BRF (NYSE:BRFS) Shares Gap Down - Here's Why

Brf S.A. (NYSE:BRFS - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $3.27, but opened at $3.19. BRF shares last traded at $3.19, with a volume of 128,450 shares trading hands.

Analyst Upgrades and Downgrades

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

BRF Stock Up 0.8 %

The firm's 50 day moving average price is $3.53 and its 200-day moving average price is $4.07. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 1.05. The company has a market cap of $3.47 billion, a P/E ratio of 7.45, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90.

BRF (NYSE:BRFS - Get Free Report) 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). The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.72 billion. BRF had a net margin of 6.52% and a return on equity of 19.66%. As a group, equities research analysts expect that Brf S.A. will post 0.45 EPS for the current year.

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Institutional Investors Weigh In On BRF

Institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its stake in BRF by 50.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 284,203 shares of the company's stock valued at $1,157,000 after acquiring an additional 95,158 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of BRF by 40.4% in the fourth quarter. Vident Advisory LLC now owns 68,391 shares of the company's stock valued at $278,000 after purchasing an additional 19,670 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of BRF by 111.1% in the fourth quarter. Two Sigma Advisers LP now owns 662,300 shares of the company's stock worth $2,696,000 after purchasing an additional 348,600 shares in the last quarter. Two Sigma Investments LP boosted its holdings in BRF by 4.3% during the fourth quarter. Two Sigma Investments LP now owns 2,217,514 shares of the company's stock worth $9,025,000 after purchasing an additional 91,268 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in BRF in the fourth quarter valued at $1,490,000. 4.76% of the stock is owned by institutional investors.

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.