Sendas Distribuidora (NYSE:ASAI) Stock Price Down 6%

Shares of Sendas Distribuidora S.A. (NYSE:ASAI) were down 6% during trading on Monday . The company traded as low as $7.03 and last traded at $7.07. Approximately 42,915 shares changed hands during trading, a decline of 87% from the average daily volume of 342,809 shares. The stock had previously closed at $7.52.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ASAI shares. 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 report on Friday, September 13th. Hsbc Global Res upgraded Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. cut Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price for the company. in a research note on Monday, September 9th.

Sendas Distribuidora Price Performance

The company has a quick ratio of 0.45, a current ratio of 0.84 and a debt-to-equity ratio of 4.18. The company has a market cap of $1.84 billion, a price-to-earnings ratio of 14.19, a PEG ratio of 0.61 and a beta of 1.04. The stock’s 50-day simple moving average is $8.58 and its 200 day simple moving average is $10.97.

Sendas Distribuidora (NYSE:ASAI) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.60 billion. Sendas Distribuidora had a net margin of 0.95% and a return on equity of 14.49%. On average, equities research analysts anticipate that Sendas Distribuidora S.A. will post 0.43 EPS for the current fiscal year.

Institutional Trading of Sendas Distribuidora

Several hedge funds have recently modified their holdings of the stock. Coronation Fund Managers Ltd. raised its position in Sendas Distribuidora by 35.2% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock valued at $75,661,000 after purchasing an additional 2,116,441 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Sendas Distribuidora by 6.0% during the first quarter. Vanguard Group Inc. now owns 1,124,903 shares of the company’s stock worth $16,626,000 after buying an additional 63,227 shares during the period. Breakout Capital Partners LP acquired a new stake in Sendas Distribuidora in the fourth quarter valued at approximately $13,347,000. Renaissance Group LLC lifted its stake in Sendas Distribuidora by 6.8% in the first quarter. Renaissance Group LLC now owns 531,101 shares of the company’s stock worth $7,876,000 after acquiring an additional 33,937 shares during the last quarter. Finally, Barings LLC grew its holdings in Sendas Distribuidora by 28.9% during the 1st quarter. Barings LLC now owns 403,015 shares of the company’s stock worth $5,957,000 after acquiring an additional 90,256 shares in the last quarter. 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.