Bank of New York Mellon Corp reduced its stake in Saia Inc (NASDAQ:SAIA) by 2.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 426,547 shares of the transportation company’s stock after selling 11,868 shares during the quarter. Bank of New York Mellon Corp owned 1.66% of Saia worth $34,488,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Keybank National Association OH acquired a new position in shares of Saia in the 2nd quarter worth approximately $210,000. GSA Capital Partners LLP acquired a new position in shares of Saia in the 2nd quarter worth approximately $347,000. HMS Capital Management LLC acquired a new position in shares of Saia in the 2nd quarter worth approximately $369,000. Meeder Asset Management Inc. lifted its holdings in shares of Saia by 248.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 4,805 shares of the transportation company’s stock worth $388,000 after acquiring an additional 3,427 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Saia in the 2nd quarter worth approximately $439,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.
Several equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Saia from a “buy” rating to a “hold” rating in a report on Thursday, November 8th. Stifel Nicolaus set a $73.00 price objective on shares of Saia and gave the stock a “hold” rating in a report on Thursday, November 1st. Raymond James decreased their price objective on shares of Saia from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, November 1st. Cowen restated a “market perform” rating and issued a $75.00 price objective (down from $84.00) on shares of Saia in a report on Thursday, November 1st. Finally, ValuEngine upgraded shares of Saia from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Saia presently has an average rating of “Hold” and an average target price of $74.13.
Saia (NASDAQ:SAIA) last released its earnings results on Wednesday, October 31st. The transportation company reported $1.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.03. The company had revenue of $425.60 million for the quarter, compared to analyst estimates of $417.70 million. Saia had a net margin of 7.96% and a return on equity of 14.85%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.55 EPS. Equities analysts expect that Saia Inc will post 3.89 earnings per share for the current fiscal year.
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Saia, Inc, through its wholly-owned subsidiaries, operates as a transportation company in North America. The company provides regional and interregional less-than-truckload services for shipments between 100 and 10,000 pounds; truckload services; and other value-added services, including non-asset truckload, expedited, and logistics services.
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