CI Investments Inc. Cuts Stock Position in Saia, Inc. $SAIA

CI Investments Inc. trimmed its holdings in shares of Saia, Inc. (NASDAQ:SAIA) by 31.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 14,447 shares of the transportation company’s stock after selling 6,709 shares during the period. CI Investments Inc.’s holdings in Saia were worth $5,075,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Lincoln Capital Corp acquired a new stake in shares of Saia during the fourth quarter worth $1,371,000. M&T Bank Corp increased its position in shares of Saia by 383.7% in the 4th quarter. M&T Bank Corp now owns 26,524 shares of the transportation company’s stock valued at $8,661,000 after acquiring an additional 21,041 shares during the period. Lecap Asset Management Ltd. acquired a new position in shares of Saia in the 4th quarter valued at $1,692,000. Montag A & Associates Inc. purchased a new position in Saia in the 1st quarter worth $1,505,000. Finally, Marks Group Wealth Management Inc raised its stake 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 worth $6,688,000 after acquiring an additional 4,717 shares during the last quarter.

Analyst Ratings Changes

Several research firms have weighed in on SAIA. JPMorgan Chase & Co. boosted their price target on Saia from $465.00 to $490.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. UBS Group raised their price objective on Saia from $493.00 to $527.00 and gave the stock a “buy” rating in a research note on Tuesday, July 7th. The Goldman Sachs Group lifted their target price on Saia from $441.00 to $494.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Stifel Nicolaus set a $450.00 target price on Saia in a research report on Friday, May 1st. Finally, TD Cowen increased their price target on shares of Saia from $367.00 to $445.00 and gave the stock a “hold” rating in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Saia currently has an average rating of “Moderate Buy” and an average price target of $462.72.

Saia Trading Up 0.1%

Shares of NASDAQ:SAIA opened at $426.55 on Friday. Saia, Inc. has a 12-month low of $249.32 and a 12-month high of $494.71. The company has a market capitalization of $11.38 billion, a PE ratio of 44.81, a PEG ratio of 1.99 and a beta of 2.13. The business has a 50 day moving average of $445.70 and a two-hundred day moving average of $404.89. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.04.

Saia (NASDAQ:SAIA) last issued its quarterly earnings data on Thursday, April 30th. The transportation company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.04. The business had revenue of $806.23 million for the quarter, compared to analysts’ expectations of $789.08 million. Saia had a net margin of 7.84% and a return on equity of 9.60%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company earned $1.86 EPS. As a group, analysts forecast that Saia, Inc. will post 11.46 EPS for the current year.

Saia 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.