Saia Inc (NASDAQ:SAIA) Short Interest Update

Saia Inc (NASDAQ:SAIA) was the recipient of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,860,000 shares, a decrease of 12.3% from the September 30th total of 2,120,000 shares. Based on an average daily volume of 299,900 shares, the days-to-cover ratio is currently 6.2 days. Currently, 7.3% of the shares of the company are sold short.

In other Saia news, CEO Richard D. Odell sold 16,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $92.67, for a total transaction of $1,482,720.00. Following the completion of the sale, the chief executive officer now owns 49,551 shares of the company’s stock, valued at $4,591,891.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John J. Holland sold 1,027 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $87.83, for a total value of $90,201.41. The disclosure for this sale can be found here. 1.30% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System boosted its holdings in Saia by 0.7% in the second quarter. Arizona State Retirement System now owns 40,161 shares of the transportation company’s stock valued at $2,597,000 after acquiring an additional 292 shares during the last quarter. Congress Asset Management Co. MA boosted its holdings in Saia by 12.3% in the second quarter. Congress Asset Management Co. MA now owns 46,772 shares of the transportation company’s stock valued at $3,025,000 after acquiring an additional 5,121 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Saia by 11.5% in the second quarter. Envestnet Asset Management Inc. now owns 27,382 shares of the transportation company’s stock valued at $1,771,000 after acquiring an additional 2,828 shares during the last quarter. Virginia Retirement Systems ET AL boosted its holdings in Saia by 78.8% in the third quarter. Virginia Retirement Systems ET AL now owns 14,300 shares of the transportation company’s stock valued at $1,340,000 after acquiring an additional 6,300 shares during the last quarter. Finally, United Capital Financial Advisers LLC boosted its holdings in Saia by 3.7% in the second quarter. United Capital Financial Advisers LLC now owns 13,638 shares of the transportation company’s stock valued at $882,000 after acquiring an additional 490 shares during the last quarter.

SAIA has been the subject of several research reports. Stephens raised Saia from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $75.00 to $96.00 in a research report on Thursday, August 1st. Seaport Global Securities set a $100.00 price objective on Saia and gave the company a “buy” rating in a research report on Wednesday, September 4th. Wolfe Research set a $111.00 price objective on Saia and gave the company a “buy” rating in a research report on Tuesday, September 17th. BidaskClub raised Saia from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 8th. Finally, KeyCorp increased their price objective on Saia from $85.00 to $95.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $88.67.

Shares of SAIA traded down $1.53 during mid-day trading on Friday, hitting $97.12. The company’s stock had a trading volume of 172,700 shares, compared to its average volume of 331,730. The stock’s 50-day moving average is $96.21 and its two-hundred day moving average is $77.95. The firm has a market capitalization of $2.57 billion, a PE ratio of 24.34 and a beta of 1.11. Saia has a one year low of $52.04 and a one year high of $107.00. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.02 and a current ratio of 1.02.

Saia (NASDAQ:SAIA) last posted its quarterly earnings results on Wednesday, October 30th. The transportation company reported $1.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.28 by ($0.03). The firm had revenue of $468.90 million during the quarter, compared to the consensus estimate of $464.97 million. Saia had a net margin of 6.72% and a return on equity of 15.89%. Saia’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.07 EPS. Analysts expect that Saia will post 4.39 EPS for the current fiscal year.

About Saia

Saia, Inc, through its subsidiaries, operates as a transportation company in North America. The company provides regional and interregional 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.

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