Saia

Saia shares rose 3.7% after BofA Securities upgraded the rating from 'Neutral' to 'Buy' and raised the price target from $499 to $502. BofA cites constructive demand signals from its own truck-shipper survey and upside for service, productivity and earnings in the LTL business. Analyst Ken Hoexter points to an attractive valuation: Saia is trading at 29 times EPS for 2027, a sizable discount to peers, and available network capacity of 20–25% should allow market-share gains if demand recovers. » More on de.investing.com

Saia posted 8.4% year-over-year tonnage growth in May as shipments rose 3.7% and weight per shipment increased 4.5%, while two-year stacked tonnage slowed to 8% in May. The company said Q2 guidance implies a sequential operating margin improvement that would produce a year-over-year margin gain for the first time in over two years. Contractual rate renewals averaged 6.7% in Q1 and higher shipment weights signal improving LTL pricing; Saia noted margin pressure from a large terminal expansion is easing as about 40 new locations operated profitably in Q1. » More on finance.yahoo.com

Saia launched a service center in Marysville, Washington (serving the Seattle area) and a new terminal in Edinburgh, Indiana (near Indianapolis), expanding its Pacific Northwest and Midwest coverage. The company recently opened a 74-door terminal in York, Pennsylvania and has grown its network to 216 terminals after investing more than $2 billion. Saia also integrated about 30 terminals acquired from Yellow, aiming to increase density and routing efficiency for shippers. » More on finance.yahoo.com