Farmer Bros (NASDAQ:FARM) posted its quarterly earnings results on Tuesday. The company reported ($0.52) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.37), Morningstar.com reports. Farmer Bros had a negative net margin of 10.72% and a negative return on equity of 3.34%. The business had revenue of $142.05 million during the quarter, compared to the consensus estimate of $146.90 million.
NASDAQ FARM opened at $11.77 on Thursday. The company has a quick ratio of 0.93, a current ratio of 2.03 and a debt-to-equity ratio of 0.74. The firm has a market cap of $224.25 million, a PE ratio of 90.54, a price-to-earnings-growth ratio of 7.83 and a beta of 0.13. The company has a 50 day moving average price of $13.69 and a 200 day moving average price of $18.15. Farmer Bros has a 52 week low of $10.26 and a 52 week high of $29.50.
In other news, major shareholder Levin Easterly Partners Llc acquired 94,497 shares of Farmer Bros stock in a transaction that occurred on Wednesday, June 19th. The stock was purchased at an average price of $17.02 per share, for a total transaction of $1,608,338.94. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last quarter, insiders have purchased 111,260 shares of company stock valued at $1,878,262. 10.90% of the stock is currently owned by company insiders.
Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Farmer Bros from a “hold” rating to a “buy” rating in a report on Monday, August 12th. B. Riley reduced their price objective on shares of Farmer Bros from $21.00 to $10.50 and set a “neutral” rating for the company in a research note on Wednesday. Lake Street Capital reduced their price objective on shares of Farmer Bros from $26.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Zacks Investment Research upgraded shares of Farmer Bros from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, BidaskClub lowered shares of Farmer Bros from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Farmer Bros presently has an average rating of “Hold” and a consensus target price of $15.17.
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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