Sendas Distribuidora (NYSE:ASAI) Rating Lowered to Neutral at JPMorgan Chase & Co.

Sendas Distribuidora (NYSE:ASAI) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat reports. They currently have a $10.50 target price on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 33.84% from the stock’s previous close.

Sendas Distribuidora Stock Performance

ASAI stock opened at $7.85 on Monday. The stock’s 50 day simple moving average is $9.21 and its 200 day simple moving average is $11.59. The company has a current ratio of 0.84, a quick ratio of 0.45 and a debt-to-equity ratio of 4.18. Sendas Distribuidora has a 12-month low of $7.72 and a 12-month high of $15.25. The stock has a market capitalization of $2.12 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 0.55 and a beta of 1.04.

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 for the quarter, compared to the consensus estimate of $3.60 billion. As a group, research analysts forecast that Sendas Distribuidora will post 0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sendas Distribuidora

A number of large investors have recently added to or reduced their stakes in the stock. Jump Financial LLC bought a new position in shares of Sendas Distribuidora during the 4th quarter valued at $143,000. Barings LLC boosted its position in Sendas Distribuidora by 17.6% in the fourth quarter. Barings LLC now owns 312,759 shares of the company’s stock worth $4,322,000 after purchasing an additional 46,818 shares during the last quarter. Brandes Investment Partners LP grew its stake in shares of Sendas Distribuidora by 146.1% during the 4th quarter. Brandes Investment Partners LP now owns 176,981 shares of the company’s stock valued at $2,446,000 after purchasing an additional 105,073 shares during the period. Royal London Asset Management Ltd. grew its stake in shares of Sendas Distribuidora by 888.9% during the 4th quarter. Royal London Asset Management Ltd. now owns 307,970 shares of the company’s stock valued at $4,256,000 after purchasing an additional 276,826 shares during the period. Finally, Breakout Capital Partners LP purchased a new stake in shares of Sendas Distribuidora during the 4th quarter valued at about $13,347,000. Institutional investors 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.