Farmer Bros. (NASDAQ:FARM) Lowered to Hold at StockNews.com

StockNews.com cut shares of Farmer Bros. (NASDAQ:FARM) from a buy rating to a hold rating in a report released on Monday morning.

Separately, Craig Hallum initiated coverage on shares of Farmer Bros. in a report on Monday, June 17th. They issued a buy rating and a $6.00 price objective for the company.

Farmer Bros. Stock Down 5.2 %

Shares of NASDAQ:FARM opened at $2.19 on Monday. The firm has a fifty day moving average of $2.68 and a 200 day moving average of $2.97. Farmer Bros. has a 52-week low of $2.15 and a 52-week high of $4.04. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.65 and a current ratio of 1.42. The firm has a market capitalization of $46.57 million, a PE ratio of -0.96 and a beta of 1.79.

Farmer Bros. (NASDAQ:FARM) last announced its quarterly earnings data on Thursday, September 12th. The company reported ($0.22) EPS for the quarter, meeting the consensus estimate of ($0.22). The firm had revenue of $84.40 million for the quarter, compared to analyst estimates of $81.30 million. Farmer Bros. had a negative return on equity of 58.82% and a negative net margin of 13.46%. During the same period in the prior year, the company earned ($0.84) EPS. As a group, research analysts anticipate that Farmer Bros. will post -0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Farmer Bros.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Farmer Bros. by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 824,528 shares of the company’s stock valued at $2,944,000 after buying an additional 65,277 shares during the last quarter. Sanders Morris Harris LLC purchased a new stake in Farmer Bros. in the 1st quarter worth approximately $250,000. Dimensional Fund Advisors LP grew its position in shares of Farmer Bros. by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 367,919 shares of the company’s stock worth $986,000 after buying an additional 17,327 shares during the last quarter. Finally, Renaissance Technologies LLC increased its stake in shares of Farmer Bros. by 1.4% during the second quarter. Renaissance Technologies LLC now owns 559,500 shares of the company’s stock valued at $1,499,000 after buying an additional 7,600 shares during the period. Institutional investors own 64.48% of the company’s stock.

Farmer Bros. Company Profile

Farmer Bros. Co engages in the roasting, wholesale, equipment servicing, and distribution of coffee, tea, and other allied products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavoured and unflavoured iced and hot teas; culinary products, including spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, and syrups and sauces, as well as coffee filters, cups, sugar, and creamers; and other beverages comprising cappuccino, cocoa, granitas, and other blender-based beverages and concentrated and ready-to-drink cold brew and iced coffee.