Sendas Distribuidora (NYSE:ASAI) Stock Price Up 4.9% – Here’s Why

Sendas Distribuidora S.A. (NYSE:ASAI) rose 4.9% during trading on Monday . The company traded as high as $6.65 and last traded at $6.64. Approximately 35,329 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 369,756 shares. The stock had previously closed at $6.33.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on ASAI shares. JPMorgan Chase & Co. downgraded shares of Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price for the company. in a research note on Monday, September 9th. Bank of America downgraded Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price objective for the company. in a research note on Friday, September 13th. Finally, Hsbc Global Res upgraded Sendas Distribuidora to a “strong-buy” rating in a research note on Tuesday, September 24th.

Sendas Distribuidora Stock Down 0.2 %

The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.51 and a beta of 1.03. 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 firm’s 50 day simple moving average is $7.16 and its 200-day simple moving average is $9.56.

Sendas Distribuidora (NYSE:ASAI) last posted its quarterly 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, sell-side analysts anticipate that Sendas Distribuidora S.A. will post 0.46 EPS for the current fiscal year.

Institutional Trading of Sendas Distribuidora

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in Sendas Distribuidora by 145.6% in the third quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock valued at $26,000 after buying an additional 2,203 shares in the last quarter. Privium Fund Management B.V. increased its stake in Sendas Distribuidora by 26.3% in the 2nd quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock valued at $122,000 after purchasing an additional 2,900 shares in the last quarter. SageView Advisory Group LLC acquired a new position in Sendas Distribuidora during the first quarter worth $69,000. AQR Capital Management LLC boosted its position in Sendas Distribuidora by 44.4% during the second quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock worth $184,000 after purchasing an additional 6,068 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in Sendas Distribuidora by 186.4% in the third quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock valued at $69,000 after purchasing an additional 6,567 shares during the last quarter. Hedge funds and other institutional investors own 8.76% of the company’s stock.

About Sendas Distribuidora

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.