Shell Asset Management Co. Has $529,000 Stake in Saia, Inc. (NASDAQ:SAIA)

Shell Asset Management Co. lowered its stake in shares of Saia, Inc. (NASDAQ:SAIA) by 3.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 904 shares of the transportation company’s stock after selling 33 shares during the quarter. Shell Asset Management Co.’s holdings in Saia were worth $529,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. MQS Management LLC acquired a new stake in shares of Saia during the 1st quarter worth $257,000. Pitcairn Co. grew its stake in Saia by 5.9% during the first quarter. Pitcairn Co. now owns 2,874 shares of the transportation company’s stock worth $1,681,000 after buying an additional 160 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Saia during the first quarter worth about $198,000. Clearbridge Investments LLC bought a new position in Saia in the 1st quarter valued at about $27,733,000. Finally, Seven Eight Capital LP acquired a new position in shares of Saia in the 1st quarter valued at approximately $588,000.

Saia Trading Down 17.9 %

Shares of Saia stock traded down $87.61 during trading on Friday, hitting $401.50. The company’s stock had a trading volume of 1,445,684 shares, compared to its average volume of 386,062. The stock has a market cap of $10.68 billion, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 1.72 and a beta of 1.72. Saia, Inc. has a 52 week low of $341.26 and a 52 week high of $628.34. The stock has a 50-day moving average price of $447.41 and a two-hundred day moving average price of $492.93. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.23 and a quick ratio of 1.23.

Saia (NASDAQ:SAIA) last released its quarterly earnings results on Friday, April 26th. The transportation company reported $3.38 EPS for the quarter, missing analysts’ consensus estimates of $3.43 by ($0.05). The company had revenue of $754.80 million during the quarter, compared to the consensus estimate of $772.36 million. Saia had a net margin of 12.42% and a return on equity of 19.53%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.85 EPS. Equities research analysts anticipate that Saia, Inc. will post 15.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Saia from $504.00 to $567.00 and gave the stock a “neutral” rating in a research report on Thursday, April 11th. Stifel Nicolaus raised Saia from a “hold” rating to a “buy” rating and reduced their target price for the company from $526.00 to $475.00 in a report on Friday, May 24th. Wolfe Research cut Saia from an “outperform” rating to a “peer perform” rating in a report on Thursday, April 11th. Bank of America raised their price objective on Saia from $501.00 to $555.00 and gave the company a “buy” rating in a research note on Monday. Finally, Wells Fargo & Company began coverage on Saia in a research report on Friday, June 7th. They issued an “equal weight” rating and a $445.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Saia currently has an average rating of “Hold” and an average target price of $502.18.

Insider Transactions at Saia

In related news, Director John P. Gainor, Jr. bought 500 shares of Saia stock in a transaction that occurred on Thursday, May 2nd. The shares were acquired at an average cost of $407.00 per share, for a total transaction of $203,500.00. Following the completion of the acquisition, the director now directly owns 900 shares of the company’s stock, valued at approximately $366,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by corporate insiders.

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.