Sendas Distribuidora (NYSE:ASAI) Shares Gap Up – Should You Buy?

Sendas Distribuidora S.A. (NYSE:ASAI) shares gapped up prior to trading on Monday . The stock had previously closed at $6.03, but opened at $6.19. Sendas Distribuidora shares last traded at $6.32, with a volume of 100,370 shares changing hands.

Analyst Upgrades and Downgrades

ASAI has been the topic of several recent research reports. JPMorgan Chase & Co. cut Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price objective on the stock. in a research report on Monday, September 9th. Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, Bank of America lowered shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 target price on the stock. in a research report on Friday, September 13th.

Sendas Distribuidora Trading Down 4.1 %

The firm has a fifty day moving average price of $7.95 and a 200-day moving average price of $10.26. 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 company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 0.50 and a beta of 1.02.

Sendas Distribuidora (NYSE:ASAI) last released its earnings results on Thursday, August 8th. The company reported $0.09 earnings per share for the quarter, topping 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 firm had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.60 billion. As a group, equities analysts anticipate that Sendas Distribuidora S.A. will post 0.43 EPS for the current year.

Institutional Trading of Sendas Distribuidora

Several large investors have recently bought and sold shares of the business. Creative Planning lifted its holdings in shares of Sendas Distribuidora by 110.0% in the third quarter. Creative Planning now owns 36,339 shares of the company’s stock worth $250,000 after acquiring an additional 19,034 shares during the last quarter. Coronation Fund Managers Ltd. lifted its stake in Sendas Distribuidora by 23.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 7,441,629 shares of the company’s stock valued at $69,207,000 after purchasing an additional 1,422,458 shares during the last quarter. SPX Gestao de Recursos Ltda boosted its position in Sendas Distribuidora by 13.3% in the second quarter. SPX Gestao de Recursos Ltda now owns 81,733 shares of the company’s stock valued at $760,000 after buying an additional 9,607 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Sendas Distribuidora by 44.4% during the second quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock worth $184,000 after buying an additional 6,068 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Sendas Distribuidora during the second quarter worth $212,000. 8.76% of the stock is owned by institutional investors and hedge funds.

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.