BRF (NYSE:BRFS) Shares Gap Down to $3.33

Brf S.A. (NYSE:BRFS)’s share price gapped down before the market opened on Monday . The stock had previously closed at $3.33, but opened at $3.23. BRF shares last traded at $3.27, with a volume of 1,021,879 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have commented on BRFS. JPMorgan Chase & Co. raised BRF from a “neutral” rating to an “overweight” rating in a research report on Monday, April 15th. Barclays raised shares of BRF from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $2.50 to $4.00 in a report on Monday, March 4th. The Goldman Sachs Group upgraded shares of BRF from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $1.90 to $3.10 in a report on Monday, April 15th. Finally, StockNews.com raised BRF from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.55.

BRF Price Performance

The stock has a market cap of $3.90 billion, a price-to-earnings ratio of -17.74 and a beta of 1.86. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.34 and a quick ratio of 0.86. The stock’s 50 day simple moving average is $3.29 and its two-hundred day simple moving average is $2.91.

BRF (NYSE:BRFS) last issued its earnings results on Monday, February 26th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.08. BRF had a negative net margin of 2.29% and a negative return on equity of 8.52%. The business had revenue of $1.69 billion for the quarter. On average, analysts forecast that Brf S.A. will post 0.21 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BRF

Hedge funds and other institutional investors have recently modified their holdings of the stock. Intelligence Driven Advisers LLC bought a new stake in BRF during the fourth quarter worth about $30,000. Vanguard Personalized Indexing Management LLC bought a new stake in BRF during the 4th quarter worth about $41,000. Dynamic Technology Lab Private Ltd acquired a new stake in BRF in the 4th quarter valued at about $53,000. Headlands Technologies LLC acquired a new stake in BRF in the 1st quarter valued at about $60,000. Finally, Jump Financial LLC acquired a new position in shares of BRF during the fourth quarter worth approximately $66,000. Institutional investors own 4.76% of the company’s stock.

About BRF

BRF SA engages in raising, producing, and slaughtering poultry and pork for processing, production, and sale of fresh meat, processed products, pasta, margarine, pet food, and other products. The company's product portfolio comprises meat products, including frozen whole and cut chicken, frozen pork, and turkey; processed food products, such as marinated, frozen, whole, and cut chicken, roosters, sausages, ham products, bologna, frankfurters, salamis, bacon, cold meats, other smoked products; and frozen processed meats comprising hamburgers, steaks, breaded meat products, kibbeh, and meatballs, as well as chicken sausages, chicken hot dogs, and chicken bologna.