BRF (NYSE:BRFS) Shares Gap Up to $1.19

Posted by on Apr 23rd, 2023

Brf S.A. (NYSE:BRFS – Get Rating) gapped up prior to trading on Friday . The stock had previously closed at $1.19, but opened at $1.23. BRF shares last traded at $1.23, with a volume of 29,505 shares.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Bank of America lowered BRF from a “neutral” rating to an “underperform” rating in a report on Wednesday, April 12th. Barclays cut their price target on shares of BRF from $2.50 to $1.50 and set an “equal weight” rating on the stock in a report on Wednesday, February 22nd. StockNews.com initiated coverage on BRF in a report on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Morgan Stanley raised BRF from an “underweight” rating to an “equal weight” rating in a report on Monday, February 13th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $1.95.

BRF Stock Performance

The company has a current ratio of 1.19, a quick ratio of 0.66 and a debt-to-equity ratio of 1.66. The stock’s fifty day simple moving average is $1.28 and its 200 day simple moving average is $1.67. The company has a market cap of $970.09 million, a price-to-earnings ratio of -5.71 and a beta of 1.67.

Hedge Funds Weigh In On BRF

Large investors have recently modified their holdings of the business. Hsbc Holdings PLC boosted its holdings in BRF by 1.7% during the 1st quarter. Hsbc Holdings PLC now owns 234,231 shares of the company’s stock valued at $928,000 after acquiring an additional 3,936 shares during the period. Comerica Bank raised its holdings in shares of BRF by 42.0% in the 3rd quarter. Comerica Bank now owns 17,810 shares of the company’s stock valued at $46,000 after purchasing an additional 5,270 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of BRF by 42.0% during the third quarter. Yousif Capital Management LLC now owns 17,810 shares of the company’s stock worth $42,000 after purchasing an additional 5,270 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of BRF by 64.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 16,636 shares of the company’s stock worth $38,000 after acquiring an additional 6,509 shares in the last quarter. Finally, Inspire Advisors LLC lifted its stake in BRF by 39.6% during the fourth quarter. Inspire Advisors LLC now owns 25,021 shares of the company’s stock worth $40,000 after purchasing an additional 7,096 shares during the last quarter. Institutional investors and hedge funds own 8.24% of the company’s stock.

About BRF

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BRF SA engages in the production and distribution of fresh and frozen protein foods. Its processed products include marinated and frozen chicken, rooster and turkey meats, specialty meats, frozen processed meats, frozen prepared entrees, portioned products, and sliced products. The firm also offers margarine, butter, cream cheese, sweet specialties, sandwiches, plant-based products, and animal feed.

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