JPMorgan Chase & Co. upgraded shares of BRF (NYSE:BRFS) from a neutral rating to an overweight rating in a research note released on Thursday morning, BenzingaRatingsTable reports. JPMorgan Chase & Co. currently has $8.00 price target on the stock.
A number of other brokerages have also weighed in on BRFS. Barclays restated a buy rating and set a $7.00 price objective on shares of BRF in a research report on Sunday, March 3rd. Zacks Investment Research upgraded BRF from a sell rating to a hold rating in a research report on Tuesday, March 5th. ValuEngine upgraded BRF from a sell rating to a hold rating in a research report on Friday, March 15th. Finally, Santander upgraded BRF from a hold rating to a buy rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $8.58.
Shares of BRFS opened at $7.34 on Thursday. BRF has a 52-week low of $4.65 and a 52-week high of $8.12. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.82 and a current ratio of 1.21. The firm has a market capitalization of $5.96 billion, a PE ratio of -13.59 and a beta of 0.78.
BRF (NYSE:BRFS) last issued its quarterly earnings results on Friday, May 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. BRF had a negative return on equity of 30.33% and a negative net margin of 16.41%. The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.01 billion. Equities research analysts expect that BRF will post -0.03 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of BRFS. BlackRock Inc. grew its position in BRF by 297.3% during the 1st quarter. BlackRock Inc. now owns 10,713,167 shares of the company’s stock worth $62,351,000 after acquiring an additional 8,016,987 shares during the last quarter. Baillie Gifford & Co. grew its position in BRF by 22.8% during the 4th quarter. Baillie Gifford & Co. now owns 17,336,132 shares of the company’s stock worth $98,469,000 after acquiring an additional 3,217,409 shares during the last quarter. INCA Investments LLC grew its position in BRF by 35.8% during the 1st quarter. INCA Investments LLC now owns 10,318,069 shares of the company’s stock worth $60,051,000 after acquiring an additional 2,721,910 shares during the last quarter. Macquarie Group Ltd. grew its position in BRF by 14.1% during the 4th quarter. Macquarie Group Ltd. now owns 10,343,541 shares of the company’s stock worth $58,751,000 after acquiring an additional 1,277,711 shares during the last quarter. Finally, Norges Bank acquired a new position in BRF during the 4th quarter worth about $7,062,000. Institutional investors and hedge funds own 12.32% of the company’s stock.
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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