Companhia Brasileira de Distribuicao (CBD) Raised to “Buy” at Zacks Investment Research

Companhia Brasileira de Distribuicao (NYSE:CBD) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $23.00 price objective on the stock. Zacks Investment Research‘s price target suggests a potential upside of 7.63% from the company’s previous close.

According to Zacks, “Companhia Brasileira has surpassed the industry in a month, courtesy of continued strength at Assai. Sales here surged in the last reported quarter owing to solid comps and gains from new stores. Further, Assai’s sale volume was backed by higher traffic and continued rise in market share. Management expects market share to grow for both Assai and Multivarejo in 2018, wherein digital development and organic expansion will remain major priorities for the company. However, Companhia Brasileira has been battling acute food deflation and a tough retail environment which remained hurdles in fourth-quarter 2017.  During the quarter, net income tumbled year over year due to a slump in EBITDA margin, which resulted from lower margins at both Assai and Multivarejo. In fact, increased levels of deflation in food-at-home categories also marred comps at Multivarejo. Unfortunately, food deflation is expected to persist in 2018.”

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CBD has been the topic of a number of other reports. ValuEngine downgraded shares of Companhia Brasileira de Distribuicao from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Citigroup raised shares of Companhia Brasileira de Distribuicao from a “neutral” rating to a “buy” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Companhia Brasileira de Distribuicao has an average rating of “Buy” and a consensus target price of $23.00.

NYSE CBD opened at $21.37 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $5,697.09, a P/E ratio of 24.60, a P/E/G ratio of 0.98 and a beta of 1.74. Companhia Brasileira de Distribuicao has a 12 month low of $18.60 and a 12 month high of $25.90.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. grew its position in shares of Companhia Brasileira de Distribuicao by 47.1% in the 4th quarter. Pinebridge Investments L.P. now owns 112,229 shares of the company’s stock valued at $2,645,000 after buying an additional 35,931 shares during the last quarter. Thomas White International Ltd. grew its position in shares of Companhia Brasileira de Distribuicao by 7.3% in the 4th quarter. Thomas White International Ltd. now owns 78,902 shares of the company’s stock valued at $1,860,000 after buying an additional 5,376 shares during the last quarter. Itau Unibanco Holding S.A. grew its position in shares of Companhia Brasileira de Distribuicao by 58.6% in the 4th quarter. Itau Unibanco Holding S.A. now owns 56,318 shares of the company’s stock valued at $1,327,000 after buying an additional 20,818 shares during the last quarter. Bailard Inc. grew its position in shares of Companhia Brasileira de Distribuicao by 217.6% in the 4th quarter. Bailard Inc. now owns 60,514 shares of the company’s stock valued at $1,426,000 after buying an additional 41,463 shares during the last quarter. Finally, Fisher Asset Management LLC grew its position in shares of Companhia Brasileira de Distribuicao by 0.4% in the 4th quarter. Fisher Asset Management LLC now owns 1,163,708 shares of the company’s stock valued at $27,429,000 after buying an additional 4,475 shares during the last quarter. 2.81% of the stock is currently owned by hedge funds and other institutional investors.

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About Companhia Brasileira de Distribuicao

Companhia Brasileira de Distribuição engages in the retail of food, clothing, home appliances, and other products through its chain of hypermarkets and supermarkets. It operates though the Food Retail; and Cash and Carry segments. The Food Retail segment sells food and non-food products to individual consumers.

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