BRF (NYSE:BRFS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Wednesday.

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. “

A number of other equities research analysts have also recently issued reports on the company. Goldman Sachs Group upgraded BRF from a “sell” rating to a “buy” rating in a research note on Sunday, September 16th. UBS Group cut BRF from a “neutral” rating to a “sell” rating in a research note on Monday, October 1st. ValuEngine upgraded BRF from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Finally, Santander cut BRF from a “buy” rating to a “hold” rating in a research note on Tuesday, November 13th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. BRF currently has an average rating of “Hold” and an average price target of $7.00.

BRFS traded down $0.07 during trading hours on Wednesday, hitting $5.78. 1,969,947 shares of the stock were exchanged, compared to its average volume of 2,571,525. BRF has a 12 month low of $4.65 and a 12 month high of $12.39. The stock has a market capitalization of $4.63 billion, a PE ratio of -36.13 and a beta of 0.67. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.20 and a quick ratio of 0.74.

BRF (NYSE:BRFS) last posted its earnings results on Thursday, November 8th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.13). The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.37 billion. BRF had a negative net margin of 10.23% and a negative return on equity of 22.97%. As a group, research analysts anticipate that BRF will post -0.9 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. lifted its stake in BRF by 754.6% in the third quarter. Baillie Gifford & Co. now owns 14,118,723 shares of the company’s stock valued at $77,371,000 after buying an additional 12,466,627 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of BRF by 75.7% during the second quarter. Wells Fargo & Company MN now owns 11,642,292 shares of the company’s stock valued at $54,486,000 after purchasing an additional 5,015,200 shares during the period. Macquarie Group Ltd. increased its holdings in shares of BRF by 2.7% during the third quarter. Macquarie Group Ltd. now owns 9,065,830 shares of the company’s stock valued at $49,681,000 after purchasing an additional 235,777 shares during the period. BlackRock Inc. increased its holdings in shares of BRF by 15.6% during the third quarter. BlackRock Inc. now owns 3,831,830 shares of the company’s stock valued at $20,999,000 after purchasing an additional 518,415 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of BRF by 27.4% during the third quarter. Russell Investments Group Ltd. now owns 2,207,776 shares of the company’s stock valued at $12,215,000 after purchasing an additional 475,388 shares during the period. Institutional investors own 9.52% of the company’s stock.

About BRF

BRF SA focuses on raising, producing, and slaughtering poultry and pork for processing, production, and sale of fresh meat, processed products, pasta, sauce, mayonnaise, 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, mustard and ketchup, and sauces and mayonnaise; and soy meal and refined soy flour, as well as animal feed.

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