Sendas Distribuidora (NYSE:ASAI) Rating Lowered to Neutral at Bank of America

Bank of America lowered shares of Sendas Distribuidora (NYSE:ASAI) from a buy rating to a neutral rating in a research note published on Friday morning, MarketBeat reports. They currently have $9.10 price objective on the stock.

Separately, JPMorgan Chase & Co. cut shares of Sendas Distribuidora from an overweight rating to a neutral rating and set a $10.50 target price for the company. in a report on Monday, September 9th.

Sendas Distribuidora Trading Up 1.0 %

NYSE:ASAI opened at $7.94 on Friday. Sendas Distribuidora has a 12 month low of $7.72 and a 12 month high of $15.25. The firm has a fifty day simple moving average of $9.05 and a 200-day simple moving average of $11.41. The company has a current ratio of 0.84, a quick ratio of 0.45 and a debt-to-equity ratio of 4.18. The company has a market capitalization of $2.15 billion, a P/E ratio of 14.98, a PEG ratio of 0.58 and a beta of 1.04.

Sendas Distribuidora (NYSE:ASAI) last issued its earnings results on Thursday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. Sendas Distribuidora had a net margin of 0.95% and a return on equity of 14.49%. The firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.60 billion. On average, equities research analysts anticipate that Sendas Distribuidora will post 0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SageView Advisory Group LLC purchased a new position in Sendas Distribuidora in the first quarter valued at $69,000. PNC Financial Services Group Inc. increased its holdings in Sendas Distribuidora by 29.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock valued at $103,000 after buying an additional 1,713 shares in the last quarter. Privium Fund Management B.V. increased its holdings in Sendas Distribuidora by 26.3% in the second quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock valued at $122,000 after buying an additional 2,900 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of Sendas Distribuidora during the fourth quarter worth about $143,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Sendas Distribuidora during the first quarter worth about $160,000. 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.