Saia, Inc. (NASDAQ:SAIA) Short Interest Down 31.9% in August

Key Points

• The short interest for Saia, Inc. saw a significant decline of 31.9% in August, dropping to 1,260,000 shares from 1,850,000 shares the previous month.
• Equity analysts have generally shown a positive outlook for Saia, with price targets raised by several firms, including Barclays, which increased its target from $315.00 to $350.00.
• Saia's latest quarterly earnings reported an EPS of $2.67, exceeding estimates, although revenue declined 0.7% year-over-year to $817.12 million.

Saia, Inc. (NASDAQ:SAIA - Get Free Report) was the recipient of a significant drop in short interest in August. As of August 15th, there was short interest totaling 1,260,000 shares, adropof31.9% from the July 31st total of 1,850,000 shares. Based on an average daily trading volume, of 663,000 shares, the days-to-cover ratio is presently 1.9 days. Based on an average daily trading volume, of 663,000 shares, the days-to-cover ratio is presently 1.9 days.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Stifel Nicolaus reiterated a "hold" rating and set a $306.00 price objective (up previously from $277.00) on shares of Saia in a research report on Thursday, July 24th. Barclays lifted their price objective on Saia from $315.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. Wolfe Research upgraded Saia from a "hold" rating to a "strong-buy" rating in a research report on Sunday, June 8th. Wall Street Zen upgraded Saia to a "sell" rating in a research report on Tuesday, May 13th. Finally, Susquehanna lifted their target price on Saia from $275.00 to $340.00 and gave the company a "neutral" rating in a research report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, Saia currently has a consensus rating of "Moderate Buy" and a consensus price target of $347.16.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SAIA. Captrust Financial Advisors acquired a new position in Saia during the 4th quarter worth $632,000. Centiva Capital LP grew its stake in Saia by 13.8% during the 4th quarter. Centiva Capital LP now owns 1,234 shares of the transportation company's stock worth $562,000 after purchasing an additional 150 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Saia during the 4th quarter worth $1,067,000. Focus Partners Wealth acquired a new position in Saia during the 4th quarter worth $275,000. Finally, Graham Capital Management L.P. acquired a new position in Saia during the 4th quarter worth $1,504,000.

Saia Trading Up 5.4%

Shares of SAIA stock traded up $15.95 on Friday, hitting $313.15. The stock had a trading volume of 752,293 shares, compared to its average volume of 507,216. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $8.34 billion, a P/E ratio of 28.92, a P/E/G ratio of 14.34 and a beta of 2.00. Saia has a 1 year low of $229.12 and a 1 year high of $624.55. The company's 50 day moving average price is $298.85 and its 200-day moving average price is $309.27.

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

Saia Company 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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