Bayesian Capital Management LP Buys New Stake in Saia, Inc. (NASDAQ:SAIA)

Bayesian Capital Management LP purchased a new stake in Saia, Inc. (NASDAQ:SAIA) in the 1st quarter, HoldingsChannel reports. The fund purchased 1,543 shares of the transportation company’s stock, valued at approximately $903,000.

Several other hedge funds also recently added to or reduced their stakes in SAIA. Pineridge Advisors LLC acquired a new stake in shares of Saia in the fourth quarter valued at about $26,000. Core Wealth Advisors Inc. purchased a new stake in shares of Saia during the fourth quarter valued at approximately $32,000. Rise Advisors LLC acquired a new position in shares of Saia during the first quarter worth $40,000. GAMMA Investing LLC purchased a new position in shares of Saia in the fourth quarter valued at $43,000. Finally, National Bank of Canada FI acquired a new stake in Saia during the 4th quarter valued at $44,000.

Saia Stock Performance

Saia stock traded up $19.08 during midday trading on Tuesday, reaching $405.29. 453,910 shares of the stock traded hands, compared to its average volume of 398,395. Saia, Inc. has a fifty-two week low of $341.26 and a fifty-two week high of $628.34. The firm has a fifty day moving average price of $447.12 and a two-hundred day moving average price of $493.20. The firm has a market cap of $10.78 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 1.41 and a beta of 1.72. The company has a current ratio of 1.36, a quick ratio of 1.23 and a debt-to-equity ratio of 0.08.

Saia (NASDAQ:SAIA) last posted its earnings results on Friday, April 26th. The transportation company reported $3.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.05). The business had revenue of $754.80 million during the quarter, compared to analyst estimates of $772.36 million. Saia had a net margin of 12.26% and a return on equity of 19.14%. Saia’s revenue was up 14.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.85 earnings per share. On average, equities research analysts forecast that Saia, Inc. will post 15.32 earnings per share for the current year.

Insider Activity at Saia

In other Saia news, Director John P. Gainor, Jr. bought 500 shares of the stock in a transaction on Thursday, May 2nd. The shares were purchased at an average cost of $407.00 per share, with a total value of $203,500.00. Following the completion of the transaction, the director now directly owns 900 shares of the company’s stock, valued at approximately $366,300. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.30% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SAIA shares. StockNews.com cut shares of Saia from a “hold” rating to a “sell” rating in a research report on Monday, April 29th. Susquehanna reduced their price target on Saia from $610.00 to $550.00 and set a “positive” rating for the company in a report on Wednesday, June 12th. Wolfe Research downgraded Saia from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 11th. Evercore ISI upped their target price on Saia from $523.00 to $566.00 and gave the company an “outperform” rating in a research report on Tuesday, June 25th. Finally, TD Cowen dropped their price target on shares of Saia from $475.00 to $416.00 and set a “hold” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Saia currently has a consensus rating of “Hold” and a consensus price target of $490.18.

About Saia

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.