Legal & General Group Plc Acquires Shares of 35,284 Saia, Inc. $SAIA

Legal & General Group Plc bought a new stake in Saia, Inc. (NASDAQ:SAIA) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 35,284 shares of the transportation company’s stock, valued at approximately $14,860,000.

Several other institutional investors have also added to or reduced their stakes in SAIA. The Manufacturers Life Insurance Company purchased a new position in shares of Saia in the second quarter worth about $7,917,000. Ranger Investment Management L.P. bought a new position in Saia in the 2nd quarter worth approximately $27,234,000. Sanctuary Advisors LLC purchased a new position in Saia in the 2nd quarter valued at approximately $1,935,000. Meiji Yasuda Asset Management Co Ltd. bought a new stake in Saia during the 2nd quarter valued at $259,000. Finally, Bank of Nova Scotia purchased a new stake in shares of Saia during the second quarter worth $4,848,000.

Saia Price Performance

SAIA stock opened at $352.25 on Monday. The company’s 50 day moving average is $396.18 and its 200 day moving average is $405.78. The stock has a market cap of $9.39 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.04. Saia, Inc. has a 1-year low of $249.32 and a 1-year high of $494.71.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SAIA shares. Barclays reduced their price target on Saia from $500.00 to $475.00 and set an “overweight” rating for the company in a research report on Friday, July 31st. Susquehanna lifted their target price on Saia from $465.00 to $470.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Raymond James Financial decreased their price target on Saia from $477.00 to $475.00 and set an “outperform” rating on the stock in a research report on Monday, July 13th. UBS Group cut their price objective on shares of Saia from $527.00 to $504.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, Benchmark reaffirmed a “buy” rating on shares of Saia in a report on Wednesday, June 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company 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.