Sendas Distribuidora (NYSE:ASAI) Trading Up 4.9% – Time to Buy?

Sendas Distribuidora S.A. (NYSE:ASAI) shares shot up 4.9% on Monday . The stock traded as high as $6.65 and last traded at $6.64. 35,329 shares changed 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 brokerages have recently commented on ASAI. Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. downgraded Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price on the stock. in a report on Monday, September 9th. Finally, Bank of America downgraded Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price target for the company. in a report on Friday, September 13th.

Sendas Distribuidora Price Performance

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’s fifty day moving average price is $7.20 and its 200 day moving average price is $9.61. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 13.40, a price-to-earnings-growth ratio of 0.52 and a beta of 1.03.

Sendas Distribuidora (NYSE:ASAI) last issued its earnings results on Thursday, August 8th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.60 billion. Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%. Equities research analysts expect that Sendas Distribuidora S.A. will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On Sendas Distribuidora

Hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in Sendas Distribuidora by 145.6% in the 3rd quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock worth $26,000 after buying an additional 2,203 shares in the last quarter. SageView Advisory Group LLC bought a new position in shares of Sendas Distribuidora in the first quarter worth $69,000. Signaturefd LLC increased its holdings in shares of Sendas Distribuidora by 186.4% during the third quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock valued at $69,000 after purchasing an additional 6,567 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Sendas Distribuidora during the first quarter valued at about $160,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in Sendas Distribuidora in the third quarter worth about $77,000. 8.76% of the stock is currently owned by institutional investors.

Sendas Distribuidora Company Profile

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.