BRF (NYSE:BRFS) Shares Down 6.5% – Here’s What Happened

Brf S.A. (NYSE:BRFS)’s stock price dropped 6.5% on Thursday . The company traded as low as $4.27 and last traded at $4.30. Approximately 1,171,610 shares traded hands during trading, a decline of 60% from the average daily volume of 2,925,416 shares. The stock had previously closed at $4.60.

Analysts Set New Price Targets

BRFS has been the subject of a number of recent research reports. StockNews.com upgraded shares of BRF from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 21st. Barclays upped their price objective on shares of BRF from $4.50 to $5.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, Bank of America upped their price objective on shares of BRF from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.70.

BRF Stock Performance

The company has a market cap of $4.58 billion, a PE ratio of 15.67, a P/E/G ratio of 0.26 and a beta of 1.93. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.99 and a current ratio of 1.45. The stock’s 50-day simple moving average is $4.39 and its 200 day simple moving average is $4.04.

BRF (NYSE:BRFS) last announced its quarterly earnings data on Thursday, August 15th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. BRF had a net margin of 3.61% and a return on equity of 11.51%. The firm had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter last year, the business earned ($0.10) earnings per share. As a group, equities analysts anticipate that Brf S.A. will post 0.46 EPS for the current year.

Institutional Trading of BRF

Several hedge funds and other institutional investors have recently made changes to their positions in BRFS. Bayesian Capital Management LP acquired a new position in BRF during the first quarter worth about $48,000. Atomi Financial Group Inc. acquired a new position in BRF during the second quarter worth about $48,000. Blue Trust Inc. acquired a new position in BRF during the second quarter worth about $51,000. SPX Gestao de Recursos Ltda acquired a new position in BRF during the second quarter worth about $58,000. Finally, Headlands Technologies LLC acquired a new position in BRF during the first quarter worth about $60,000. Institutional investors and hedge funds own 4.76% of the company’s stock.

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.