The stock of BRF S.A. (NYSE:BRFS) is now priced at $3.72 and the shares are 0.12 points up or 3.33% higher compared to its previous closing price of $3.6. The stock had 8.793 million contracts set over the past session. BRFS shares’ daily volume is compared to its average trading volume at 2.618 million shares. However, it has a float of 804 million and although its performance was 2.2% over the week, it’s one to watch. Analysts have given the BRFS stock a yearly average price target of $6.44 per share. It means the stock’s upside potential is 73.12% with the BRFS share price recently placing at $3.63 to $3.74. However, some brokerage firms have priced the stock below the average, including one that has called $3.55.
The shorts are running away from the BRF S.A. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the BRFS shares have declined. Short interest in the stock represents just 0.36% of its float, but the volume has dropped by 0.
In the last trading session, BRF S.A. (NYSE:BRFS) raised by $0.08 over the week and lost -$0.15 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $9.78. The stock recorded its established 52-week high on 09/25/19.
Since 03/18/20, the stock has traded to a low of $2.27 at 63.88%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.48. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, BRF S.A.’s two-week RSI is 46.02. This suggests that the stock is neutral at the moment and that BRFS shares’ price movement remains stable. The stochastic readings are equally revealing at 34.4% meaning the BRFS share price is currently in neutral territory.
The technical chart shows that the BRFS stock will likely settle at between $3.76 and $3.81 per share. However, if the stock dips below $3.65, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $3.59.
Currently, the stock is trading in the green of MACD, with a reading of 0.03. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Barclays cut their recommendation for BRFS from Overweight to Equal Weight in June 29 review. JP Morgan analysts downgraded their recommendation of the stock from Overweight to Neutral in a flash note released to investors on March 24. HSBC Securities seeing the improvements upgraded the stock from Hold to Buy on December 16.
The average rating for the BRFS equity is 2.2 and is currently gathering a bullish momentum. Of 5 analysts tracking BRF S.A. polled by Reuters, 2 rated BRFS as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the BRFS stock price is 12.83X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 13 below the group’s average of 29. BRF S.A. has its P/E ratio at 2.4, which means that the stock is currently trading at a discount relative to the 2.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for BRF S.A. (NYSE:BRFS) will decrease by about -79.68%, which will see them reach $1850 million. The company’s full-year revenues are, however, expected to diminish by about -15.21%, down from $8480 million to $7190 million. BRFS’s expected adjusted earnings should drop almost -57.14% to end up at $0.06 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -47.37% to record $0.2/share.