Sendas Distribuidora (NYSE:ASAI) Hits New 12-Month Low – Time to Sell?

Shares of Sendas Distribuidora S.A. (NYSE:ASAI) reached a new 52-week low on Wednesday . The stock traded as low as $5.90 and last traded at $5.90, with a volume of 108004 shares traded. The stock had previously closed at $6.19.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ASAI. JPMorgan Chase & Co. cut Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price target on the stock. in a report on Monday, September 9th. Bank of America cut shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price target for the company. in a research report on Friday, September 13th. Finally, Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th.

Sendas Distribuidora Price Performance

The company has a 50-day moving average of $8.22 and a 200-day moving average of $10.56. 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 firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 11.68, a price-to-earnings-growth ratio of 0.61 and a beta of 1.02.

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

Institutional Investors Weigh In On Sendas Distribuidora

Several institutional investors have recently bought and sold shares of ASAI. Coronation Fund Managers Ltd. lifted its position in shares of Sendas Distribuidora by 35.2% in the second quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock worth $75,661,000 after purchasing an additional 2,116,441 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Sendas Distribuidora by 6.0% in the first quarter. Vanguard Group Inc. now owns 1,124,903 shares of the company’s stock valued at $16,626,000 after acquiring an additional 63,227 shares during the last quarter. Breakout Capital Partners LP bought a new stake in Sendas Distribuidora during the fourth quarter worth about $13,347,000. Barings LLC boosted its position in Sendas Distribuidora by 28.9% during the first quarter. Barings LLC now owns 403,015 shares of the company’s stock valued at $5,957,000 after purchasing an additional 90,256 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Sendas Distribuidora during the 2nd quarter worth approximately $810,000. Institutional investors own 8.76% of the company’s stock.

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.