Capital Research & Management Co recently announced the acquisition of new stake in Saia Inc. (NASDAQ:SAIA). The institutional investor has increased its shareholding in the Industrials company by 55.73% to 2.74 million shares with purchase of 0.98 million shares. This fresh investment now brings its stake to 10.36% valued currently at $574.86 million. In addition, SSgA Funds Management, Inc. raised its holdings by 652.0 to 0.88 million shares.
With over 0.28 million Saia Inc. (SAIA) shares trading Friday and a closing price of $242.09 on the day, the dollar volume was approximately $67.04 million. The shares have shown a positive half year performance of 23.72% and its price on 01/13/23 gained nearly 0.87%. Currently, there are 26.54M common shares owned by the public and among those 26.30M shares have been available to trade.
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Insiders at the company have transacted a total of 57 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 27 of these insider trades were purchases, accounting for 118,974 shares. Insider sales of the common stock occurred on 30 occasions, with total insider shares sold totaling 115,945 shares.
The top 3 mutual fund holders in Saia Inc. are T Rowe Price New Horizons Fund, American Funds Small Cap World Fu, and American Funds Growth Fund of Ame. T Rowe Price New Horizons Fund owns 2.07 million shares of the company’s stock, all valued at over $434.15 million. The company bought an additional 0.39 million shares recently to bring their total holdings to about 7.82% of the shares outstanding. American Funds Small Cap World Fu bought 87304.0 shares to see its total holdings expand to 1.97 million shares valued at over $412.13 million and representing 7.43% of the shares outstanding. American Funds Growth Fund of Ame bought 0.82 million shares to bring its total holdings to over 1.02 million shares at a value of $213.09 million. American Funds Growth Fund of Ame now owns shares totaling to 3.84% of the shares outstanding.
Shares of Saia Inc. (NASDAQ: SAIA) opened at $238.49, down -$1.51 from a prior closing price of $240.00. However, the script later moved the day high at 242.16, up 0.87%. The company’s stock has a 5-day price change of 8.68% and 19.94% over the past three months. SAIA shares are trading 15.46% year to date (YTD), with the 12-month market performance down to -14.47% lower. It has a 12-month low price of $168.03 and touched a high of $304.48 over the same period. SAIA has an average intraday trading volume of 395.00K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.59%, 6.64%, and 14.41% respectively.
Institutional ownership of Saia Inc. (NASDAQ: SAIA) 26.54M shares outstanding. Mutual fund holders own 76.96%, while other institutional holders and individual stakeholders account for 9.67% and 35.69% respectively.
It has a market capitalization of $6.35B and a beta (3y monthly) value of 1.46. The stock’s trailing 12-month PE ratio is 17.93, while the earnings-per-share (ttm) stands at $13.50. The company has a PEG of 1.20 and a Quick Ratio of 1.60 with the debt-to-equity ratio at 0.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.98% over the week and 3.98% over the month.
Analysts forecast that Saia Inc. (SAIA) will achieve an EPS of $3.7 for the current quarter, $3.02 for the next quarter and $13.14 for 2023. The lowest estimate earnings-per-share for the quarter is $3.53 while analysts give the company a high EPS estimate of $3.8. Comparatively, EPS for the current quarter was $2.86 a year ago. Earnings per share for the fiscal year are expected to increase by 82.30%, and -6.59% over the next financial year. EPS should shrink at an annualized rate of 14.99% over the next five years, compared to 38.40% over the past 5-year period.
Looking at the support for the SAIA, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on January 09, 2023, with the firm’s price target at $185. BofA Securities coverage for the Saia Inc. (SAIA) stock in a research note released on December 01, 2022 offered a Underperform rating with a price target of $215. Wolfe Research was of a view on November 17, 2022 that the stock is Peer Perform, while Evercore ISI gave the stock In-line rating on August 22, 2022, issuing a price target of $243. Credit Suisse on their part issued Outperform rating on June 28, 2022.
