Raymond James Financial Inc. Makes New $46.51 Million Investment in Saia, Inc. (NASDAQ:SAIA)

Raymond James Financial Inc. purchased a new position in Saia, Inc. (NASDAQ:SAIA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 102,064 shares of the transportation company's stock, valued at approximately $46,514,000. Raymond James Financial Inc. owned about 0.38% of Saia as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Kestra Investment Management LLC purchased a new position in shares of Saia in the fourth quarter valued at about $25,000. Jones Financial Companies Lllp increased its position in shares of Saia by 47.8% in the fourth quarter. Jones Financial Companies Lllp now owns 201 shares of the transportation company's stock valued at $92,000 after acquiring an additional 65 shares during the period. Arcadia Investment Management Corp MI purchased a new position in shares of Saia in the fourth quarter valued at about $154,000. GAMMA Investing LLC increased its position in shares of Saia by 148.0% in the fourth quarter. GAMMA Investing LLC now owns 367 shares of the transportation company's stock valued at $167,000 after acquiring an additional 219 shares during the period. Finally, World Equity Group Inc. purchased a new position in shares of Saia in the fourth quarter valued at about $201,000.

Analyst Upgrades and Downgrades

SAIA has been the topic of a number of analyst reports. Susquehanna boosted their price objective on shares of Saia from $530.00 to $540.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Saia in a research report on Friday, March 7th. They issued a "buy" rating and a $570.00 price objective on the stock. Stephens restated an "overweight" rating and issued a $600.00 price objective on shares of Saia in a research report on Thursday, February 6th. Citigroup reduced their price target on shares of Saia from $544.00 to $498.00 and set a "buy" rating on the stock in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company reduced their price target on shares of Saia from $550.00 to $510.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $526.39.

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Insider Transactions at Saia

In related news, CAO Kelly W. Benton sold 460 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.00, for a total transaction of $230,000.00. Following the transaction, the chief accounting officer now owns 4,287 shares in the company, valued at $2,143,500. This represents a 9.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick J. Holzgrefe III sold 7,534 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $487.34, for a total transaction of $3,671,619.56. Following the transaction, the chief executive officer now owns 17,645 shares in the company, valued at approximately $8,599,114.30. This trade represents a 29.92 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,493 shares of company stock worth $4,646,181. Corporate insiders own 0.30% of the company's stock.

Saia Price Performance

Shares of SAIA opened at $361.59 on Wednesday. The stock has a market cap of $9.63 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.24 and a beta of 1.89. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.26 and a current ratio of 1.57. Saia, Inc. has a fifty-two week low of $358.90 and a fifty-two week high of $624.55. The firm's 50-day simple moving average is $459.97 and its two-hundred day simple moving average is $468.08.

Saia (NASDAQ:SAIA - Get Free Report) last issued its earnings results on Friday, February 7th. The transportation company reported $2.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.87 by ($0.03). The firm had revenue of $789.00 million during the quarter, compared to the consensus estimate of $794.69 million. Saia had a return on equity of 16.63% and a net margin of 11.28%. The company's quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.33 EPS. Analysts anticipate that Saia, Inc. will post 15.46 earnings per share for the current fiscal year.

Saia Profile

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.

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