BRF (NYSE:BRFS) Shares Gap Up to $7.34

Brf S.A. (NYSE:BRFS)’s share price gapped up prior to trading on Friday . The stock had previously closed at $7.46, but opened at $7.34. BRF shares last traded at $7.40, with a volume of 288601 shares changing hands.

A number of equities analysts have recently issued reports on the stock. Zacks Investment Research cut shares of BRF from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. ValuEngine upgraded shares of BRF from a “sell” rating to a “hold” rating in a research note on Friday, March 15th. Barclays restated a “buy” rating and issued a $9.00 price objective on shares of BRF in a research note on Wednesday, May 15th. JPMorgan Chase & Co. upgraded shares of BRF from a “neutral” rating to an “overweight” rating and set a $8.00 price objective for the company in a research note on Thursday. Finally, Santander upgraded shares of BRF from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. BRF currently has a consensus rating of “Buy” and an average target price of $8.58.

The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.82 and a current ratio of 1.21. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of -13.72 and a beta of 0.78.

BRF (NYSE:BRFS) last posted its earnings results on Friday, May 10th. The company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. BRF had a negative net margin of 16.41% and a negative return on equity of 30.33%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.01 billion. Equities analysts predict that Brf S.A. will post -0.03 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. grew its holdings in shares of BRF by 22.8% in the 4th quarter. Baillie Gifford & Co. now owns 17,336,132 shares of the company’s stock worth $98,469,000 after purchasing an additional 3,217,409 shares during the last quarter. Norges Bank bought a new stake in shares of BRF in the 4th quarter worth about $7,062,000. Verde Servicos Internacionais S.A. bought a new stake in shares of BRF in the 1st quarter worth about $640,000. BNP Paribas Arbitrage SA grew its holdings in shares of BRF by 18.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 759,488 shares of the company’s stock worth $4,420,000 after purchasing an additional 116,587 shares during the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of BRF in the 1st quarter worth about $254,000. 12.32% of the stock is currently owned by institutional investors and hedge funds.

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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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