Shellback Capital LP Takes Position in Saia, Inc. (NASDAQ:SAIA)

Shellback Capital LP purchased a new position in shares of Saia, Inc. (NASDAQ:SAIA) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 14,500 shares of the transportation company’s stock, valued at approximately $6,877,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SAIA. Pineridge Advisors LLC bought a new stake in shares of Saia in the 4th quarter worth approximately $26,000. Core Wealth Advisors Inc. bought a new stake in Saia in the 4th quarter valued at about $32,000. Blue Trust Inc. lifted its holdings in Saia by 161.5% during the second quarter. Blue Trust Inc. now owns 68 shares of the transportation company’s stock valued at $32,000 after purchasing an additional 42 shares during the last quarter. Rise Advisors LLC bought a new position in Saia during the first quarter worth about $40,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Saia during the 2nd quarter valued at approximately $42,000.

Saia Stock Down 4.2 %

Shares of Saia stock opened at $431.28 on Friday. Saia, Inc. has a 1 year low of $341.26 and a 1 year high of $628.34. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market cap of $11.47 billion, a price-to-earnings ratio of 31.25, a PEG ratio of 2.09 and a beta of 1.74. The firm’s 50-day moving average is $410.74 and its two-hundred day moving average is $458.32.

Saia (NASDAQ:SAIA) last posted 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 company had revenue of $823.24 million during 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%. As a group, research analysts expect that Saia, Inc. will post 13.91 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SAIA. Susquehanna raised their price target on Saia from $550.00 to $585.00 and gave the stock a “positive” rating in a report on Wednesday, September 18th. Wells Fargo & Company boosted their target price on Saia from $400.00 to $410.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. Raymond James decreased their price target on shares of Saia from $540.00 to $520.00 and set an “outperform” rating on the stock in a research note on Monday, June 24th. Barclays decreased their price objective on Saia from $575.00 to $515.00 and set an “overweight” rating on the stock in a report on Monday, July 29th. Finally, JPMorgan Chase & Co. lifted their price target on Saia from $479.00 to $481.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Saia presently has an average rating of “Hold” and a consensus target price of $479.07.

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.