Sendas Distribuidora (NYSE:ASAI) Shares Gap Up to $8.78

Shares of Sendas Distribuidora S.A. (NYSE:ASAI) gapped up before the market opened on Wednesday . The stock had previously closed at $8.78, but opened at $9.25. Sendas Distribuidora shares last traded at $9.28, with a volume of 52,625 shares trading hands.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. upgraded shares of Sendas Distribuidora from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $15.00 to $17.00 in a research report on Tuesday, April 23rd.

Sendas Distribuidora Stock Up 5.5 %

The stock has a market capitalization of $2.50 billion, a P/E ratio of 16.57, a P/E/G ratio of 0.40 and a beta of 1.05. The company’s 50-day moving average price is $11.83 and its 200 day moving average price is $13.25. The company has a debt-to-equity ratio of 4.10, a quick ratio of 0.39 and a current ratio of 0.77.

Sendas Distribuidora (NYSE:ASAI) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.36 billion. Sendas Distribuidora had a net margin of 1.02% and a return on equity of 15.74%. As a group, equities analysts expect that Sendas Distribuidora S.A. will post 0.58 earnings per share for the current year.

Institutional Trading of Sendas Distribuidora

A number of institutional investors and hedge funds have recently bought and sold shares of ASAI. Breakout Capital Partners LP bought a new stake in Sendas Distribuidora in the 4th quarter valued at $13,347,000. Royal London Asset Management Ltd. increased its holdings in Sendas Distribuidora by 888.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 307,970 shares of the company’s stock valued at $4,256,000 after acquiring an additional 276,826 shares during the last quarter. ANTIPODES PARTNERS Ltd increased its holdings in Sendas Distribuidora by 22.1% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 1,189,841 shares of the company’s stock valued at $16,443,000 after acquiring an additional 215,324 shares during the last quarter. Brandes Investment Partners LP increased its holdings in Sendas Distribuidora by 146.1% in the 4th quarter. Brandes Investment Partners LP now owns 176,981 shares of the company’s stock valued at $2,446,000 after acquiring an additional 105,073 shares during the last quarter. Finally, Barings LLC grew its stake in shares of Sendas Distribuidora by 28.9% in the 1st quarter. Barings LLC now owns 403,015 shares of the company’s stock worth $5,957,000 after buying an additional 90,256 shares in the last quarter. 8.76% of the stock is currently owned by institutional investors.

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.