BRF (NYSE:BRFS) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of BRF (NYSE:BRFS) from a buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “BRF Brasil Foods SA, formerly Perdigao S.A., is a Brazil-based food company focused on the production and sale of poultry, pork, beef cuts, milk, dairy products, and processed food products. The Company’s products include frozen whole and cut chickens; frozen pork cuts and beef cuts; processed food products, such as marinated frozen whole and cut chickens, roosters (sold under the Chester brand) and turkeys; specialty meats, such as sausages, ham products, bologna, frankfurters, salamis, bacon and other smoked products; frozen processed meats, such as hamburgers, steaks, breaded meat products, kibes and meatballs, and frozen processed vegetarian foods; frozen prepared entrees, such as lasagnas and pizzas, as well as other frozen foods, including vegetables, cheese bread and pies; dairy products, such as cheeses, powdered milk and yogurts; juices, soy milk and soy juices; margarine; milk, and soy meal and refined soy flour, as well as animal feed. “

A number of other analysts have also commented on BRFS. ValuEngine lowered shares of BRF from a hold rating to a sell rating in a research note on Monday, June 1st. Barclays lowered shares of BRF from an overweight rating to an equal weight rating and set a $4.50 price target for the company. in a research note on Monday, June 29th. Finally, JPMorgan Chase & Co. lowered shares of BRF from an overweight rating to a neutral rating in a research note on Tuesday, March 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. BRF has a consensus rating of Hold and a consensus price target of $4.50.

NYSE:BRFS opened at $3.81 on Wednesday. The firm has a market capitalization of $3.10 billion, a P/E ratio of 9.77 and a beta of 1.57. The company has a fifty day moving average of $4.20 and a 200-day moving average of $5.40. The company has a quick ratio of 0.80, a current ratio of 1.19 and a debt-to-equity ratio of 3.14. BRF has a twelve month low of $2.27 and a twelve month high of $9.96.

BRF (NYSE:BRFS) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.12. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.85 billion. BRF had a net margin of 3.79% and a return on equity of 17.17%. On average, analysts anticipate that BRF will post 0.09 EPS for the current fiscal year.

Large investors have recently modified their holdings of the stock. Natixis Advisors L.P. boosted its holdings in shares of BRF by 892.8% in the 1st quarter. Natixis Advisors L.P. now owns 228,551 shares of the company’s stock worth $663,000 after buying an additional 205,530 shares during the last quarter. Brinker Capital Inc. purchased a new position in shares of BRF in the 1st quarter worth about $75,000. Bank of America Corp DE boosted its holdings in shares of BRF by 40.8% in the 4th quarter. Bank of America Corp DE now owns 3,973,588 shares of the company’s stock worth $34,570,000 after buying an additional 1,150,969 shares during the last quarter. Altium Wealth Management LLC purchased a new position in shares of BRF in the 1st quarter worth about $215,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of BRF by 24.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 458,984 shares of the company’s stock worth $3,993,000 after buying an additional 91,051 shares during the last quarter. 10.33% of the stock is currently owned by institutional investors.

BRF Company Profile

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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