Sendas Distribuidora (NYSE:ASAI) Stock Rating Upgraded by JPMorgan Chase & Co.

Sendas Distribuidora (NYSE:ASAI) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research note issued on Tuesday, Marketbeat.com reports. The brokerage presently has a $17.00 price objective on the stock, up from their prior price objective of $15.00. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 26.87% from the stock’s previous close.

Sendas Distribuidora Stock Performance

Shares of ASAI opened at $13.40 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 one year low of $10.44 and a one year high of $15.25. The company has a 50-day simple moving average of $14.13 and a two-hundred day simple moving average of $13.43. The firm has a market capitalization of $3.62 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 0.65 and a beta of 1.12.

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

Institutional Investors Weigh In On Sendas Distribuidora

Several institutional investors and hedge funds have recently made changes to their positions in ASAI. Ronald Blue Trust Inc. bought a new stake in Sendas Distribuidora in the 3rd quarter worth approximately $35,000. Tower Research Capital LLC TRC boosted its stake in shares of Sendas Distribuidora by 535.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,378 shares of the company’s stock worth $47,000 after acquiring an additional 2,846 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Sendas Distribuidora during the 3rd quarter worth $52,000. Signaturefd LLC boosted its stake in shares of Sendas Distribuidora by 45.4% during the 3rd quarter. Signaturefd LLC now owns 5,329 shares of the company’s stock worth $65,000 after acquiring an additional 1,665 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of 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 acquiring an additional 1,539 shares during the last quarter. 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.