Bank of New York Mellon Corp Lowers Stake in Saia, Inc. $SAIA

Bank of New York Mellon Corp reduced its position in Saia, Inc. (NASDAQ:SAIA) by 0.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,590 shares of the transportation company’s stock after selling 1,565 shares during the quarter. Bank of New York Mellon Corp’s holdings in Saia were worth $60,276,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Lincoln Capital Corp acquired a new position in shares of Saia during the 4th quarter worth $1,371,000. M&T Bank Corp grew its position in Saia by 383.7% in the fourth 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 last quarter. Lecap Asset Management Ltd. acquired a new position in Saia during the fourth quarter worth about $1,692,000. Montag A & Associates Inc. bought a new position in shares of Saia in the first quarter worth about $1,505,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Saia by 63.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,576 shares of the transportation company’s stock valued at $2,800,000 after purchasing an additional 3,329 shares in the last quarter.

Saia Stock Up 0.1%

Shares of NASDAQ SAIA opened at $426.55 on Friday. The company’s 50 day moving average price is $445.70 and its 200-day moving average price is $404.89. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.52 and a current ratio of 1.52. Saia, Inc. has a 52-week low of $249.32 and a 52-week high of $494.71. The company has a market capitalization of $11.38 billion, a P/E ratio of 44.81, a price-to-earnings-growth ratio of 1.99 and a beta of 2.13.

Saia (NASDAQ:SAIA) last posted its quarterly earnings data on Thursday, April 30th. The transportation company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.04. Saia had a net margin of 7.84% and a return on equity of 9.60%. The company had revenue of $806.23 million during the quarter, compared to analysts’ expectations of $789.08 million. During the same period in the prior year, the company posted $1.86 earnings per share. Saia’s revenue for the quarter was up 2.4% compared to the same quarter last year. Equities analysts forecast that Saia, Inc. will post 11.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SAIA shares. Benchmark reissued a “buy” rating on shares of Saia in a research note on Wednesday, June 3rd. BMO Capital Markets boosted their target price on shares of Saia from $450.00 to $470.00 and gave the stock a “market perform” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. increased 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. Wells Fargo & Company increased their target price on Saia from $445.00 to $490.00 and gave the company an “equal weight” rating in a research report on Friday, June 5th. Finally, Wolfe Research raised Saia from a “peer perform” rating to an “outperform” rating in a research note on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Saia has an average rating of “Moderate Buy” and a consensus target price of $462.72.

Saia Company 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.