Park Avenue Securities LLC Decreases Stock Holdings in Saia, Inc. (NASDAQ:SAIA)

Park Avenue Securities LLC decreased its stake in shares of Saia, Inc. (NASDAQ:SAIA) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,178 shares of the transportation company’s stock after selling 62 shares during the period. Park Avenue Securities LLC’s holdings in Saia were worth $689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SAIA. International Assets Investment Management LLC boosted its stake in shares of Saia by 26,722.4% in the 4th quarter. International Assets Investment Management LLC now owns 31,114 shares of the transportation company’s stock worth $13,635,000 after buying an additional 30,998 shares during the last quarter. Evoke Wealth LLC bought a new stake in shares of Saia during the 4th quarter valued at about $5,802,000. First Hawaiian Bank increased its position in shares of Saia by 37.6% during the 4th quarter. First Hawaiian Bank now owns 7,560 shares of the transportation company’s stock valued at $3,313,000 after purchasing an additional 2,065 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Saia by 11.5% in the 4th quarter. Franklin Resources Inc. now owns 22,100 shares of the transportation company’s stock worth $9,685,000 after purchasing an additional 2,272 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new position in shares of Saia in the fourth quarter worth approximately $3,287,000.

Analysts Set New Price Targets

A number of analysts have commented on SAIA shares. TD Cowen upped their target price on shares of Saia from $473.00 to $475.00 and gave the company a “hold” rating in a report on Thursday, June 6th. Wells Fargo & Company started coverage on Saia in a research report on Friday, June 7th. They set an “equal weight” rating and a $445.00 target price on the stock. UBS Group reduced their price target on Saia from $618.00 to $541.00 and set a “buy” rating for the company in a research report on Monday, April 29th. JPMorgan Chase & Co. lowered their price objective on Saia from $676.00 to $580.00 and set an “overweight” rating on the stock in a research report on Monday, April 29th. Finally, BMO Capital Markets boosted their price objective on Saia from $490.00 to $500.00 and gave the company a “market perform” rating in a research note on Thursday, June 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Saia presently has a consensus rating of “Hold” and a consensus target price of $498.00.

Insider Activity

In related news, Director John P. Gainor, Jr. purchased 500 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was bought at an average cost of $407.00 per share, for a total transaction of $203,500.00. Following the completion of the transaction, the director now directly owns 900 shares in the company, valued at $366,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

Saia Stock Performance

Shares of NASDAQ:SAIA opened at $458.70 on Friday. The firm has a fifty day simple moving average of $433.70 and a two-hundred day simple moving average of $486.91. Saia, Inc. has a 52 week low of $331.23 and a 52 week high of $628.34. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $12.20 billion, a P/E ratio of 33.24, a PEG ratio of 1.67 and a beta of 1.70.

Saia (NASDAQ:SAIA) last released its quarterly earnings results on Friday, April 26th. The transportation company reported $3.38 EPS for the quarter, missing the consensus estimate of $3.43 by ($0.05). Saia had a return on equity of 19.53% and a net margin of 12.42%. The company had revenue of $754.80 million during the quarter, compared to analysts’ expectations of $772.36 million. During the same quarter in the prior year, the business posted $2.85 EPS. The company’s revenue was up 14.3% on a year-over-year basis. On average, analysts expect that Saia, Inc. will post 15.31 earnings per share for the current fiscal year.

Saia Company Profile

Saia, Inc, together with its subsidiaries, operates as a transportation company in North America. The company provides less-than-truckload services for shipments between 100 and 10,000 pounds; and other value-added services, including non-asset truckload, expedited, and logistics services. It also offers other value-added services, including non-asset truckload, expedited, and logistics services.