Farmer Bros Co (NASDAQ:FARM) Receives Consensus Rating of “Hold” from Brokerages

Farmer Bros Co (NASDAQ:FARM) has earned a consensus recommendation of “Hold” from the seven research firms that are presently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $22.33.

A number of research firms recently issued reports on FARM. B. Riley downgraded shares of Farmer Bros from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $21.00 in a research report on Wednesday, May 8th. TheStreet cut Farmer Bros from a “c” rating to a “d+” rating in a report on Wednesday, May 8th. Lake Street Capital decreased their price target on Farmer Bros from $36.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, May 8th. ValuEngine cut Farmer Bros from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Finally, BidaskClub upgraded Farmer Bros from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 14th.

FARM opened at $16.30 on Wednesday. The business’s 50 day simple moving average is $18.41. The firm has a market cap of $281.33 million, a P/E ratio of 125.38 and a beta of 0.24. Farmer Bros has a 1 year low of $16.07 and a 1 year high of $31.50. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.93 and a current ratio of 2.03.

Farmer Bros (NASDAQ:FARM) last posted its earnings results on Tuesday, May 7th. The company reported ($3.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($3.11). The business had revenue of $146.70 million for the quarter, compared to analyst estimates of $152.03 million. Farmer Bros had a negative return on equity of 3.34% and a negative net margin of 10.72%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the company posted ($0.20) EPS. On average, analysts expect that Farmer Bros will post -0.81 EPS for the current year.

In related news, major shareholder Levin Easterly Partners Llc purchased 21,684 shares of the firm’s stock in a transaction on Tuesday, May 21st. The stock was purchased at an average price of $18.81 per share, for a total transaction of $407,876.04. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders acquired 724,424 shares of company stock valued at $14,029,384. 10.90% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Farmer Bros by 40.5% in the 4th quarter. Rhumbline Advisers now owns 15,243 shares of the company’s stock worth $356,000 after purchasing an additional 4,392 shares in the last quarter. BlackRock Inc. raised its position in shares of Farmer Bros by 6.1% during the 4th quarter. BlackRock Inc. now owns 709,790 shares of the company’s stock valued at $16,558,000 after buying an additional 40,612 shares in the last quarter. Trigran Investments Inc. raised its position in shares of Farmer Bros by 20.6% during the 4th quarter. Trigran Investments Inc. now owns 1,729,685 shares of the company’s stock valued at $40,354,000 after buying an additional 295,753 shares in the last quarter. Northern Trust Corp raised its position in shares of Farmer Bros by 2.0% during the 4th quarter. Northern Trust Corp now owns 197,008 shares of the company’s stock valued at $4,597,000 after buying an additional 3,926 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Farmer Bros by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 929,387 shares of the company’s stock valued at $21,682,000 after buying an additional 10,015 shares in the last quarter. Institutional investors own 65.40% of the company’s stock.

Farmer Bros Company Profile

Farmer Bros. Co engages in the manufacture, wholesale, and distribution of coffee, tea, and culinary products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavored and unflavored iced and hot teas; culinary products, including gelatins and puddings, soup bases, dressings, gravy and sauce mixes, pancake and biscuit mixes, jellies and preserves, and coffee-related products, such as coffee filters, sugar, and creamers; spices; and other beverages comprising cappuccino, cocoa, granitas, and ready-to-drink cold brew and iced coffee.

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