Saia, Inc. (NASDAQ:SAIA) Sees Significant Drop in Short Interest

Saia, Inc. (NASDAQ:SAIA) was the target of a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 1,660,000 shares, a decline of 20.6% from the November 30th total of 2,090,000 shares. Based on an average daily trading volume, of 366,700 shares, the days-to-cover ratio is presently 4.5 days.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SAIA shares. Citigroup reduced their price objective on Saia from $651.00 to $644.00 and set a “buy” rating for the company in a research note on Wednesday, December 4th. Benchmark reiterated a “buy” rating and set a $480.00 price target on shares of Saia in a research note on Thursday, September 19th. Barclays lifted their price objective on shares of Saia from $515.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. Bank of America increased their target price on shares of Saia from $443.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. Finally, BMO Capital Markets boosted their price target on Saia from $465.00 to $495.00 and gave the company a “market perform” rating in a research report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Saia has an average rating of “Moderate Buy” and a consensus price target of $514.88.

Insider Transactions at Saia

In other news, EVP Rohit Lal sold 1,120 shares of Saia stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $560.00, for a total transaction of $627,200.00. Following the sale, the executive vice president now owns 8,270 shares in the company, valued at approximately $4,631,200. The trade was a 11.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.30% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. American Century Companies Inc. increased its holdings in Saia by 347.3% during the 2nd quarter. American Century Companies Inc. now owns 159,853 shares of the transportation company’s stock valued at $75,817,000 after acquiring an additional 124,117 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in 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 buying an additional 98,383 shares in the last quarter. Wasatch Advisors LP grew its holdings in Saia by 10.2% during the 3rd quarter. Wasatch Advisors LP now owns 692,405 shares of the transportation company’s stock valued at $302,761,000 after buying an additional 64,351 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Saia during the third quarter worth $22,979,000. Finally, International Assets Investment Management LLC raised its holdings in shares of Saia by 43,625.8% in the third quarter. International Assets Investment Management LLC now owns 38,916 shares of the transportation company’s stock worth $17,016,000 after acquiring an additional 38,827 shares during the last quarter.

Saia Price Performance

SAIA traded down $15.91 on Monday, hitting $459.40. 390,376 shares of the company were exchanged, compared to its average volume of 383,984. Saia has a fifty-two week low of $358.90 and a fifty-two week high of $628.34. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.26. The firm has a market capitalization of $12.22 billion, a P/E ratio of 32.81, a price-to-earnings-growth ratio of 2.96 and a beta of 1.74. The business’s fifty day moving average is $511.92 and its 200 day moving average is $459.54.

Saia (NASDAQ:SAIA) last released its quarterly earnings data on Friday, October 25th. The transportation company reported $3.46 earnings per share for the quarter, missing the consensus estimate of $3.53 by ($0.07). The firm had revenue of $842.10 million during the quarter, compared to analysts’ expectations of $839.82 million. Saia had a net margin of 11.83% and a return on equity of 18.00%. The business’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the previous year, the business earned $3.67 earnings per share. As a group, sell-side analysts anticipate that Saia will post 13.51 EPS for the current 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.