Farmer Bros Co (NASDAQ:FARM) has received a consensus rating of “Buy” from the six brokerages that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $38.50.
Several research analysts have recently commented on the stock. BidaskClub raised shares of Farmer Bros from a “sell” rating to a “hold” rating in a report on Wednesday, February 14th. Roth Capital reaffirmed a “buy” rating and issued a $41.00 price target on shares of Farmer Bros in a report on Thursday, March 8th. TheStreet lowered shares of Farmer Bros from a “b-” rating to a “c” rating in a report on Tuesday, February 6th. Finally, Zacks Investment Research raised shares of Farmer Bros from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Thursday, February 8th.
Farmer Bros (NASDAQ:FARM) traded up $0.20 during midday trading on Thursday, hitting $33.30. 52,506 shares of the stock traded hands, compared to its average volume of 85,627. Farmer Bros has a 1-year low of $28.75 and a 1-year high of $37.35. The firm has a market cap of $562.76, a price-to-earnings ratio of -14.87 and a beta of 0.52.
In other Farmer Bros news, Director Jeanne Farmer Grossman sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $31.80, for a total transaction of $636,000.00. Following the completion of the transaction, the director now directly owns 18,874 shares of the company’s stock, valued at approximately $600,193.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christopher P. Mottern bought 1,500 shares of Farmer Bros stock in a transaction on Wednesday, February 14th. The shares were purchased at an average cost of $30.26 per share, with a total value of $45,390.00. The disclosure for this purchase can be found here. Insiders own 9.30% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Nationwide Fund Advisors lifted 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 worth $176,000 after acquiring an additional 378 shares during the period. The Manufacturers Life Insurance Company lifted 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 worth $227,000 after acquiring an additional 829 shares during the period. Wells Fargo & Company MN lifted 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 worth $279,000 after acquiring an additional 923 shares during the period. Alliancebernstein L.P. lifted 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 worth $227,000 after acquiring an additional 1,400 shares during the period. Finally, Strs Ohio lifted its stake in shares of Farmer Bros by 8.5% in the 3rd quarter. Strs Ohio now owns 21,600 shares of the company’s stock worth $709,000 after acquiring an additional 1,700 shares during the period. 56.28% of the stock is owned by hedge funds and other institutional investors.
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About Farmer Bros
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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