BidaskClub Upgrades BRF S.A. (NYSE:BRFS) to Sell
BRF S.A. (NYSE:BRFS) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Saturday.
BRFS has been the topic of several other research reports. Zacks Investment Research cut BRF from a “hold” rating to a “sell” rating in a report on Thursday, June 15th. Bank of America Corporation reiterated a “buy” rating on shares of BRF in a report on Thursday, May 25th. Barclays PLC initiated coverage on BRF in a report on Tuesday, June 6th. They set an “equal weight” rating and a $14.00 price objective on the stock. Finally, Citigroup Inc. cut BRF from a “buy” rating to a “neutral” rating in a report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. BRF has an average rating of “Hold” and an average target price of $14.00.
Shares of BRF (BRFS) opened at 12.38 on Friday. BRF has a 52-week low of $10.60 and a 52-week high of $18.12. The stock’s market capitalization is $9.89 billion. The stock has a 50 day moving average of $11.92 and a 200-day moving average of $12.81.
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Several institutional investors have recently added to or reduced their stakes in the stock. Legato Capital Management LLC boosted its position in BRF by 448.3% in the first quarter. Legato Capital Management LLC now owns 868,525 shares of the company’s stock valued at $70,900,000 after buying an additional 710,125 shares during the period. Westpac Banking Corp boosted its position in BRF by 1.7% in the first quarter. Westpac Banking Corp now owns 1,310,572 shares of the company’s stock valued at $16,055,000 after buying an additional 21,750 shares during the period. Stevens Capital Management LP boosted its position in BRF by 86.1% in the first quarter. Stevens Capital Management LP now owns 38,017 shares of the company’s stock valued at $466,000 after buying an additional 17,588 shares during the period. Investec Asset Management LTD acquired a new position in BRF during the first quarter valued at $7,917,000. Finally, OLD National Bancorp IN acquired a new position in BRF during the second quarter valued at $212,000. Institutional investors and hedge funds own 9.41% of the company’s stock.
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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