BRF (NYSE:BRFS) Shares Gap Up to $3.19

Brf S.A. (NYSE:BRFS) shares gapped up before the market opened on Monday . The stock had previously closed at $3.19, but opened at $3.35. BRF shares last traded at $3.42, with a volume of 1,186,114 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BRFS. JPMorgan Chase & Co. raised BRF from a “neutral” rating to an “overweight” rating in a research report on Monday. StockNews.com upgraded BRF from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. The Goldman Sachs Group upgraded BRF from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $1.90 to $3.10 in a research note on Monday. Finally, Barclays upgraded BRF from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $2.50 to $4.00 in a research note on Monday, March 4th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $3.55.

BRF Stock Performance

The business has a 50 day simple moving average of $3.14 and a 200 day simple moving average of $2.78. The company has a quick ratio of 0.86, a current ratio of 1.34 and a debt-to-equity ratio of 1.13. The company has a market capitalization of $3.68 billion, a PE ratio of -17.89 and a beta of 1.95.

BRF (NYSE:BRFS) last released its quarterly earnings results on Monday, February 26th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. BRF had a negative return on equity of 8.52% and a negative net margin of 2.29%. The company had revenue of $1.69 billion during the quarter. Equities research analysts predict that Brf S.A. will post 0.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Kapitalo Investimentos Ltda raised its stake in shares of BRF by 88.9% in the fourth quarter. Kapitalo Investimentos Ltda now owns 5,738,575 shares of the company’s stock worth $15,953,000 after purchasing an additional 2,700,313 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of BRF by 10.4% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 393,000 shares of the company’s stock worth $1,093,000 after purchasing an additional 37,000 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of BRF by 954.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 589,152 shares of the company’s stock worth $1,638,000 after purchasing an additional 533,254 shares during the last quarter. Vident Advisory LLC raised its stake in shares of BRF by 60.6% in the fourth quarter. Vident Advisory LLC now owns 33,192 shares of the company’s stock worth $92,000 after purchasing an additional 12,530 shares during the last quarter. Finally, OLD Mission Capital LLC purchased a new position in shares of BRF in the fourth quarter worth about $144,000. 4.76% of the stock is currently owned by hedge funds and other institutional investors.

BRF Company Profile

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.