Zacks Investment Research upgraded shares of Sendas Distribuidora (NYSE:ASAI) from a hold rating to a buy rating in a report published on Monday morning, Zacks.com reports. Zacks Investment Research currently has $20.00 target price on the stock.
According to Zacks, “Sendas Distribuidora SA engages in the retail and wholesale of food and other products through its stores. It operates through the Cash and Carry, and Éxito Group segment. The Cash and Carry segment includes its business under the Assai brand. The Éxito Group segment consists of its businesses in Columbia, Argentina, and Uruguay under the Éxito, Surtimax, Super Inter, and Carulla brands. Sendas Distribuidora SA is headquartered in Sao Paulo, Brazil. “
Shares of NYSE:ASAI opened at $18.19 on Monday. The firm has a fifty day moving average price of $17.01. The company has a quick ratio of 0.71, a current ratio of 1.17 and a debt-to-equity ratio of 3.83. Sendas Distribuidora has a one year low of $11.45 and a one year high of $18.55.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Coronation Fund Managers Ltd. bought a new stake in shares of Sendas Distribuidora during the 1st quarter worth $118,604,000. SPX Equities Gestao de Recursos Ltda raised its position in Sendas Distribuidora by 651.2% in the 2nd quarter. SPX Equities Gestao de Recursos Ltda now owns 1,427,953 shares of the company’s stock worth $24,418,000 after purchasing an additional 1,237,866 shares during the period. Morgan Stanley raised its position in Sendas Distribuidora by 403.7% in the 2nd quarter. Morgan Stanley now owns 780,775 shares of the company’s stock worth $13,351,000 after purchasing an additional 625,765 shares during the period. Amundi Asset Management US Inc. purchased a new position in Sendas Distribuidora in the 1st quarter worth $6,246,000. Finally, Northern Trust Corp purchased a new position in Sendas Distribuidora in the 1st quarter worth $6,070,000. 5.99% of the stock is 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. As of April 22, 2021, the company operated 185 stores under the AssaÃ banner, as well as 10 distribution centers. It serves restaurants, pizzerias, snack bars, schools, small businesses, religious institutions, hospitals, hotels, grocery stores, neighborhood supermarkets, and individuals.
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