Sendas Distribuidora (NYSE:ASAI) Stock Price Up 4.9% – Still a Buy?

Shares of Sendas Distribuidora S.A. (NYSE:ASAI) shot up 4.9% during mid-day trading on Monday . The company traded as high as $6.65 and last traded at $6.64. 35,329 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 369,756 shares. The stock had previously closed at $6.33.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Bank of America cut Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price objective for the company. in a research note on Friday, September 13th. Hsbc Global Res upgraded shares of Sendas Distribuidora to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. downgraded shares of 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.

Sendas Distribuidora Trading Down 0.2 %

The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.51 and a beta of 1.03. 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 50-day moving average price of $7.16 and a 200-day moving average price of $9.56.

Sendas Distribuidora (NYSE:ASAI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.60 billion. As a group, research analysts forecast that Sendas Distribuidora S.A. will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On Sendas Distribuidora

Large investors have recently bought and sold shares of the stock. Daiwa Securities Group Inc. purchased a new stake in shares of Sendas Distribuidora in the 1st quarter valued at about $310,000. Barings LLC lifted its stake in 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 buying an additional 90,256 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in Sendas Distribuidora in the first quarter valued at approximately $69,000. Vanguard Group Inc. boosted its holdings in shares of Sendas Distribuidora by 6.0% in the first quarter. Vanguard Group Inc. now owns 1,124,903 shares of the company’s stock valued at $16,626,000 after acquiring an additional 63,227 shares during the period. Finally, Thornburg Investment Management Inc. grew its position in shares of Sendas Distribuidora by 10.8% during the first quarter. Thornburg Investment Management Inc. now owns 71,720 shares of the company’s stock worth $1,033,000 after acquiring an additional 7,001 shares during the last quarter. 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.