Farmer Brothers (FARM) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of Farmer Brothers (NASDAQ:FARM) from a hold rating to a sell rating in a report published on Friday.

FARM has been the subject of a number of other reports. ValuEngine upgraded shares of Farmer Brothers from a sell rating to a hold rating in a report on Tuesday, August 22nd. Zacks Investment Research upgraded shares of Farmer Brothers from a sell rating to a hold rating and set a $35.00 price target for the company in a report on Monday, November 6th. B. Riley reiterated a buy rating and set a $38.50 price target on shares of Farmer Brothers in a report on Wednesday, November 8th. Finally, TheStreet upgraded shares of Farmer Brothers from a c+ rating to a b- rating in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $36.75.

Shares of Farmer Brothers (FARM) opened at $34.30 on Friday. Farmer Brothers has a 1-year low of $28.75 and a 1-year high of $37.35. The company has a market cap of $577.72, a price-to-earnings ratio of 67.25 and a beta of 0.45.

Farmer Brothers (NASDAQ:FARM) last posted its quarterly earnings results on Tuesday, November 7th. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. Farmer Brothers had a net margin of 4.02% and a return on equity of 4.13%. The company had revenue of $131.70 million during the quarter, compared to analyst estimates of $131.09 million. During the same period in the prior year, the business posted $0.21 EPS. The firm’s revenue was up .9% compared to the same quarter last year. equities analysts expect that Farmer Brothers will post 0.72 EPS for the current year.

In other Farmer Brothers news, CEO Michael H. Keown sold 22,000 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $30.96, for a total value of $681,120.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher P. Mottern acquired 2,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was bought at an average price of $31.45 per share, with a total value of $62,900.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 6,000 shares of company stock valued at $192,590 and sold 40,764 shares valued at $1,319,029. 9.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. raised its holdings in Farmer Brothers by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,735 shares of the company’s stock worth $143,000 after purchasing an additional 711 shares in the last quarter. Nationwide Fund Advisors grew its position in shares of Farmer Brothers by 6.9% in the 2nd quarter. Nationwide Fund Advisors now owns 5,825 shares of the company’s stock worth $176,000 after buying an additional 378 shares during the period. Citigroup Inc. grew its position in shares of Farmer Brothers by 2,043.6% in the 2nd quarter. Citigroup Inc. now owns 6,238 shares of the company’s stock worth $189,000 after buying an additional 5,947 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Farmer Brothers by 12.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,492 shares of the company’s stock worth $227,000 after buying an additional 829 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Farmer Brothers by 22.9% in the 2nd quarter. Alliancebernstein L.P. now owns 7,517 shares of the company’s stock worth $227,000 after buying an additional 1,400 shares during the period. Institutional investors and hedge funds own 55.90% of the company’s stock.

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Farmer Brothers Company Profile

Farmer Bros. Co is a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products. The Company offers private brand and consumer-branded coffee products to small independent restaurants and foodservice operators, and institutional buyers. Its product line includes organic, Direct Trade, Direct Trade Verified Sustainable (DTVS) coffees and other coffees, iced and hot teas, cappuccino, spices, and baking/biscuit mixes.

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