Sendas Distribuidora (OTCMKTS:ASAIY) Shares Gap Up – Here’s Why

Sendas Distribuidora S.A. Sponsored ADR (OTCMKTS:ASAIY)’s share price gapped up before the market opened on Monday . The stock had previously closed at $7.53, but opened at $7.90. Sendas Distribuidora shares last traded at $7.70, with a volume of 2,720 shares trading hands.

Analysts Set New Price Targets

Separately, Zacks Research downgraded shares of Sendas Distribuidora from a “hold” rating to a “strong sell” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Sendas Distribuidora presently has an average rating of “Reduce”.

Sendas Distribuidora Price Performance

The company has a 50 day simple moving average of $8.07 and a 200-day simple moving average of $8.51. The stock has a market capitalization of $2.10 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 0.12 and a beta of 0.66.

Sendas Distribuidora (OTCMKTS:ASAIY) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.10. Sendas Distribuidora had a return on equity of 12.64% and a net margin of 1.27%. As a group, equities analysts forecast that Sendas Distribuidora S.A. Sponsored ADR will post 1.25 earnings per share for the current fiscal year.

Sendas Distribuidora Company Profile

Sendas Distribuidora SA is a Brazilian retail and distribution company that operates in the grocery and consumer goods sector. The company’s core activities include operating retail outlets and managing distribution operations that supply food, beverages, household products and personal-care items to end consumers and commercial customers. Its business model centers on combining in-store retailing with logistics and supply-chain services to move fast?moving consumer goods across its network.

Product categories handled by Sendas typically include fresh and packaged foods, dairy and frozen goods, beverages, cleaning and household supplies, and health and beauty products.