Saia, Inc. (NASDAQ:SAIA) Sees Significant Growth in Short Interest

Saia, Inc. (NASDAQ:SAIA) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totaling 2,037,531 shares, a growth of 39.6% from the December 15th total of 1,459,957 shares. Based on an average daily trading volume, of 396,604 shares, the short-interest ratio is currently 5.1 days. Approximately 7.7% of the company’s shares are sold short. Approximately 7.7% of the company’s shares are sold short. Based on an average daily trading volume, of 396,604 shares, the short-interest ratio is currently 5.1 days.

Analysts Set New Price Targets

Several brokerages have issued reports on SAIA. Redburn Partners set a $262.00 price target on Saia in a research note on Wednesday, November 26th. Benchmark reiterated a “buy” rating on shares of Saia in a research note on Wednesday, December 3rd. UBS Group boosted their target price on shares of Saia from $305.00 to $374.00 and gave the company a “buy” rating in a research report on Friday, October 3rd. Citigroup increased their target price on shares of Saia from $365.00 to $431.00 and gave the stock a “buy” rating in a research note on Wednesday, January 7th. Finally, Rothschild Redb raised shares of Saia to a “hold” rating in a research note on Wednesday, November 26th. Ten investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $343.95.

Insiders Place Their Bets

In other Saia news, Director Donna E. Epps acquired 422 shares of the stock in a transaction dated Wednesday, November 26th. The stock was purchased at an average cost of $277.60 per share, with a total value of $117,147.20. Following the transaction, the director owned 1,852 shares in the company, valued at approximately $514,115.20. The trade was a 29.51% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Raymond R. Ramu sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $266.57, for a total value of $266,570.00. Following the completion of the transaction, the vice president directly owned 4,902 shares in the company, valued at $1,306,726.14. This represents a 16.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Saia

Large investors have recently added to or reduced their stakes in the business. State of Wyoming acquired a new position in Saia during the 3rd quarter valued at about $30,000. Parkside Financial Bank & Trust raised its stake in shares of Saia by 177.5% in the second quarter. Parkside Financial Bank & Trust now owns 111 shares of the transportation company’s stock worth $30,000 after purchasing an additional 71 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Saia by 69.0% in the third quarter. Allworth Financial LP now owns 142 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 58 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of Saia during the second quarter valued at approximately $41,000. Finally, Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Saia by 6,400.0% during the third quarter. Annis Gardner Whiting Capital Advisors LLC now owns 195 shares of the transportation company’s stock valued at $58,000 after buying an additional 192 shares during the last quarter.

Saia Price Performance

Shares of SAIA opened at $350.89 on Friday. The business’s fifty day moving average is $318.53 and its 200 day moving average is $306.37. Saia has a 12-month low of $229.12 and a 12-month high of $538.03. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.09. The stock has a market cap of $9.35 billion, a P/E ratio of 33.13 and a beta of 2.09.

Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Thursday, October 30th. The transportation company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.28. Saia had a net margin of 8.77% and a return on equity of 11.32%. The business had revenue of $839.64 million during the quarter, compared to analyst estimates of $824.06 million. During the same quarter in the previous year, the business posted $3.46 EPS. Saia’s quarterly revenue was down .3% on a year-over-year basis. Sell-side analysts anticipate that Saia will post 15.46 earnings per share for the current fiscal year.

About Saia

Saia, Inc is a publicly traded transportation company specializing in less-than-truckload (LTL) freight services across North America. Headquartered in Johns Creek, Georgia, the company focuses on the efficient movement of time-sensitive freight for a diverse customer base that spans retail, manufacturing, automotive, and healthcare industries. By leveraging a network of terminals and service centers, Saia provides tailored solutions designed to optimize supply chain performance.

The company’s core offerings include regional, interregional, and national LTL shipping, supported by volumetric LTL and port intermodal services.