Sendas Distribuidora (NYSE:ASAI) Upgraded 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.com reports. The firm currently has $17.00 target price on the stock, up from their previous target price of $15.00.

Sendas Distribuidora Price Performance

Shares of NYSE ASAI opened at $12.87 on Tuesday. The firm’s 50-day moving average price is $14.12 and its 200-day moving average price is $13.43. Sendas Distribuidora has a 1-year low of $10.44 and a 1-year high of $15.25. The firm has a market capitalization of $3.48 billion, a P/E ratio of 24.28, a P/E/G ratio of 0.67 and a beta of 1.12. 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 (NYSE:ASAI) last posted its earnings results on Wednesday, February 21st. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.98 billion. Sendas Distribuidora had a net margin of 1.07% and a return on equity of 16.78%. Equities research analysts anticipate that Sendas Distribuidora will post 0.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sendas Distribuidora

Hedge funds and other institutional investors have recently made changes to their positions in the business. ANTIPODES PARTNERS Ltd increased its position in shares of Sendas Distribuidora by 22.1% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,189,841 shares of the company’s stock worth $16,443,000 after acquiring an additional 215,324 shares in the last quarter. Citigroup Inc. increased its position in shares of Sendas Distribuidora by 42.1% during the third quarter. Citigroup Inc. now owns 24,219 shares of the company’s stock worth $295,000 after acquiring an additional 7,172 shares in the last quarter. HBK Sorce Advisory LLC grew its position in Sendas Distribuidora by 16.1% in the 4th quarter. HBK Sorce Advisory LLC now owns 12,741 shares of the company’s stock worth $176,000 after purchasing an additional 1,769 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Sendas Distribuidora by 36.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,766 shares of the company’s stock worth $70,000 after purchasing an additional 1,539 shares in the last quarter. Finally, Coronation Fund Managers Ltd. grew its position in Sendas Distribuidora by 6.9% in the 3rd quarter. Coronation Fund Managers Ltd. now owns 8,171,428 shares of the company’s stock worth $99,528,000 after purchasing an additional 527,876 shares in the last quarter. 8.76% of the stock is owned by institutional investors.

Sendas Distribuidora Company Profile

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.