Sendas Distribuidora (NYSE:ASAI) Upgraded 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 released on Tuesday morning, MarketBeat reports. The brokerage currently has $17.00 price target on the stock, up from their prior price target of $15.00.

Sendas Distribuidora Price Performance

Sendas Distribuidora stock opened at $13.40 on Tuesday. The stock has a market cap of $3.62 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12. The company has a fifty day simple moving average of $14.13 and a 200-day simple moving average of $13.43. The company has a current ratio of 0.89, a quick ratio of 0.48 and a debt-to-equity ratio of 4.69. Sendas Distribuidora has a 12-month low of $10.44 and a 12-month high of $15.25.

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

Institutional Trading of Sendas Distribuidora

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASAI. Ronald Blue Trust Inc. purchased a new position in shares of Sendas Distribuidora in the 3rd quarter valued at $35,000. Tower Research Capital LLC TRC increased its position in shares of Sendas Distribuidora by 535.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,378 shares of the company’s stock worth $47,000 after purchasing an additional 2,846 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Sendas Distribuidora in the 3rd quarter valued at about $52,000. Signaturefd LLC boosted its position in shares of Sendas Distribuidora by 45.4% in the 3rd quarter. Signaturefd LLC now owns 5,329 shares of the company’s stock valued at $65,000 after purchasing an additional 1,665 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in Sendas Distribuidora by 36.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 5,766 shares of the company’s stock worth $70,000 after buying an additional 1,539 shares during the last quarter. Institutional investors and hedge funds 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.