BRF (NYSE:BRFS) Trading 4.9% Higher – Here’s What Happened

Brf S.A. (NYSE:BRFS)’s stock price shot up 4.9% during mid-day trading on Tuesday . The company traded as high as $3.49 and last traded at $3.51. 558,111 shares were traded during trading, a decline of 78% from the average session volume of 2,517,413 shares. The stock had previously closed at $3.34.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup upgraded BRF from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. StockNews.com lowered BRF from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 20th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.70.

BRF Stock Up 3.6 %

The company’s fifty day simple moving average is $3.48 and its 200 day simple moving average is $4.03. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $3.75 billion, a PE ratio of 8.05, a price-to-earnings-growth ratio of 0.19 and a beta of 1.90.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC boosted its stake in BRF by 16.6% during the fourth quarter. Renaissance Technologies LLC now owns 7,682,476 shares of the company’s stock worth $31,268,000 after acquiring an additional 1,096,016 shares in the last quarter. Marshall Wace LLP boosted its position in shares of BRF by 16.0% in the 4th quarter. Marshall Wace LLP now owns 4,975,651 shares of the company’s stock worth $20,251,000 after purchasing an additional 687,243 shares in the last quarter. Millennium Management LLC boosted its position in shares of BRF by 81.3% in the 4th quarter. Millennium Management LLC now owns 4,454,095 shares of the company’s stock worth $18,128,000 after purchasing an additional 1,996,890 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in BRF during the 4th quarter valued at approximately $9,258,000. Finally, Two Sigma Investments LP raised its stake in BRF by 4.3% during the fourth quarter. Two Sigma Investments LP now owns 2,217,514 shares of the company’s stock valued at $9,025,000 after buying an additional 91,268 shares during the last quarter. 4.76% of the stock is currently 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.