Norges Bank Takes Position in Saia, Inc. $SAIA

Norges Bank acquired a new position in Saia, Inc. (NASDAQ:SAIA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 399,397 shares of the transportation company’s stock, valued at approximately $130,411,000. Norges Bank owned 1.50% of Saia as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Alliancebernstein L.P. increased its holdings in Saia by 35.4% during the third quarter. Alliancebernstein L.P. now owns 2,273,396 shares of the transportation company’s stock valued at $680,564,000 after buying an additional 594,674 shares during the last quarter. Capital International Investors boosted its stake in shares of Saia by 0.8% during the 3rd quarter. Capital International Investors now owns 1,419,062 shares of the transportation company’s stock worth $424,794,000 after acquiring an additional 11,454 shares during the last quarter. Viking Global Investors LP grew its position in shares of Saia by 67.2% during the 3rd quarter. Viking Global Investors LP now owns 1,383,888 shares of the transportation company’s stock valued at $414,281,000 after acquiring an additional 556,229 shares during the period. Wasatch Advisors LP grew its position in shares of Saia by 25.3% during the 2nd quarter. Wasatch Advisors LP now owns 825,687 shares of the transportation company’s stock valued at $226,230,000 after acquiring an additional 166,486 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Saia by 1,300.4% in the 3rd quarter. Invesco Ltd. now owns 701,418 shares of the transportation company’s stock worth $209,976,000 after purchasing an additional 651,332 shares in the last quarter.

Wall Street Analyst Weigh In

SAIA has been the topic of a number of recent research reports. Jefferies Financial Group raised their target price on Saia from $500.00 to $550.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. upped their price target on Saia from $402.00 to $465.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Barclays raised their price objective on Saia from $400.00 to $500.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Susquehanna lifted their price objective on Saia from $425.00 to $465.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, Wall Street Zen upgraded Saia from a “sell” rating to a “hold” rating in a research note on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $449.67.

Saia Trading Up 1.5%

Shares of Saia stock opened at $471.43 on Friday. Saia, Inc. has a fifty-two week low of $248.37 and a fifty-two week high of $485.00. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.52 and a current ratio of 1.52. The company has a market capitalization of $12.57 billion, a P/E ratio of 49.52, a P/E/G ratio of 2.22 and a beta of 2.10. The company has a fifty day moving average of $425.10 and a 200 day moving average of $374.16.

Saia (NASDAQ:SAIA) last posted its quarterly earnings results on Thursday, April 30th. The transportation company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.04. Saia had a return on equity of 9.60% and a net margin of 7.84%.The business had revenue of $806.23 million for the quarter, compared to analysts’ expectations of $789.08 million. During the same period last year, the firm earned $1.86 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that Saia, Inc. will post 11.39 earnings per share for the current fiscal year.

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.