Saia, Inc. (NASDAQ:SAIA) Sees Large Decline in Short Interest

Key Points

• Short interest fell 19.9% in April to 1,177,934 shares (about 4.4% of shares outstanding), leaving a short-interest ratio of roughly 2.5 days, indicating reduced bearish positioning.
• Analysts are mixed: the consensus rating is "Hold" with an average target of $392.32, despite several firms raising targets (e.g., Jefferies $550, Stephens $445, JPMorgan $365); the breakdown is 10 Buy, 11 Hold, 1 Sell.
• Shares rose about 5.3% to $444.22 after a slight quarterly EPS beat ($1.86 vs. $1.82) and 2.4% revenue growth year-over-year, though insiders sold roughly 15,533 shares (~$6.0M) over the past three months.

Saia, Inc. (NASDAQ:SAIA - Get Free Report) was the recipient of a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 1,177,934 shares, a drop of 19.9% from the March 31st total of 1,470,426 shares. Approximately 4.4% of the company's shares are sold short. Based on an average trading volume of 465,559 shares, the short-interest ratio is currently 2.5 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Saia from $349.00 to $365.00 and gave the stock an "overweight" rating in a research note on Monday, January 12th. Jefferies Financial Group lifted their target price on shares of Saia from $500.00 to $550.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Stephens lifted their target price on shares of Saia from $414.00 to $445.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 11th. TD Cowen reissued a "hold" rating on shares of Saia in a research note on Friday, January 9th. Finally, Wells Fargo & Company lifted their target price on shares of Saia from $310.00 to $395.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $392.32.

Saia Stock Up 5.3%

Shares of NASDAQ SAIA traded up $22.18 during mid-day trading on Thursday, reaching $444.22. 459,136 shares of the company's stock traded hands, compared to its average volume of 546,432. The stock has a market cap of $11.85 billion, a P/E ratio of 46.70, a PEG ratio of 2.39 and a beta of 2.04. The business has a 50-day simple moving average of $381.15 and a 200 day simple moving average of $345.50. Saia has a 1-year low of $231.69 and a 1-year high of $454.88. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.64 and a quick ratio of 1.64.

Saia (NASDAQ:SAIA - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The transportation company reported $1.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.04. Saia had a net margin of 7.89% and a return on equity of 9.86%. Saia's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.86 earnings per share. On average, analysts expect that Saia will post 10.6 EPS for the current fiscal year.

Insider Buying and Selling at Saia

In related news, VP Raymond R. Ramu sold 5,226 shares of Saia stock in a transaction on Friday, February 13th. The shares were sold at an average price of $387.95, for a total transaction of $2,027,426.70. Following the completion of the transaction, the vice president owned 3,631 shares of the company's stock, valued at $1,408,646.45. This trade represents a 59.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Kelly W. Benton sold 800 shares of Saia stock in a transaction on Friday, February 13th. The stock was sold at an average price of $389.00, for a total transaction of $311,200.00. Following the transaction, the chief accounting officer directly owned 3,157 shares of the company's stock, valued at $1,228,073. This represents a 20.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 15,533 shares of company stock valued at $6,015,055 over the last three months. 0.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Quarry LP grew 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 buying an additional 84 shares during the last quarter. State of Wyoming bought a new stake in Saia in the 3rd quarter worth about $30,000. Los Angeles Capital Management LLC bought a new stake in Saia in the 4th quarter worth about $36,000. Torren Management LLC bought a new stake in Saia in the 4th quarter worth about $40,000. Finally, Larson Financial Group LLC grew its position in Saia by 1,612.5% in the 4th quarter. Larson Financial Group LLC now owns 137 shares of the transportation company's stock worth $45,000 after purchasing an additional 129 shares in the last quarter.

Saia Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.