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

SAIA has been the subject of several research reports. Morgan Stanley raised their price target on Saia from $60.00 to $70.00 and gave the company an “underweight” rating in a report on Thursday, November 7th. Buckingham Research increased their price objective on Saia from $76.00 to $87.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Seaport Global Securities set a $100.00 price objective on Saia and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Stifel Nicolaus increased their price objective on Saia from $66.00 to $77.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Finally, BidaskClub upgraded Saia from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Saia currently has a consensus rating of “Buy” and a consensus price target of $88.67.

In other Saia news, Director John J. Holland sold 1,027 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $87.83, for a total transaction of $90,201.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard D. Odell sold 16,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $92.67, for a total value of $1,482,720.00. Following the sale, the chief executive officer now directly owns 49,551 shares of the company’s stock, valued at approximately $4,591,891.17. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System boosted its stake in shares of Saia by 0.7% during the second quarter. Arizona State Retirement System now owns 40,161 shares of the transportation company’s stock valued at $2,597,000 after purchasing an additional 292 shares in the last quarter. Congress Asset Management Co. MA boosted its stake in shares of Saia by 12.3% during 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 purchasing an additional 5,121 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Saia by 11.5% during the second quarter. Envestnet Asset Management Inc. now owns 27,382 shares of the transportation company’s stock valued at $1,771,000 after purchasing an additional 2,828 shares in the last quarter. Virginia Retirement Systems ET AL boosted its stake in shares of Saia by 78.8% during 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 purchasing an additional 6,300 shares in the last quarter. Finally, United Capital Financial Advisers LLC boosted its stake in shares of Saia by 3.7% during the second quarter. United Capital Financial Advisers LLC now owns 13,638 shares of the transportation company’s stock valued at $882,000 after purchasing an additional 490 shares in the last quarter.

SAIA stock traded down $1.53 during trading hours on Friday, hitting $97.12. 172,700 shares of the stock were exchanged, compared to its average volume of 329,285. The company has a 50-day simple moving average of $96.21 and a two-hundred day simple moving average of $77.95. Saia has a 12 month low of $52.04 and a 12 month high of $107.00. The firm has a market capitalization of $2.56 billion, a P/E ratio of 24.34 and a beta of 1.11. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.18.

Saia (NASDAQ:SAIA) last announced its quarterly earnings results on Wednesday, October 30th. The transportation company reported $1.25 EPS for the quarter, missing the Zacks’ consensus estimate of $1.28 by ($0.03). Saia had a net margin of 6.72% and a return on equity of 15.89%. The firm had revenue of $468.90 million for the quarter, compared to analyst estimates of $464.97 million. During the same period in the previous year, the business posted $1.07 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that Saia will post 4.39 earnings per share for the current 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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