Texas Permanent School Fund trimmed its holdings in shares of Saia, Inc. (NASDAQ:SAIA – Get Rating) by 2.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,672 shares of the transportation company’s stock after selling 399 shares during the quarter. Texas Permanent School Fund owned about 0.07% of Saia worth $4,553,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of SAIA. National Bank of Canada FI acquired a new position in Saia during the fourth quarter worth $31,000. Janney Montgomery Scott LLC acquired a new position in Saia during the fourth quarter worth $241,000. State of New Jersey Common Pension Fund D increased its position in Saia by 3.9% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 14,924 shares of the transportation company’s stock worth $5,030,000 after buying an additional 558 shares during the last quarter. CWM LLC acquired a new stake in shares of Saia in the fourth quarter valued at about $61,000. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Saia in the fourth quarter valued at about $809,000.
Analysts Set New Price Targets
A number of research firms recently weighed in on SAIA. Credit Suisse Group lifted their target price on Saia from $234.00 to $253.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Stifel Nicolaus decreased their target price on Saia from $238.00 to $229.00 in a research report on Thursday, July 28th. Deutsche Bank Aktiengesellschaft decreased their target price on Saia from $377.00 to $300.00 in a research report on Thursday, July 28th. Susquehanna Bancshares raised their price target on shares of Saia from $265.00 to $270.00 in a research note on Thursday, July 28th. Finally, Raymond James cut their price target on shares of Saia from $275.00 to $235.00 in a research note on Friday, July 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $268.71.
Saia Price Performance
Saia (NASDAQ:SAIA – Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The transportation company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.48 by $0.62. Saia had a net margin of 12.96% and a return on equity of 26.79%. The company had revenue of $745.55 million during the quarter, compared to analyst estimates of $731.26 million. During the same quarter in the previous year, the business earned $2.34 EPS. The firm’s revenue was up 30.5% on a year-over-year basis. On average, equities research analysts forecast that Saia, Inc. will post 13.56 earnings per share for the current year.
Saia, Inc, through its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 400 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. As of December 31, 2021, it operated 176 owned and leased facilities; and owned approximately 5,600 tractors and 19,300 trailers.
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