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

Sendas Distribuidora (NYSE:ASAI) was upgraded by equities research 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 firm presently has a $17.00 target price on the stock, up from their prior target price of $15.00. JPMorgan Chase & Co.‘s target price indicates a potential upside of 26.87% from the company’s current price.

Sendas Distribuidora Price Performance

Shares of NYSE:ASAI opened at $13.40 on Tuesday. The company has a debt-to-equity ratio of 4.69, a quick ratio of 0.48 and a current ratio of 0.89. Sendas Distribuidora has a 1 year low of $10.44 and a 1 year high of $15.25. The stock has a market capitalization of $3.62 billion, a P/E ratio of 25.28, a PEG ratio of 0.65 and a beta of 1.12. The stock has a 50-day simple moving average of $14.13 and a 200-day simple moving average of $13.43.

Sendas Distribuidora (NYSE:ASAI) last issued its earnings results on Wednesday, February 21st. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 forecast that Sendas Distribuidora will post 0.61 earnings per share for the current year.

Hedge Funds Weigh In On Sendas Distribuidora

A number of institutional investors and hedge funds have recently bought and sold shares of ASAI. Coronation Fund Managers Ltd. boosted its stake in shares of Sendas Distribuidora by 6.9% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 8,171,428 shares of the company’s stock valued at $99,528,000 after buying an additional 527,876 shares during the last quarter. ANTIPODES PARTNERS Ltd raised its position in shares of Sendas Distribuidora by 22.1% during 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 in the last quarter. Breakout Capital Partners LP acquired a new stake in shares of Sendas Distribuidora during the 4th quarter valued at approximately $13,347,000. Renaissance Group LLC raised its position in shares of Sendas Distribuidora by 6.5% during the 3rd quarter. Renaissance Group LLC now owns 505,645 shares of the company’s stock valued at $6,147,000 after acquiring an additional 30,777 shares in the last quarter. Finally, Barings LLC raised its position in shares of Sendas Distribuidora by 17.6% during the 4th quarter. Barings LLC now owns 312,759 shares of the company’s stock valued at $4,322,000 after acquiring an additional 46,818 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.