Farmer Bros. (NASDAQ:FARM) Upgraded to “Buy” at StockNews.com

Farmer Bros. (NASDAQ:FARM) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Farmer Bros. Stock Down 0.6 %

NASDAQ:FARM traded down $0.02 during mid-day trading on Friday, hitting $3.13. 58,884 shares of the company’s stock traded hands, compared to its average volume of 79,668. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.67 and a current ratio of 1.42. The company has a market capitalization of $65.95 million, a P/E ratio of -1.11 and a beta of 1.77. The company has a fifty day moving average of $3.41 and a 200 day moving average of $3.19. Farmer Bros. has a twelve month low of $1.75 and a twelve month high of $4.04.

Farmer Bros. (NASDAQ:FARM) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.11. The firm had revenue of $89.45 million during the quarter, compared to analyst estimates of $88.50 million. Farmer Bros. had a negative net margin of 14.91% and a negative return on equity of 65.75%. On average, analysts forecast that Farmer Bros. will post -0.74 EPS for the current year.

Institutional Investors Weigh In On Farmer Bros.

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kestra Private Wealth Services LLC purchased a new position in Farmer Bros. during the 3rd quarter worth approximately $31,000. Global Wealth Management Investment Advisory Inc. acquired a new position in Farmer Bros. during the third quarter valued at $31,000. AE Wealth Management LLC acquired a new position in Farmer Bros. during the third quarter valued at $31,000. Hodges Capital Management Inc. purchased a new stake in Farmer Bros. in the third quarter valued at $148,000. Finally, Sanders Morris Harris LLC acquired a new stake in Farmer Bros. during the 1st quarter worth about $250,000. Institutional investors and hedge funds 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.