Lord Abbett & CO. LLC Lowers Stock Holdings in Saia, Inc. (NASDAQ:SAIA)

Lord Abbett & CO. LLC lessened its position in Saia, Inc. (NASDAQ:SAIA) by 27.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 109,212 shares of the transportation company’s stock after selling 41,648 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Saia were worth $47,754,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. grew its position in Saia by 161.5% in the 2nd quarter. Blue Trust Inc. now owns 68 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 42 shares in the last quarter. Paladin Wealth LLC acquired a new position in shares of Saia in the third quarter valued at approximately $40,000. Quarry LP acquired a new position in shares of Saia in the second quarter valued at approximately $41,000. International Assets Investment Management LLC purchased a new stake in Saia during the 2nd quarter worth approximately $42,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in Saia by 754.5% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 94 shares of the transportation company’s stock worth $45,000 after buying an additional 83 shares in the last quarter.

Wall Street Analysts Forecast Growth

SAIA has been the topic of several analyst reports. The Goldman Sachs Group increased their price objective on Saia from $492.00 to $563.00 and gave the company a “neutral” rating in a research note on Thursday. Jefferies Financial Group raised their target price on shares of Saia from $480.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Benchmark reiterated a “buy” rating and set a $480.00 price target on shares of Saia in a report on Thursday, September 19th. Evercore ISI reduced their price objective on shares of Saia from $503.00 to $488.00 and set an “outperform” rating on the stock in a report on Thursday, October 3rd. Finally, TD Cowen boosted their target price on shares of Saia from $416.00 to $418.00 and gave the stock a “hold” rating in a research note on Thursday, September 5th. One 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $514.88.

Saia Price Performance

SAIA stock opened at $528.65 on Friday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $14.06 billion, a P/E ratio of 37.76, a PEG ratio of 2.92 and a beta of 1.74. The business has a 50 day simple moving average of $503.01 and a 200-day simple moving average of $455.16. Saia, Inc. has a twelve month low of $358.90 and a twelve month high of $628.34.

Saia (NASDAQ:SAIA) last issued its quarterly earnings results on Friday, October 25th. The transportation company reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.53 by ($0.07). Saia had a return on equity of 18.00% and a net margin of 11.83%. The business had revenue of $842.10 million for the quarter, compared to analyst estimates of $839.82 million. During the same quarter in the prior year, the company earned $3.67 EPS. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. As a group, equities analysts anticipate that Saia, Inc. will post 13.52 EPS for the current year.

Insider Transactions at Saia

In related news, EVP Rohit Lal sold 1,120 shares of Saia stock in a transaction 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 transaction, the executive vice president now directly owns 8,270 shares in the company, valued at $4,631,200. This trade represents a 11.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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.