The Manufacturers Life Insurance Company Invests $7.92 Million in Saia, Inc. $SAIA

The Manufacturers Life Insurance Company bought a new stake in shares of Saia, Inc. (NASDAQ:SAIA) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 18,798 shares of the transportation company’s stock, valued at approximately $7,917,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AQR Capital Management LLC increased its stake in Saia by 52.4% in the 1st quarter. AQR Capital Management LLC now owns 1,781 shares of the transportation company’s stock worth $622,000 after purchasing an additional 612 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in Saia by 334.3% during the first quarter. Jones Financial Companies Lllp now owns 873 shares of the transportation company’s stock valued at $305,000 after buying an additional 672 shares in the last quarter. California Public Employees Retirement System lifted its stake in Saia by 4.3% during the second quarter. California Public Employees Retirement System now owns 32,543 shares of the transportation company’s stock valued at $8,916,000 after buying an additional 1,356 shares in the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Saia in the second quarter worth about $11,599,000. Finally, Frontier Capital Management Co. LLC purchased a new position in shares of Saia in the second quarter worth approximately $13,943,000.

Saia Price Performance

SAIA opened at $352.25 on Monday. The company has a market capitalization of $9.39 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.58 and a quick ratio of 1.58. Saia, Inc. has a fifty-two week low of $249.32 and a fifty-two week high of $494.71. The business has a 50-day moving average of $396.18 and a 200-day moving average of $405.78.

Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Thursday, July 30th. The transportation company reported $3.51 EPS for the quarter, topping the consensus estimate of $3.38 by $0.13. The company had revenue of $956.49 million for the quarter, compared to analyst estimates of $956.20 million. Saia had a net margin of 8.19% and a return on equity of 10.21%. Saia’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.67 EPS. Equities research analysts forecast that Saia, Inc. will post 11.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SAIA shares. Susquehanna boosted their price target on shares of Saia from $465.00 to $470.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Wall Street Zen upgraded shares of Saia from a “sell” rating to a “hold” rating in a research report on Monday, May 4th. The Goldman Sachs Group reissued a “buy” rating and set a $476.00 target price on shares of Saia in a research note on Thursday, July 30th. Citigroup reduced their target price on Saia from $488.00 to $423.00 and set a “buy” rating for the company in a report on Tuesday, August 4th. Finally, Bank of America raised Saia from a “neutral” rating to a “buy” rating and raised their target price for the stock from $499.00 to $502.00 in a research report on Monday, July 13th. Thirteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Saia currently has a consensus rating of “Moderate Buy” and an average target price of $449.67.

About Saia

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.