Sendas Distribuidora (NYSE:ASAI) Rating Lowered to Neutral at Bank of America

Sendas Distribuidora (NYSE:ASAI) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a $9.10 price objective on the stock. Bank of America‘s price objective would indicate a potential upside of 15.78% from the company’s current price.

Separately, 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.

Sendas Distribuidora Price Performance

Shares of Sendas Distribuidora stock opened at $7.86 on Friday. The company has a debt-to-equity ratio of 4.18, a current ratio of 0.84 and a quick ratio of 0.45. The company has a market cap of $2.13 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 0.58 and a beta of 1.04. The firm has a fifty day moving average price of $9.10 and a two-hundred day moving average price of $11.47. 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 released its earnings results on Thursday, August 8th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. Sendas Distribuidora had a net margin of 0.95% and a return on equity of 14.49%. The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Analysts expect that Sendas Distribuidora will post 0.44 EPS for the current year.

Institutional Trading of Sendas Distribuidora

Several institutional investors have recently made changes to their positions in the business. Jump Financial LLC bought a new position in Sendas Distribuidora during the fourth quarter worth about $143,000. Brandes Investment Partners LP boosted its stake in Sendas Distribuidora by 146.1% in the 4th quarter. Brandes Investment Partners LP now owns 176,981 shares of the company’s stock valued at $2,446,000 after buying an additional 105,073 shares in the last quarter. Royal London Asset Management Ltd. grew its position in Sendas Distribuidora by 888.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 307,970 shares of the company’s stock valued at $4,256,000 after acquiring an additional 276,826 shares during the period. Breakout Capital Partners LP acquired a new position in Sendas Distribuidora during the fourth quarter worth $13,347,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Sendas Distribuidora by 29.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock valued at $103,000 after acquiring an additional 1,713 shares during the period. 8.76% of the stock is currently 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.