Roth Capital restated their buy rating on shares of Farmer Bros (NASDAQ:FARM) in a research note published on Thursday morning, MarketBeat reports. Roth Capital currently has a $41.00 target price on the stock.
Other analysts also recently issued reports about the company. BidaskClub raised Farmer Bros from a strong sell rating to a sell rating in a research report on Wednesday, February 7th. Zacks Investment Research raised Farmer Bros from a hold rating to a buy rating and set a $36.00 price objective for the company in a research report on Thursday, February 8th. TheStreet downgraded Farmer Bros from a b- rating to a c rating in a research report on Tuesday, February 6th. Finally, B. Riley reissued a buy rating and set a $38.50 price objective on shares of Farmer Bros in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Farmer Bros presently has a consensus rating of Buy and an average price target of $38.50.
Shares of Farmer Bros (NASDAQ FARM) opened at $32.10 on Thursday. The stock has a market capitalization of $542.48, a PE ratio of 59.44 and a beta of 0.52. Farmer Bros has a 52-week low of $28.75 and a 52-week high of $37.35.
In other news, Director Christopher P. Mottern bought 1,500 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was bought at an average cost of $30.26 per share, for a total transaction of $45,390.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jeanne Farmer Grossman sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $31.80, for a total value of $636,000.00. Following the transaction, the director now owns 18,874 shares of the company’s stock, valued at $600,193.20. The disclosure for this sale can be found here. Company insiders own 9.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in FARM. MetLife Investment Advisors LLC purchased a new position in Farmer Bros during the 4th quarter valued at about $128,000. Nationwide Fund Advisors boosted its stake in shares of Farmer Bros by 6.9% in the 2nd quarter. Nationwide Fund Advisors now owns 5,825 shares of the company’s stock valued at $176,000 after buying an additional 378 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Farmer Bros by 12.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,492 shares of the company’s stock valued at $227,000 after buying an additional 829 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Farmer Bros by 22.9% in the 2nd quarter. Alliancebernstein L.P. now owns 7,517 shares of the company’s stock valued at $227,000 after buying an additional 1,400 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of Farmer Bros by 11.1% in the 2nd quarter. Wells Fargo & Company MN now owns 9,204 shares of the company’s stock valued at $279,000 after buying an additional 923 shares during the period. Institutional investors own 56.28% of the company’s stock.
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Farmer Bros 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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