Sendas Distribuidora (NYSE:ASAI) Upgraded to Strong-Buy by Hsbc Global Res

Hsbc Global Res upgraded shares of Sendas Distribuidora (NYSE:ASAI) to a strong-buy rating in a research note published on Tuesday morning, Zacks.com reports.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. lowered Sendas Distribuidora from an overweight rating to a neutral rating and set a $10.50 target price for the company. in a report on Monday, September 9th. Bank of America lowered Sendas Distribuidora from a buy rating to a neutral rating and set a $9.10 price target on the stock. in a research report on Friday, September 13th.

Sendas Distribuidora Stock Up 1.9 %

Shares of ASAI stock opened at $7.52 on Tuesday. Sendas Distribuidora has a 1 year low of $6.94 and a 1 year high of $15.25. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.45 and a current ratio of 0.84. The business’s fifty day moving average is $8.58 and its 200-day moving average is $11.02. The stock has a market cap of $2.03 billion, a PE ratio of 14.19, a price-to-earnings-growth ratio of 0.61 and a beta of 1.04.

Sendas Distribuidora (NYSE:ASAI) last released its earnings results on Thursday, August 8th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.60 billion. Sendas Distribuidora had a net margin of 0.95% and a return on equity of 14.49%. Equities analysts expect that Sendas Distribuidora will post 0.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sendas Distribuidora

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Coronation Fund Managers Ltd. increased its stake in shares of Sendas Distribuidora by 35.2% in the second quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock worth $75,661,000 after purchasing an additional 2,116,441 shares during the period. Vanguard Group Inc. grew its holdings in Sendas Distribuidora by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 1,124,903 shares of the company’s stock valued at $16,626,000 after buying an additional 63,227 shares during the last quarter. Breakout Capital Partners LP bought a new position in Sendas Distribuidora in the 4th quarter worth approximately $13,347,000. Renaissance Group LLC lifted its holdings in shares of Sendas Distribuidora by 6.8% during the first quarter. Renaissance Group LLC now owns 531,101 shares of the company’s stock worth $7,876,000 after buying an additional 33,937 shares during the last quarter. Finally, Barings LLC boosted its position in shares of Sendas Distribuidora by 28.9% in the first quarter. Barings LLC now owns 403,015 shares of the company’s stock valued at $5,957,000 after acquiring an additional 90,256 shares during the period. Institutional investors and hedge funds 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.