Sendas Distribuidora (NYSE:ASAI) Stock Price Down 7.3% – Should You Sell?

Sendas Distribuidora S.A. (NYSE:ASAI)’s stock price was down 7.3% on Thursday . The stock traded as low as $6.29 and last traded at $6.31. Approximately 659,242 shares were traded during trading, an increase of 76% from the average daily volume of 375,111 shares. The stock had previously closed at $6.81.

Analyst Ratings Changes

A number of brokerages recently commented on ASAI. 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 raised Sendas Distribuidora to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. cut shares of Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price for the company. in a report on Monday, September 9th.

Sendas Distribuidora Stock Performance

The stock has a market capitalization of $1.71 billion, a P/E ratio of 13.60, a PEG ratio of 0.51 and a beta of 1.03. The company’s fifty day simple moving average is $7.09 and its two-hundred day simple moving average is $9.49. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.45 and a current ratio of 0.84.

Sendas Distribuidora (NYSE:ASAI) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.09 earnings per share for the quarter, topping 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. As a group, equities analysts forecast that Sendas Distribuidora S.A. will post 0.46 EPS for the current year.

Institutional Trading of Sendas Distribuidora

Several large investors have recently modified their holdings of the stock. Signaturefd LLC increased its stake in Sendas Distribuidora by 186.4% in the third quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock valued at $69,000 after acquiring an additional 6,567 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in Sendas Distribuidora during the third quarter worth about $77,000. Blue Trust Inc. raised its stake in Sendas Distribuidora by 145.6% during the third quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock worth $26,000 after acquiring an additional 2,203 shares in the last quarter. Creative Planning grew its holdings in shares of Sendas Distribuidora by 110.0% during the 3rd quarter. Creative Planning now owns 36,339 shares of the company’s stock valued at $250,000 after purchasing an additional 19,034 shares during the last quarter. Finally, Coronation Fund Managers Ltd. increased its position in Sendas Distribuidora by 23.6% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 7,441,629 shares of the company’s stock worth $69,207,000 after purchasing an additional 1,422,458 shares in the last quarter. 8.76% of the stock is 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.