Sendas Distribuidora (NYSE:ASAI) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Sendas Distribuidora (NYSE:ASAI) from an overweight rating to a neutral rating in a research note published on Monday morning, MarketBeat reports. They currently have $10.50 price objective on the stock.

Sendas Distribuidora Stock Up 2.7 %

Sendas Distribuidora stock opened at $8.05 on Monday. The stock has a market capitalization of $2.18 billion, a PE ratio of 15.19, a price-to-earnings-growth ratio of 0.55 and a beta of 1.04. Sendas Distribuidora has a 12 month low of $7.72 and a 12 month high of $15.25. The business has a 50 day simple moving average of $9.19 and a 200-day simple moving average of $11.57. The company has a debt-to-equity ratio of 4.18, a current ratio of 0.84 and a quick ratio of 0.45.

Sendas Distribuidora (NYSE:ASAI) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%. On average, analysts anticipate that Sendas Distribuidora will post 0.49 EPS for the current fiscal year.

Institutional Trading of Sendas Distribuidora

A number of institutional investors have recently made changes to their positions in ASAI. SageView Advisory Group LLC acquired a new stake in shares of Sendas Distribuidora in the first quarter worth approximately $69,000. PNC Financial Services Group Inc. boosted its stake in shares of Sendas Distribuidora by 29.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock worth $103,000 after acquiring an additional 1,713 shares during the last quarter. Privium Fund Management B.V. boosted its stake in shares of Sendas Distribuidora by 26.3% in the second quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock worth $122,000 after acquiring an additional 2,900 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Sendas Distribuidora in the fourth quarter worth approximately $143,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Sendas Distribuidora in the first quarter worth approximately $160,000. 8.76% of the stock is owned by institutional investors and hedge funds.

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.