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 research report report published on Tuesday, Marketbeat.com reports. They currently have $17.00 price target on the stock, up from their prior price target of $15.00.

Sendas Distribuidora Stock Performance

NYSE:ASAI opened at $13.02 on Tuesday. The company has a debt-to-equity ratio of 4.69, a current ratio of 0.89 and a quick ratio of 0.48. The firm has a market capitalization 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’s 50-day moving average is $14.10 and its two-hundred day moving average is $13.44. Sendas Distribuidora has a 1-year low of $10.44 and a 1-year high of $15.25.

Sendas Distribuidora (NYSE:ASAI) last issued its quarterly earnings data on Wednesday, February 21st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. Sendas Distribuidora had a net margin of 1.07% and a return on equity of 16.78%. The firm had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.98 billion. Analysts forecast that Sendas Distribuidora will post 0.61 EPS for the current year.

Institutional Investors Weigh In On Sendas Distribuidora

A number of large investors have recently modified their holdings of the company. Coronation Fund Managers Ltd. increased its position 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 during the last quarter. ANTIPODES PARTNERS Ltd increased its position 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 during the last quarter. Breakout Capital Partners LP purchased a new stake in shares of Sendas Distribuidora in the 4th quarter valued at approximately $13,347,000. Renaissance Group LLC increased its position in shares of Sendas Distribuidora by 6.8% in the 1st quarter. Renaissance Group LLC now owns 531,101 shares of the company’s stock valued at $7,876,000 after purchasing an additional 33,937 shares during the last quarter. Finally, Barings LLC increased its position in shares of 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 purchasing an additional 46,818 shares during the last quarter. 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.