Sendas Distribuidora (NYSE:ASAI) Upgraded by JPMorgan Chase & Co. to Overweight

Sendas Distribuidora (NYSE:ASAI) was upgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm currently has a $17.00 target price on the stock, up from their previous target price of $15.00. JPMorgan Chase & Co.‘s price target points to a potential upside of 29.67% from the stock’s previous close.

Sendas Distribuidora Stock Up 1.6 %

Shares of Sendas Distribuidora stock opened at $13.11 on Tuesday. The company has a market cap of $3.54 billion, a P/E ratio of 24.74, a PEG ratio of 0.64 and a beta of 1.12. The company has a debt-to-equity ratio of 4.69, a quick ratio of 0.48 and a current ratio of 0.89. Sendas Distribuidora has a one year low of $10.44 and a one year high of $15.25. The firm has a fifty day moving average of $14.12 and a two-hundred day moving average of $13.42.

Sendas Distribuidora (NYSE:ASAI) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.98 billion. Sendas Distribuidora had a net margin of 1.07% and a return on equity of 16.78%. On average, analysts forecast that Sendas Distribuidora will post 0.61 earnings per share for the current year.

Hedge Funds Weigh In On Sendas Distribuidora

A number of large investors have recently made changes to their positions in the stock. Coronation Fund Managers Ltd. increased its holdings in shares of Sendas Distribuidora by 6.9% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 8,171,428 shares of the company’s stock valued at $99,528,000 after purchasing an additional 527,876 shares in the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in shares of Sendas Distribuidora by 22.1% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,189,841 shares of the company’s stock valued at $16,443,000 after purchasing an additional 215,324 shares in the last quarter. Breakout Capital Partners LP purchased a new position in shares of Sendas Distribuidora in the 4th quarter valued at about $13,347,000. Renaissance Group LLC grew its stake in Sendas Distribuidora by 6.5% in the 3rd quarter. Renaissance Group LLC now owns 505,645 shares of the company’s stock valued at $6,147,000 after acquiring an additional 30,777 shares during the last quarter. Finally, Barings LLC grew its stake in Sendas Distribuidora by 17.6% in the 4th quarter. Barings LLC now owns 312,759 shares of the company’s stock valued at $4,322,000 after acquiring an additional 46,818 shares during the last quarter. Hedge funds and other institutional investors own 8.76% of the company’s stock.

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.