Sendas Distribuidora (NYSE:ASAI) Lifted to “Overweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Sendas Distribuidora (NYSE:ASAI) from a neutral rating to an overweight rating in a report published on Tuesday, Marketbeat.com reports. JPMorgan Chase & Co. currently has $17.00 target price on the stock, up from their previous target price of $15.00.

Sendas Distribuidora Stock Up 1.2 %

Shares of NYSE:ASAI opened at $13.02 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.48 and a debt-to-equity ratio of 4.69. Sendas Distribuidora has a 12 month low of $10.44 and a 12 month high of $15.25. The company has a market cap of $3.52 billion, a price-to-earnings ratio of 24.57, a PEG ratio of 0.67 and a beta of 1.12. The company has a 50-day moving average price of $14.10 and a 200 day moving average price of $13.44.

Sendas Distribuidora (NYSE:ASAI) last posted its quarterly earnings data on Wednesday, February 21st. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. Sendas Distribuidora had a net margin of 1.07% and a return on equity of 16.78%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.98 billion. As a group, equities research analysts predict that Sendas Distribuidora will post 0.61 earnings per share for the current year.

Institutional Trading of Sendas Distribuidora

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. purchased a new position in shares of Sendas Distribuidora during the third quarter worth approximately $35,000. Coronation Fund Managers Ltd. increased its position in shares of Sendas Distribuidora by 6.9% during the third quarter. Coronation Fund Managers Ltd. now owns 8,171,428 shares of the company’s stock worth $99,528,000 after acquiring an additional 527,876 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Sendas Distribuidora by 8.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,608 shares of the company’s stock worth $300,000 after acquiring an additional 1,865 shares during the period. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Sendas Distribuidora during the third quarter worth approximately $172,000. Finally, Signaturefd LLC increased its position in shares of Sendas Distribuidora by 45.4% during the third quarter. Signaturefd LLC now owns 5,329 shares of the company’s stock worth $65,000 after acquiring an additional 1,665 shares during the period. 8.76% of the stock is owned by hedge funds and other institutional investors.

Sendas Distribuidora Company Profile

Sendas Distribuidora SA engages in the retail and wholesale sale of food products, bazaar items, and other products in Brazil. The company serves restaurants, pizzerias, snack bars, schools, small businesses, religious institutions, hospitals, hotels, grocery stores, neighborhood supermarkets, and individuals.