BRF (NYSE:BRFS) Shares Gap Up – Here’s Why

Shares of Brf S.A. (NYSE:BRFS) gapped up prior to trading on Tuesday . The stock had previously closed at $3.19, but opened at $3.31. BRF shares last traded at $3.35, with a volume of 214,973 shares traded.

Analyst Ratings Changes

BRFS has been the subject of several research analyst reports. Citigroup upgraded shares of BRF from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. StockNews.com upgraded shares of BRF from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 7th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $10.70.

BRF Stock Up 6.4 %

The firm’s 50-day simple moving average is $3.53 and its 200 day simple moving average is $4.07. The company has a market cap of $3.67 billion, a P/E ratio of 7.92, a PEG ratio of 0.19 and a beta of 1.90. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.93 and a current ratio of 1.45.

BRF (NYSE:BRFS) last released its quarterly earnings data on Wednesday, February 26th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.11). BRF had a net margin of 6.52% and a return on equity of 19.66%. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.72 billion. On average, research analysts forecast that Brf S.A. will post 0.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On BRF

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TD Private Client Wealth LLC bought a new position in BRF during the 3rd quarter worth about $27,000. Hennion & Walsh Asset Management Inc. bought a new position in BRF during the 4th quarter worth about $43,000. PFG Investments LLC bought a new position in BRF during the 4th quarter worth about $51,000. Headlands Technologies LLC bought a new position in BRF during the 4th quarter worth about $55,000. Finally, US Bancorp DE increased its holdings in BRF by 127.1% during the 3rd quarter. US Bancorp DE now owns 15,871 shares of the company’s stock worth $69,000 after purchasing an additional 8,882 shares in the last quarter. 4.76% of the stock is owned by institutional investors and hedge funds.

About BRF

BRF SA raises, produces, and slaughters poultry and pork for processing, production, and sale of fresh meat, processed products, pasta, margarine, pet food, and other products. The company provides frozen whole and cut chicken, frozen pork, and turkey, and halal products for Islamic markets; processed foods, such as marinated, frozen, seasoned whole, and cut chicken, roosters, sausages, ham products, bologna, frankfurters, salamis, bacons, cold meats, and other smoked products; and hamburgers, steaks, breaded meat products, kibbeh, and meatballs, as well as chicken sausages, hot dogs, and chicken bologna.