A number of other equities analysts also recently weighed in on the company. Lake Street Capital dropped their target price on Farmer Bros from $36.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. Roth Capital dropped their target price on Farmer Bros from $33.00 to $28.00 and set a “buy” rating on the stock in a report on Monday, May 6th. BidaskClub downgraded Farmer Bros from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. B. Riley downgraded Farmer Bros from a “buy” rating to a “neutral” rating and dropped their target price for the company from $29.00 to $21.00 in a report on Wednesday, May 8th. Finally, Zacks Investment Research downgraded Farmer Bros from a “hold” rating to a “strong sell” rating in a report on Thursday, February 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $22.33.
Shares of FARM traded up $0.27 during trading hours on Friday, reaching $19.68. The company’s stock had a trading volume of 411,174 shares, compared to its average volume of 95,978. The company has a market capitalization of $335.35 million, a price-to-earnings ratio of 151.38 and a beta of 0.15. Farmer Bros has a 1-year low of $16.92 and a 1-year high of $31.50. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.03 and a quick ratio of 0.93.
Farmer Bros (NASDAQ:FARM) last issued its earnings results on Tuesday, May 7th. The company reported ($3.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($3.11). The business had revenue of $146.70 million during the quarter, compared to analyst estimates of $152.03 million. Farmer Bros had a negative net margin of 10.72% and a negative return on equity of 3.34%. Farmer Bros’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.20) EPS. Equities research analysts expect that Farmer Bros will post -0.81 earnings per share for the current fiscal year.
In other news, major shareholder Levin Easterly Partners Llc acquired 97,879 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were purchased at an average price of $19.73 per share, for a total transaction of $1,931,152.67. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased 723,255 shares of company stock worth $14,007,856 in the last 90 days. 10.90% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA increased its holdings in Farmer Bros by 415.4% in the first quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the company’s stock worth $42,000 after buying an additional 1,695 shares during the last quarter. Legal & General Group Plc increased its holdings in Farmer Bros by 44.3% in the fourth quarter. Legal & General Group Plc now owns 2,365 shares of the company’s stock worth $55,000 after buying an additional 726 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its holdings in Farmer Bros by 389.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,145 shares of the company’s stock worth $73,000 after buying an additional 2,502 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in Farmer Bros by 63.1% in the third quarter. MetLife Investment Advisors LLC now owns 6,469 shares of the company’s stock worth $171,000 after buying an additional 2,502 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in Farmer Bros by 39.3% in the fourth quarter. Bank of America Corp DE now owns 7,573 shares of the company’s stock worth $177,000 after buying an additional 2,137 shares during the last quarter. Hedge funds and other institutional investors own 65.75% of the company’s stock.
Farmer Bros Company Profile
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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