georgia. Its principal operating subsidiary, Saia LTL Freight, provides less-than-truckload transportation, moving shipments from multiple customers in a single trailer. The company serves businesses across the contiguous United States and offers regional, interregional and long-distance freight services.

Saia's services include standard and expedited LTL shipping, guaranteed delivery options, volume and truckload solutions, and specialized transportation for certain freight needs.

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