Appian Way Asset Management LP Takes Position in Saia, Inc. (NASDAQ:SAIA)

Appian Way Asset Management LP purchased a new stake in Saia, Inc. (NASDAQ:SAIA) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,274 shares of the transportation company’s stock, valued at approximately $7,116,000. Saia accounts for approximately 1.6% of Appian Way Asset Management LP’s portfolio, making the stock its 17th biggest holding. Appian Way Asset Management LP owned 0.06% of Saia as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SAIA. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Saia by 5.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 77,447 shares of the transportation company’s stock worth $33,864,000 after acquiring an additional 3,901 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Saia by 1.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,016 shares of the transportation company’s stock worth $2,631,000 after purchasing an additional 114 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of Saia in the third quarter valued at approximately $854,000. Glenmede Trust Co. NA grew its position in shares of Saia by 47.2% in the third quarter. Glenmede Trust Co. NA now owns 652 shares of the transportation company’s stock valued at $285,000 after purchasing an additional 209 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Saia by 61.7% in the third quarter. BNP Paribas Financial Markets now owns 3,698 shares of the transportation company’s stock valued at $1,617,000 after purchasing an additional 1,411 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have commented on SAIA. Bank of America lifted their target price on Saia from $443.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. JPMorgan Chase & Co. boosted their price target on shares of Saia from $479.00 to $481.00 and gave the stock an “overweight” rating in a research note on Friday, September 6th. Barclays boosted their price objective on Saia from $515.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Stifel Nicolaus lowered shares of Saia from a “buy” rating to a “hold” rating and reduced their price objective for the company from $440.00 to $437.00 in a report on Monday, October 21st. Finally, Wells Fargo & Company boosted their target price on shares of Saia from $400.00 to $410.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $506.00.

Saia Trading Up 0.8 %

Shares of SAIA stock opened at $569.08 on Friday. The stock has a market cap of $15.13 billion, a P/E ratio of 40.65, a P/E/G ratio of 3.11 and a beta of 1.73. Saia, Inc. has a fifty-two week low of $358.90 and a fifty-two week high of $628.34. The business has a fifty day simple moving average of $484.51 and a 200-day simple moving average of $445.47. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.08.

Saia (NASDAQ:SAIA) last issued its quarterly earnings data on Friday, October 25th. The transportation company reported $3.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.53 by ($0.07). Saia had a net margin of 11.83% and a return on equity of 18.00%. The company had revenue of $842.10 million during the quarter, compared to analysts’ expectations of $839.82 million. During the same quarter in the prior year, the company earned $3.67 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. On average, analysts forecast that Saia, Inc. will post 13.54 earnings per share for the current fiscal year.

Insider Activity

In other Saia news, EVP Rohit Lal sold 1,120 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $560.00, for a total value of $627,200.00. Following the completion of the sale, the executive vice president now owns 8,270 shares of the company’s stock, valued at $4,631,200. This trade represents a 11.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

About Saia

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.