State of Alaska Department of Revenue Reduces Stake in Saia, Inc. (NASDAQ:SAIA)

State of Alaska Department of Revenue decreased its stake in shares of Saia, Inc. (NASDAQ:SAIA) by 1.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,035 shares of the transportation company’s stock after selling 50 shares during the period. State of Alaska Department of Revenue’s holdings in Saia were worth $1,383,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SAIA. State Street Corp raised its holdings in shares of Saia by 3.1% in the 3rd quarter. State Street Corp now owns 805,597 shares of the transportation company’s stock valued at $352,255,000 after acquiring an additional 24,351 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Saia by 10.2% in the 3rd quarter. Wasatch Advisors LP now owns 692,405 shares of the transportation company’s stock valued at $302,761,000 after acquiring an additional 64,351 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Saia by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 471,667 shares of the transportation company’s stock valued at $206,292,000 after acquiring an additional 6,456 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Saia by 11.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 303,582 shares of the transportation company’s stock valued at $132,744,000 after acquiring an additional 31,991 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Saia by 64.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 250,626 shares of the transportation company’s stock valued at $109,589,000 after acquiring an additional 98,383 shares in the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SAIA. BMO Capital Markets raised their price objective on Saia from $465.00 to $495.00 and gave the company a “market perform” rating in a report on Monday, October 28th. Bank of America decreased their price objective on Saia from $600.00 to $565.00 and set a “buy” rating on the stock in a report on Tuesday, February 4th. Wells Fargo & Company decreased their price objective on Saia from $550.00 to $510.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 4th. JPMorgan Chase & Co. decreased their price objective on Saia from $566.00 to $558.00 and set an “overweight” rating on the stock in a report on Tuesday, February 4th. Finally, Stephens reissued an “overweight” rating and set a $600.00 price objective on shares of Saia in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Saia presently has a consensus rating of “Moderate Buy” and an average target price of $535.41.

Insider Activity

In other news, EVP Rohit Lal sold 1,120 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $560.00, for a total value of $627,200.00. Following the completion of the transaction, the executive vice president now owns 8,270 shares in the company, valued at $4,631,200. This trade represents a 11.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Patrick D. Sugar sold 799 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $493.74, for a total value of $394,498.26. Following the completion of the transaction, the executive vice president now owns 8,629 shares of the company’s stock, valued at approximately $4,260,482.46. The trade was a 8.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,453 shares of company stock worth $4,693,318 in the last quarter. 0.30% of the stock is owned by company insiders.

Saia Price Performance

Shares of SAIA stock opened at $476.90 on Thursday. The firm has a market cap of $12.68 billion, a P/E ratio of 35.30, a P/E/G ratio of 2.51 and a beta of 1.79. Saia, Inc. has a fifty-two week low of $358.90 and a fifty-two week high of $628.34. The business’s 50 day moving average price is $487.42 and its 200-day moving average price is $462.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.57.

Saia (NASDAQ:SAIA) last issued its quarterly earnings data on Friday, February 7th. The transportation company reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.03). The business had revenue of $789.00 million during the quarter, compared to the consensus estimate of $794.69 million. Saia had a return on equity of 16.63% and a net margin of 11.28%. Saia’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.33 earnings per share. On average, equities research analysts anticipate that Saia, Inc. will post 15.46 earnings per share for the current year.

About Saia

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.