Freestone Grove Partners LP Purchases New Holdings in Saia, Inc. $SAIA

Freestone Grove Partners LP purchased a new position in shares of Saia, Inc. (NASDAQ:SAIA) during the second quarter, Holdings Channel reports. The firm purchased 138,190 shares of the transportation company’s stock, valued at approximately $58,200,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vestor Capital LLC raised its holdings in Saia by 9.5% in the 4th quarter. Vestor Capital LLC now owns 323 shares of the transportation company’s stock valued at $96,000 after acquiring an additional 28 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Saia by 5.8% during the 4th quarter. Parallel Advisors LLC now owns 563 shares of the transportation company’s stock worth $184,000 after purchasing an additional 31 shares in the last quarter. Wealth Alliance LLC increased its position in shares of Saia by 5.1% in the first quarter. Wealth Alliance LLC now owns 763 shares of the transportation company’s stock worth $268,000 after purchasing an additional 37 shares during the period. Handelsbanken Fonder AB raised its stake in Saia by 0.5% in the second quarter. Handelsbanken Fonder AB now owns 8,858 shares of the transportation company’s stock valued at $3,731,000 after purchasing an additional 40 shares in the last quarter. Finally, Boothbay Fund Management LLC raised its stake in Saia by 3.2% in the second quarter. Boothbay Fund Management LLC now owns 1,401 shares of the transportation company’s stock valued at $384,000 after purchasing an additional 43 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Susquehanna upped their price objective on shares of Saia from $465.00 to $470.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. BMO Capital Markets boosted their target price on shares of Saia from $450.00 to $470.00 and gave the company a “market perform” rating in a research report on Thursday, June 4th. Barclays cut their price target on shares of Saia from $500.00 to $475.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Benchmark reiterated a “buy” rating on shares of Saia in a research report on Wednesday, June 3rd. Finally, Bank of America upgraded shares of Saia from a “neutral” rating to a “buy” rating and increased their price target for the stock from $499.00 to $502.00 in a research report on Monday, July 13th. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $449.67.

Saia Stock Up 1.7%

Shares of NASDAQ:SAIA opened at $349.83 on Thursday. 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 $9.33 billion, a PE ratio of 33.77, a price-to-earnings-growth ratio of 1.55 and a beta of 2.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.58 and a current ratio of 1.58. The company has a fifty day moving average of $399.48 and a 200-day moving average of $406.62.

Saia (NASDAQ:SAIA) last released its quarterly earnings data on Thursday, July 30th. The transportation company reported $3.51 earnings per share for the quarter, beating the consensus estimate of $3.38 by $0.13. The company had revenue of $956.49 million for the quarter, compared to the consensus estimate of $956.20 million. Saia had a return on equity of 10.21% and a net margin of 8.19%.Saia’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted $2.67 EPS. On average, equities analysts predict that Saia, Inc. will post 11.44 EPS for the current fiscal year.

Saia 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.