Clearbridge Investments LLC Purchases 31,876 Shares of Saia, Inc. (NASDAQ:SAIA)

Clearbridge Investments LLC lifted its holdings in Saia, Inc. (NASDAQ:SAIA) by 67.2% during the 2nd quarter, Holdings Channel.com reports. The firm owned 79,283 shares of the transportation company’s stock after buying an additional 31,876 shares during the period. Clearbridge Investments LLC’s holdings in Saia were worth $37,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Truist Financial Corp raised its holdings in Saia by 25.6% in the 2nd quarter. Truist Financial Corp now owns 27,715 shares of the transportation company’s stock worth $13,145,000 after purchasing an additional 5,643 shares during the period. Quarry LP bought a new position in shares of Saia in the second quarter worth about $41,000. Core Wealth Advisors Inc. lifted its position in shares of Saia by 810.8% during the 2nd quarter. Core Wealth Advisors Inc. now owns 674 shares of the transportation company’s stock valued at $320,000 after buying an additional 600 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Saia during the 2nd quarter valued at approximately $791,000. Finally, Shellback Capital LP purchased a new stake in Saia in the 2nd quarter worth approximately $6,877,000.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Bank of America upped their price target on shares of Saia from $443.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. TD Cowen upped their target price on shares of Saia from $416.00 to $418.00 and gave the stock a “hold” rating in a report on Thursday, September 5th. JPMorgan Chase & Co. raised their price target on Saia from $479.00 to $481.00 and gave the company an “overweight” rating in a report on Friday, September 6th. Barclays dropped their price objective on Saia from $575.00 to $515.00 and set an “overweight” rating for the company in a research note on Monday, July 29th. Finally, Benchmark reissued a “buy” rating and set a $480.00 target price on shares of Saia in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $488.43.

Saia Price Performance

Saia stock opened at $426.36 on Friday. Saia, Inc. has a 52-week low of $341.26 and a 52-week high of $628.34. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.08. The firm’s fifty day moving average is $406.64 and its 200 day moving average is $453.14. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 30.90, a PEG ratio of 2.05 and a beta of 1.74.

Saia (NASDAQ:SAIA) last announced its earnings results on Friday, July 26th. The transportation company reported $3.83 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.00 by ($0.17). The business had revenue of $823.24 million for the quarter, compared to analysts’ expectations of $821.60 million. Saia had a net margin of 12.26% and a return on equity of 19.14%. Sell-side analysts forecast that Saia, Inc. will post 13.91 EPS 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.