BidaskClub Lowers Farmer Bros (FARM) to Strong Sell

BidaskClub downgraded shares of Farmer Bros (NASDAQ:FARM) from a sell rating to a strong sell rating in a research report sent to investors on Thursday.

Other equities research analysts also recently issued reports about the stock. B. Riley lowered their target price on shares of Farmer Bros from $34.00 to $32.00 and set a buy rating for the company in a research note on Thursday, September 27th. Zacks Investment Research downgraded shares of Farmer Bros from a hold rating to a strong sell rating in a research note on Friday, November 9th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Farmer Bros currently has an average rating of Hold and a consensus price target of $33.75.

Shares of FARM opened at $23.55 on Thursday. Farmer Bros has a twelve month low of $23.02 and a twelve month high of $34.95.

Farmer Bros (NASDAQ:FARM) last announced its earnings results on Wednesday, November 7th. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.09). The firm had revenue of $147.44 million during the quarter, compared to analyst estimates of $146.39 million. Farmer Bros had a negative net margin of 4.10% and a negative return on equity of 0.57%. Farmer Bros’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business earned $0.05 earnings per share. On average, sell-side analysts expect that Farmer Bros will post 0.18 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its stake in shares of Farmer Bros by 3.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 54,501 shares of the company’s stock worth $1,666,000 after buying an additional 1,788 shares during the period. First Trust Advisors LP lifted its stake in shares of Farmer Bros by 18.2% during the second quarter. First Trust Advisors LP now owns 12,087 shares of the company’s stock worth $369,000 after buying an additional 1,860 shares during the period. US Bancorp DE lifted its stake in shares of Farmer Bros by 5.8% during the third quarter. US Bancorp DE now owns 45,448 shares of the company’s stock worth $1,200,000 after buying an additional 2,500 shares during the period. MetLife Investment Advisors LLC lifted its stake in shares of Farmer Bros by 63.1% during the third quarter. MetLife Investment Advisors LLC now owns 6,469 shares of the company’s stock worth $171,000 after buying an additional 2,502 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Farmer Bros by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 92,054 shares of the company’s stock worth $2,813,000 after buying an additional 3,577 shares during the period. Institutional investors and hedge funds own 60.32% 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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