Farmer Bros Co (NASDAQ:FARM) Receives $12.17 Average Target Price from Analysts

Shares of Farmer Bros Co (NASDAQ:FARM) have been given a consensus rating of “Hold” by the seven analysts that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $12.17.

Several equities research analysts have issued reports on the company. ValuEngine raised Farmer Bros from a “hold” rating to a “buy” rating in a research note on Monday, August 12th. BidaskClub cut Farmer Bros from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 7th. Roth Capital cut their target price on Farmer Bros from $20.00 to $11.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Zacks Investment Research cut Farmer Bros from a “hold” rating to a “sell” rating in a research note on Friday, September 13th. Finally, Lake Street Capital cut their target price on Farmer Bros from $26.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th.

In other news, Director Randy E. Clark acquired 3,000 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was acquired at an average cost of $14.11 per share, with a total value of $42,330.00. Following the completion of the purchase, the director now owns 21,928 shares of the company’s stock, valued at approximately $309,404.08. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Levin Easterly Partners Llc acquired 9,342 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was purchased at an average cost of $16.47 per share, with a total value of $153,862.74. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 16,871 shares of company stock valued at $259,561. 10.90% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in shares of Farmer Bros by 22.7% in the second quarter. JPMorgan Chase & Co. now owns 3,772 shares of the company’s stock valued at $60,000 after buying an additional 698 shares in the last quarter. Swiss National Bank grew its stake in shares of Farmer Bros by 5.1% in the second quarter. Swiss National Bank now owns 20,500 shares of the company’s stock valued at $336,000 after buying an additional 1,000 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Farmer Bros by 5.5% in the second quarter. Wells Fargo & Company MN now owns 19,632 shares of the company’s stock valued at $322,000 after buying an additional 1,016 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Farmer Bros by 415.4% in the first quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the company’s stock valued at $42,000 after buying an additional 1,695 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. grew its stake in shares of Farmer Bros by 2.4% in the first quarter. Punch & Associates Investment Management Inc. now owns 363,262 shares of the company’s stock valued at $7,269,000 after buying an additional 8,470 shares in the last quarter. 83.83% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:FARM traded up $0.10 during midday trading on Friday, hitting $13.96. The company had a trading volume of 3,951 shares, compared to its average volume of 206,190. Farmer Bros has a twelve month low of $10.26 and a twelve month high of $26.25. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.66 and a quick ratio of 0.75. The stock has a market cap of $239.64 million, a price-to-earnings ratio of -12.92 and a beta of 0.22. The business’s 50-day simple moving average is $12.98 and its 200-day simple moving average is $16.76.

Farmer Bros (NASDAQ:FARM) last posted its quarterly earnings results on Tuesday, September 10th. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.37). The company had revenue of $142.05 million during the quarter, compared to analyst estimates of $146.90 million. Farmer Bros had a negative net margin of 12.35% and a negative return on equity of 9.51%. As a group, sell-side analysts forecast that Farmer Bros will post -0.53 EPS for the current year.

About Farmer Bros

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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