BRF (NYSE:BRFS) Shares Gap Up to $9.65

Brf S.A. (NYSE:BRFS)’s share price gapped up before the market opened on Monday . The stock had previously closed at $9.44, but opened at $9.65. BRF shares last traded at $9.64, with a volume of 1,585,566 shares.

A number of research analysts have weighed in on BRFS shares. BBA Icatu Securities raised BRF from a “market perform” rating to an “outperform” rating in a research note on Monday, July 22nd. ValuEngine lowered BRF from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. raised BRF from a “neutral” rating to an “overweight” rating and set a $8.00 price target on the stock in a research note on Thursday, June 13th. Zacks Investment Research raised BRF from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research note on Wednesday, July 31st. Finally, Citigroup lowered BRF from a “neutral” rating to a “sell” rating in a research note on Monday, July 29th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $8.92.

The company has a current ratio of 1.21, a quick ratio of 0.82 and a debt-to-equity ratio of 2.27. The stock has a fifty day moving average price of $8.68. The firm has a market capitalization of $7.47 billion, a PE ratio of -18.00 and a beta of 0.82.

BRF (NYSE:BRFS) last released its quarterly earnings results on Friday, May 10th. The company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.02. The company had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.01 billion. BRF had a negative return on equity of 30.33% and a negative net margin of 16.41%. On average, research analysts predict that Brf S.A. will post 0.05 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BRFS. Northern Trust Corp raised its holdings in shares of BRF by 14.0% during the fourth quarter. Northern Trust Corp now owns 966,574 shares of the company’s stock valued at $5,490,000 after buying an additional 118,927 shares during the last quarter. Two Sigma Advisers LP bought a new stake in shares of BRF during the fourth quarter valued at approximately $472,000. Bank of America Corp DE raised its holdings in shares of BRF by 1,282.8% during the fourth quarter. Bank of America Corp DE now owns 1,287,885 shares of the company’s stock valued at $7,315,000 after buying an additional 1,194,752 shares during the last quarter. Norges Bank bought a new stake in shares of BRF during the fourth quarter valued at approximately $7,062,000. Finally, Deltec Asset Management LLC raised its holdings in shares of BRF by 19.0% during the first quarter. Deltec Asset Management LLC now owns 125,000 shares of the company’s stock valued at $727,000 after buying an additional 20,000 shares during the last quarter. 11.81% of the stock is currently owned by institutional investors.

About BRF (NYSE:BRFS)

BRF SA focuses on raising, producing, and slaughtering poultry and pork for processing, production, and sale of fresh meat, processed products, pasta, frozen vegetables, and soybean by-products. Its product portfolio comprises whole chickens and frozen cuts of chicken, turkey, and pork; ham products, bologna, sausages, frankfurters, and other smoked products; hamburgers, breaded meat products, and meatballs; lasagnas, pizzas, cheese breads, pies, and frozen vegetables; margarine; and soy meal and refined soy flour, as well as animal feed.

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