Ranger Investment Management L.P. Purchases New Stake in Saia, Inc. $SAIA

Ranger Investment Management L.P. acquired a new stake in Saia, Inc. (NASDAQ:SAIA) in the second quarter, HoldingsChannel reports. The institutional investor acquired 64,665 shares of the transportation company’s stock, valued at approximately $27,234,000. Saia makes up about 1.7% of Ranger Investment Management L.P.’s investment portfolio, making the stock its 18th largest position.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Viking Global Investors LP purchased a new position in shares of Saia during the 2nd quarter valued at approximately $226,770,000. Invesco Ltd. increased its stake in shares of Saia by 1,300.4% in the third quarter. Invesco Ltd. now owns 701,418 shares of the transportation company’s stock worth $209,976,000 after buying an additional 651,332 shares during the last quarter. Norges Bank bought a new stake in shares of Saia in the fourth quarter worth $130,411,000. William Blair Investment Management LLC acquired a new stake in Saia in the second quarter valued at $109,089,000. Finally, Freestone Grove Partners LP acquired a new stake in Saia in the third quarter valued at $56,305,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SAIA. TD Cowen reduced their price objective on shares of Saia from $445.00 to $400.00 and set a “hold” rating on the stock in a research note on Friday, July 31st. Raymond James Financial dropped their target price on shares of Saia from $477.00 to $475.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Weiss Ratings restated a “hold (c)” rating on shares of Saia in a research note on Monday, August 3rd. Susquehanna increased their price target on shares of Saia from $465.00 to $470.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Finally, Stephens decreased their price target on Saia from $520.00 to $490.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Thirteen research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $449.67.

Saia Stock Performance

NASDAQ SAIA opened at $362.15 on Monday. 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 company has a 50-day simple moving average of $405.76 and a 200-day simple moving average of $407.62. The firm has a market capitalization of $9.66 billion, a PE ratio of 34.96, a price-to-earnings-growth ratio of 1.63 and a beta of 2.14.

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

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.