CIBC Private Wealth Group LLC Decreases Holdings in Saia, Inc. (NASDAQ:SAIA)

CIBC Private Wealth Group LLC lessened its holdings in shares of Saia, Inc. (NASDAQ:SAIA) by 2.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,172 shares of the transportation company’s stock after selling 1,754 shares during the period. CIBC Private Wealth Group LLC’s holdings in Saia were worth $30,108,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SAIA. Oddo BHF Asset Management Sas purchased a new stake in Saia in the third quarter valued at about $1,408,000. Highview Capital Management LLC DE purchased a new stake in Saia during the 4th quarter worth approximately $1,324,000. Y Intercept Hong Kong Ltd acquired a new position in Saia during the 4th quarter valued at approximately $3,363,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Saia by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 226,137 shares of the transportation company’s stock worth $103,057,000 after buying an additional 4,972 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Saia by 13.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,804 shares of the transportation company’s stock worth $3,101,000 after buying an additional 788 shares during the period.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SAIA. TD Cowen raised their target price on Saia from $456.00 to $478.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. JPMorgan Chase & Co. decreased their target price on Saia from $566.00 to $558.00 and set an “overweight” rating for the company in a report on Tuesday, February 4th. Bank of America dropped their target price on Saia from $565.00 to $484.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Stifel Nicolaus upgraded shares of Saia from a “hold” rating to a “buy” rating and set a $524.00 price objective for the company in a research note on Monday, February 24th. Finally, Barclays cut their price objective on shares of Saia from $600.00 to $535.00 and set an “overweight” rating on the stock in a research note on Monday, March 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Saia currently has an average rating of “Moderate Buy” and a consensus target price of $513.06.

Insider Activity

In other Saia news, CFO Matthew J. Batteh sold 700 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.09, for a total value of $350,063.00. Following the transaction, the chief financial officer now owns 3,326 shares in the company, valued at approximately $1,663,299.34. This trade represents a 17.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Kelly W. Benton sold 460 shares of Saia stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $500.00, for a total transaction of $230,000.00. Following the sale, the chief accounting officer now directly owns 4,287 shares in the company, valued at approximately $2,143,500. This trade represents a 9.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,493 shares of company stock worth $4,646,181 over the last quarter. 0.30% of the stock is currently owned by corporate insiders.

Saia Stock Performance

NASDAQ:SAIA opened at $349.43 on Tuesday. The company has a fifty day moving average of $428.96 and a two-hundred day moving average of $464.56. Saia, Inc. has a fifty-two week low of $342.68 and a fifty-two week high of $624.55. The stock has a market capitalization of $9.30 billion, a PE ratio of 25.86, a P/E/G 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 (NASDAQ:SAIA) last issued its quarterly earnings results on Friday, February 7th. The transportation company reported $2.84 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.03). Saia had a net margin of 11.28% and a return on equity of 16.63%. The company had revenue of $789.00 million during the quarter, compared to analysts’ expectations of $794.69 million. During the same period in the prior year, the business posted $3.33 earnings per share. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. As a group, research analysts forecast that Saia, Inc. will post 15.46 earnings per share for the current fiscal year.

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.