NewEdge Wealth LLC Purchases Shares of 8,021 Saia, Inc. $SAIA

NewEdge Wealth LLC purchased a new position in Saia, Inc. (NASDAQ:SAIA) in the second quarter, Holdings Channel reports. The fund purchased 8,021 shares of the transportation company’s stock, valued at approximately $3,378,000.

Other hedge funds also recently bought and sold shares of the company. M&T Bank Corp lifted its position in shares of Saia by 383.7% during the fourth quarter. M&T Bank Corp now owns 26,524 shares of the transportation company’s stock worth $8,661,000 after purchasing an additional 21,041 shares in the last quarter. Montag A & Associates Inc. acquired a new stake in Saia during the 1st quarter worth approximately $1,505,000. Marks Group Wealth Management Inc boosted its position in Saia by 32.9% in the 1st quarter. Marks Group Wealth Management Inc now owns 19,040 shares of the transportation company’s stock valued at $6,688,000 after buying an additional 4,717 shares during the period. California State Teachers Retirement System increased its position in shares of Saia by 23.1% during the first quarter. California State Teachers Retirement System now owns 30,917 shares of the transportation company’s stock worth $10,861,000 after acquiring an additional 5,810 shares during the period. Finally, London Co. of Virginia raised its stake in shares of Saia by 10.5% in the first quarter. London Co. of Virginia now owns 86,774 shares of the transportation company’s stock valued at $30,484,000 after acquiring an additional 8,255 shares in the last quarter.

Saia Price Performance

Shares of NASDAQ SAIA opened at $359.63 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.58 and a current ratio of 1.58. Saia, Inc. has a one year low of $249.32 and a one year high of $494.71. The firm has a market capitalization of $9.59 billion, a P/E ratio of 34.71, a PEG ratio of 1.62 and a beta of 2.14. The company’s fifty day moving average is $408.17 and its two-hundred day moving average is $407.66.

Saia (NASDAQ:SAIA) last released its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.38 by $0.13. Saia had a return on equity of 10.21% and a net margin of 8.19%.The business had revenue of $956.49 million for the quarter, compared to analysts’ expectations of $956.20 million. During the same quarter in the prior year, the firm posted $2.67 EPS. The company’s revenue was up 17.1% compared to the same quarter last year. Analysts forecast that Saia, Inc. will post 11.44 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SAIA. Evercore upgraded shares of Saia from an “in-line” rating to an “outperform” rating in a research note on Wednesday, July 1st. TD Cowen decreased their price objective on shares of Saia from $445.00 to $400.00 and set a “hold” rating for the company in a research report on Friday, July 31st. Raymond James Financial lowered their target price on shares of Saia from $477.00 to $475.00 and set an “outperform” rating for the company in a research note on Monday, July 13th. Wells Fargo & Company decreased their price target on Saia from $490.00 to $400.00 and set an “equal weight” rating for the company in a report on Friday, July 31st. Finally, Barclays dropped their price objective on Saia from $500.00 to $475.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Thirteen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $449.67.

About Saia

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.