Sendas Distribuidora (OTCMKTS:ASAIY) Shares Gap Up – Here’s Why

Sendas Distribuidora S.A. Sponsored ADR (OTCMKTS:ASAIY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $9.3450, but opened at $9.74. Sendas Distribuidora shares last traded at $9.6262, with a volume of 3,712 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Sendas Distribuidora from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold”.

Sendas Distribuidora Stock Performance

The company has a market capitalization of $2.68 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.15 and a beta of 0.66. The business’s fifty day simple moving average is $8.33 and its 200-day simple moving average is $8.47.

Sendas Distribuidora (OTCMKTS:ASAIY) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.10. Sendas Distribuidora had a return on equity of 12.02% and a net margin of 1.27%. As a group, analysts forecast that Sendas Distribuidora S.A. Sponsored ADR will post 1.28 EPS for the current year.

About Sendas Distribuidora

Sendas Distribuidora SA, operating under the Assaí Atacadista brand, is a Brazilian cash-and-carry retailer serving both households and business customers. The company sells food and beverages, fresh and perishable products, personal-care items, cleaning supplies and selected general merchandise through a network of wholesale-oriented stores.

Assaí’s format combines elements of a supermarket and a wholesale club, offering products in both individual and larger-volume packages. Its customer base includes families, restaurants, small retailers, food-service operators and other businesses seeking competitively priced goods.

The company traces its origins to the Assaí business, which was founded in Brazil in 1974 and later became part of Companhia Brasileira de Distribuição, commonly known as GPA.