First Hawaiian Bank Reduces Position in Saia, Inc. (NASDAQ:SAIA)

First Hawaiian Bank lowered its stake in Saia, Inc. (NASDAQ:SAIA) by 20.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,144 shares of the transportation company’s stock after selling 1,063 shares during the period. First Hawaiian Bank’s holdings in Saia were worth $1,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. CIBC Asset Management Inc grew its holdings in Saia by 3.5% in the third quarter. CIBC Asset Management Inc now owns 770 shares of the transportation company’s stock valued at $337,000 after purchasing an additional 26 shares during the period. Legacy Wealth Asset Management LLC grew its stake in Saia by 4.1% in the 3rd quarter. Legacy Wealth Asset Management LLC now owns 770 shares of the transportation company’s stock valued at $337,000 after acquiring an additional 30 shares during the period. Cim LLC increased its holdings in Saia by 7.6% in the 2nd quarter. Cim LLC now owns 594 shares of the transportation company’s stock worth $282,000 after acquiring an additional 42 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Saia by 0.4% during the third quarter. Janney Montgomery Scott LLC now owns 15,397 shares of the transportation company’s stock worth $6,732,000 after acquiring an additional 59 shares during the period. Finally, Avior Wealth Management LLC lifted its holdings in Saia by 6.0% during the third quarter. Avior Wealth Management LLC now owns 1,134 shares of the transportation company’s stock valued at $496,000 after purchasing an additional 64 shares in the last quarter.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Benchmark restated a “buy” rating and set a $480.00 price target on shares of Saia in a research report on Thursday, September 19th. Susquehanna restated a “neutral” rating and issued a $530.00 target price (down previously from $565.00) on shares of Saia in a research report on Tuesday. Barclays boosted their price target on Saia from $515.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Evercore ISI decreased their price objective on Saia from $503.00 to $488.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Finally, Stifel Nicolaus lowered shares of Saia from a “buy” rating to a “hold” rating and dropped their target price for the stock from $440.00 to $437.00 in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $511.65.

Insiders Place Their Bets

In other news, EVP Rohit Lal sold 1,120 shares of the business’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 transaction, the executive vice president now owns 8,270 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. 0.30% of the stock is currently owned by corporate insiders.

Saia Trading Down 2.2 %

Shares of NASDAQ:SAIA opened at $448.22 on Thursday. The company has a market cap of $11.92 billion, a PE ratio of 32.02, a P/E/G ratio of 2.96 and a beta of 1.79. The company’s 50 day moving average is $514.18 and its two-hundred day moving average is $459.72. Saia, Inc. has a 52 week low of $358.90 and a 52 week high of $628.34. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.08.

Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Friday, October 25th. The transportation company reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.53 by ($0.07). The business had revenue of $842.10 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $3.67 earnings per share. Equities analysts predict that Saia, Inc. will post 13.51 earnings per share 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.