Zacks Investment Research downgraded shares of BRF (NYSE:BRFS) from a buy rating to a hold rating in a research note released on Monday morning, reports.

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. “

Other research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Monday, May 13th. Santander raised shares of BRF from a hold rating to a buy rating in a research report on Monday, April 1st. Barclays reissued a hold rating on shares of Mettler-Toledo International in a research report on Wednesday, May 15th. Finally, JPMorgan Chase & Co. raised shares of Scor from a neutral rating to an overweight rating in a research report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of Buy and an average target price of $8.58.

Shares of BRFS stock opened at $9.00 on Monday. The firm’s 50-day moving average price is $7.63. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.82 and a current ratio of 1.21. BRF has a twelve month low of $4.71 and a twelve month high of $9.37.

BRF (NYSE:BRFS) last announced its quarterly earnings results on Friday, May 10th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.02. The firm had revenue of $1.95 billion for the quarter, compared to analysts’ expectations of $2.01 billion. BRF had a negative net margin of 16.41% and a negative return on equity of 30.33%. As a group, analysts forecast that BRF will post -0.02 earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clarfeld Financial Advisors LLC acquired a new position in BRF in the fourth quarter valued at about $25,000. Citizens Financial Group Inc RI acquired a new position in BRF in the first quarter valued at about $26,000. Quantamental Technologies LLC acquired a new position in BRF in the first quarter valued at about $39,000. Quadrant Capital Group LLC lifted its position in BRF by 29.1% in the first quarter. Quadrant Capital Group LLC now owns 7,672 shares of the company’s stock valued at $43,000 after buying an additional 1,729 shares during the last quarter. Finally, HRT Financial LLC acquired a new position in BRF in the fourth quarter valued at about $58,000. 12.21% of the stock is currently owned by institutional investors.

About BRF

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

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