Elevation Point Wealth Partners LLC Makes New $608,000 Investment in Saia, Inc. $SAIA

Elevation Point Wealth Partners LLC bought a new position in shares of Saia, Inc. (NASDAQ:SAIA) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 1,443 shares of the transportation company’s stock, valued at approximately $608,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Danske Bank A S purchased a new stake in shares of Saia during the second quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd purchased a new position in Saia in the second quarter worth $27,000. Meeder Asset Management Inc. grew its stake in Saia by 360.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 69 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 54 shares during the period. Quarry LP grew its stake in Saia by 8,400.0% in the 4th quarter. Quarry LP now owns 85 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 84 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Saia during the 4th quarter valued at $36,000.

Saia Stock Down 3.5%

SAIA stock opened at $349.54 on Tuesday. The stock has a 50-day simple moving average of $403.26 and a two-hundred day simple moving average of $407.45. Saia, Inc. has a twelve month low of $249.32 and a twelve month high of $494.71. The firm has a market capitalization of $9.32 billion, a PE ratio of 33.74, a PEG ratio of 1.63 and a beta of 2.14. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.04.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on SAIA shares. Weiss Ratings reissued a “hold (c)” rating on shares of Saia in a report on Monday, August 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Saia from $490.00 to $498.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Morgan Stanley dropped their target price on shares of Saia from $295.00 to $285.00 and set an “underweight” rating on the stock in a research note on Friday, July 31st. BMO Capital Markets increased their target price on shares of Saia from $450.00 to $470.00 and gave the company a “market perform” rating in a research report on Thursday, June 4th. Finally, Stephens decreased their price target on shares of 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, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $449.67.

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.