Sendas Distribuidora (NYSE:ASAI) Downgraded to “Neutral” at JPMorgan Chase & Co.

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

Sendas Distribuidora Stock Performance

NYSE ASAI opened at $8.05 on Monday. The stock’s fifty day moving average is $9.19 and its two-hundred day moving average is $11.57. The firm has a market capitalization of $2.18 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 0.55 and a beta of 1.04. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.45 and a current ratio of 0.84. Sendas Distribuidora has a fifty-two week low of $7.72 and a fifty-two week high of $15.25.

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

Hedge Funds Weigh In On Sendas Distribuidora

Large investors have recently modified their holdings of the business. SageView Advisory Group LLC acquired a new position in shares of Sendas Distribuidora in the 1st quarter valued at $69,000. PNC Financial Services Group Inc. lifted its stake in shares of Sendas Distribuidora by 29.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock valued at $103,000 after purchasing an additional 1,713 shares during the last quarter. Privium Fund Management B.V. lifted its stake in shares of Sendas Distribuidora by 26.3% in the 2nd quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock valued at $122,000 after purchasing an additional 2,900 shares during the last quarter. Jump Financial LLC acquired a new position in shares of Sendas Distribuidora in the 4th quarter valued at $143,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Sendas Distribuidora in the 1st quarter valued at $160,000. 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.