BRF SA (BRFS) Upgraded by Zacks Investment Research to Hold
BRF SA (NYSE:BRFS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “BRF Brasil Foods SA, formerly Perdigao S.A., is a Brazil-based food company focused on the production and sale of poultry, pork, beef cuts, milk, dairy products, and processed food products. The Company’s products include frozen whole and cut chickens; frozen pork cuts and beef cuts; processed food products, such as marinated frozen whole and cut chickens, roosters (sold under the Chester brand) and turkeys; specialty meats, such as sausages, ham products, bologna, frankfurters, salamis, bacon and other smoked products; frozen processed meats, such as hamburgers, steaks, breaded meat products, kibes and meatballs, and frozen processed vegetarian foods; frozen prepared entrees, such as lasagnas and pizzas, as well as other frozen foods, including vegetables, cheese bread and pies; dairy products, such as cheeses, powdered milk and yogurts; juices, soy milk and soy juices; margarine; milk, and soy meal and refined soy flour, as well as animal feed. “
Several other research firms also recently commented on BRFS. BidaskClub downgraded shares of BRF SA from a “hold” rating to a “sell” rating in a research note on Wednesday, June 14th. Citigroup Inc. downgraded shares of BRF SA from a “buy” rating to a “neutral” rating in a research note on Monday, July 10th. Barclays PLC initiated coverage on shares of BRF SA in a research note on Tuesday, June 6th. They issued an “equal weight” rating and a $14.00 price target for the company. Bank of America Corporation restated a “buy” rating on shares of BRF SA in a research note on Thursday, May 25th. Finally, J P Morgan Chase & Co upgraded shares of BRF SA from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $13.00 to $16.00 in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $15.00.
BRF SA (NYSE:BRFS) traded down 0.07% during mid-day trading on Monday, reaching $14.78. The company’s stock had a trading volume of 1,232,228 shares. The company’s 50-day moving average price is $13.22 and its 200 day moving average price is $12.68. BRF SA has a 52 week low of $10.60 and a 52 week high of $18.12. The firm’s market capitalization is $11.81 billion.
Several institutional investors have recently added to or reduced their stakes in BRFS. Baldwin Investment Management LLC lifted its position in shares of BRF SA by 1.1% during the 2nd quarter. Baldwin Investment Management LLC now owns 10,365 shares of the company’s stock worth $122,000 after purchasing an additional 111 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of BRF SA during the 2nd quarter worth $139,000. Kissinger Financial Services LLC purchased a new stake in shares of BRF SA during the 2nd quarter worth $148,000. Gould Asset Management LLC CA lifted its position in shares of BRF SA by 4.0% during the 1st quarter. Gould Asset Management LLC CA now owns 12,576 shares of the company’s stock worth $154,000 after purchasing an additional 485 shares during the last quarter. Finally, D.A. Davidson & CO. purchased a new stake in shares of BRF SA during the 2nd quarter worth $192,000. 7.95% of the stock is owned by institutional investors and hedge funds.
BRF SA Company Profile
BRF SA is a multinational Brazilian company that owns a diverse portfolio of products and is a producer of foods. The Company’s segments include Brazil, Latin America (LATAM), Europe, Middle East and North of Africa (MENA), Asia, Africa and Other Segments. These segments include sales of all distribution channels and operations subdivided in to poultry, pork and other, processed, and other sales.
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