Farmer Brothers (FARM) Upgraded to “Sell” at BidaskClub

Farmer Brothers (NASDAQ:FARM) was upgraded by equities researchers at BidaskClub from a “strong sell” rating to a “sell” rating in a note issued to investors on Friday.

Several other equities analysts have also issued reports on FARM. Zacks Investment Research raised Farmer Brothers from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Thursday, February 8th. TheStreet lowered Farmer Brothers from a “b-” rating to a “c” rating in a research note on Tuesday, February 6th. Roth Capital reaffirmed a “buy” rating and set a $41.00 price target on shares of Farmer Brothers in a research note on Thursday, March 8th. Lake Street Capital reaffirmed a “buy” rating and set a $36.00 price target (down previously from $40.00) on shares of Farmer Brothers in a research note on Wednesday, May 9th. Finally, B. Riley cut their price target on Farmer Brothers from $38.50 to $34.00 and set a “buy” rating on the stock in a research note on Wednesday, May 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Farmer Brothers has a consensus rating of “Hold” and an average target price of $34.25.

Shares of Farmer Brothers opened at $26.80 on Friday, according to MarketBeat Ratings. Farmer Brothers has a 12-month low of $24.20 and a 12-month high of $25.20. The firm has a market cap of $407.12 million, a PE ratio of 38.29 and a beta of 0.48.

Farmer Brothers (NASDAQ:FARM) last issued its quarterly earnings results on Tuesday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.40). Farmer Brothers had a negative net margin of 3.82% and a positive return on equity of 1.41%. The firm had revenue of $157.93 million for the quarter, compared to analyst estimates of $161.46 million. During the same period last year, the company earned $0.17 EPS. The company’s revenue was up 14.3% compared to the same quarter last year. analysts forecast that Farmer Brothers will post -1.18 EPS for the current fiscal year.

In related news, Director Jeanne Farmer Grossman sold 20,000 shares of the company’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $31.80, for a total value of $636,000.00. Following the completion of the sale, the director now owns 18,874 shares in the company, valued at $600,193.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. increased its holdings in Farmer Brothers by 4.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 44,591 shares of the company’s stock valued at $1,434,000 after purchasing an additional 2,028 shares during the last quarter. Barclays PLC increased its holdings in Farmer Brothers by 27.7% in the first quarter. Barclays PLC now owns 11,044 shares of the company’s stock valued at $335,000 after purchasing an additional 2,393 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Farmer Brothers by 18.3% in the fourth quarter. Wells Fargo & Company MN now owns 16,172 shares of the company’s stock valued at $520,000 after purchasing an additional 2,502 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Farmer Brothers by 11.9% in the first quarter. Russell Investments Group Ltd. now owns 27,263 shares of the company’s stock valued at $824,000 after purchasing an additional 2,891 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Farmer Brothers by 171.3% in the first quarter. JPMorgan Chase & Co. now owns 6,269 shares of the company’s stock valued at $189,000 after purchasing an additional 3,958 shares during the last quarter. Institutional investors and hedge funds own 57.30% of the company’s stock.

About Farmer Brothers

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 iced coffee.

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