Sendas Distribuidora (NYSE:ASAI) Upgraded by JPMorgan Chase & Co. to Overweight

Sendas Distribuidora (NYSE:ASAI) was upgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued to investors on Tuesday, MarketBeat reports. The brokerage presently has a $17.00 target price on the stock, up from their previous target price of $15.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 29.67% from the company’s previous close.

Sendas Distribuidora Trading Up 1.6 %

NYSE:ASAI opened at $13.11 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. Sendas Distribuidora has a fifty-two week low of $10.44 and a fifty-two week high of $15.25. The stock’s 50-day moving average is $14.12 and its two-hundred day moving average is $13.42. The stock has a market cap of $3.54 billion, a PE ratio of 24.74, a price-to-earnings-growth ratio of 0.64 and a beta of 1.12.

Sendas Distribuidora (NYSE:ASAI) last released its earnings results on Wednesday, February 21st. The company reported $0.22 earnings per share for the quarter, beating 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 company had revenue of $3.72 billion for the quarter, compared to analysts’ expectations of $3.98 billion. As a group, equities research analysts forecast that Sendas Distribuidora will post 0.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sendas Distribuidora

Institutional investors and hedge funds have recently bought and sold shares of the business. Confluence Investment Management LLC bought a new stake in shares of Sendas Distribuidora in the 1st quarter valued at approximately $171,000. PNC Financial Services Group Inc. grew its stake in shares of Sendas Distribuidora by 29.7% in the 4th 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. Royal London Asset Management Ltd. grew its stake in shares of Sendas Distribuidora by 97.8% in the 4th quarter. Royal London Asset Management Ltd. now owns 61,594 shares of the company’s stock valued at $851,000 after buying an additional 30,450 shares in the last quarter. Breakout Capital Partners LP bought a new stake in shares of Sendas Distribuidora in the 4th quarter valued at approximately $13,347,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Sendas Distribuidora by 535.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,378 shares of the company’s stock valued at $47,000 after buying an additional 2,846 shares in 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.