Farmer Bros (FARM) Rating Lowered to Hold at BidaskClub

BidaskClub downgraded shares of Farmer Bros (NASDAQ:FARM) from a buy rating to a hold rating in a report published on Friday.

Several other equities research analysts have also issued reports on the company. Zacks Investment Research lowered Farmer Bros from a buy rating to a hold rating in a report on Tuesday, January 9th. TheStreet lowered Farmer Bros from a b- rating to a c rating in a report on Tuesday, February 6th. Finally, Roth Capital reiterated a buy rating and set a $41.00 price target on shares of Farmer Bros in a report on Thursday, March 8th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Farmer Bros has an average rating of Buy and an average price target of $38.50.

Shares of Farmer Bros (NASDAQ:FARM) traded down $0.60 during trading on Friday, hitting $30.90. The stock had a trading volume of 44,476 shares, compared to its average volume of 87,367. The firm has a market cap of $532.34, a price-to-earnings ratio of -30.29 and a beta of 0.52. Farmer Bros has a fifty-two week low of $28.75 and a fifty-two week high of $37.35.

Farmer Bros (NASDAQ:FARM) last announced its quarterly earnings results on Tuesday, February 6th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($1.27). The firm had revenue of $167.37 million for the quarter, compared to analyst estimates of $161.62 million. Farmer Bros had a negative net margin of 2.98% and a positive return on equity of 4.43%. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 earnings per share. sell-side analysts predict that Farmer Bros will post -0.59 EPS for the current fiscal year.

In related news, Director Christopher P. Mottern bought 1,500 shares of Farmer Bros stock in a transaction that occurred on Wednesday, February 14th. The stock was purchased at an average cost of $30.26 per share, for a total transaction of $45,390.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jeanne Farmer Grossman sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $31.80, for a total value of $636,000.00. Following the completion of the sale, 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. 9.20% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of FARM. State Street Corp lifted its holdings in Farmer Bros by 11.6% in the 2nd quarter. State Street Corp now owns 145,701 shares of the company’s stock worth $4,405,000 after purchasing an additional 15,188 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in 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 purchasing an additional 829 shares during the last quarter. Trexquant Investment LP acquired a new stake in Farmer Bros in the 3rd quarter worth approximately $376,000. Citadel Advisors LLC lifted its holdings in Farmer Bros by 109.1% in the 3rd quarter. Citadel Advisors LLC now owns 26,508 shares of the company’s stock worth $871,000 after purchasing an additional 13,832 shares during the last quarter. Finally, Picton Mahoney Asset Management lifted its holdings in Farmer Bros by 334.5% in the 3rd quarter. Picton Mahoney Asset Management now owns 224,200 shares of the company’s stock worth $7,365,000 after purchasing an additional 172,600 shares during the last quarter. Hedge funds and other institutional investors own 56.28% of the company’s stock.

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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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