According to Zacks, “Farmer Bros. Co. is in the business of roasting, packaging and distributing coffee and allied products to restaurants, hotels, hospitals, convenience stores and fast food outlets. The company’s primary raw material is green coffee. Green coffee is purchased through domestic commodity brokers. Coffee is an agricultural commodity, and is subject to fluctuations of both price and supply. “
A number of other research firms have also weighed in on FARM. ValuEngine lowered Virtu Financial from a hold rating to a sell rating in a report on Tuesday, June 18th. TheStreet upgraded WillScot from a d- rating to a c- rating in a report on Wednesday, May 8th. Roth Capital reiterated a neutral rating and set a $20.00 price target (down from $28.00) on shares of Farmer Bros in a report on Wednesday, May 8th. BidaskClub upgraded Misonix from a buy rating to a strong-buy rating in a report on Wednesday, July 3rd. Finally, Lake Street Capital dropped their price target on Farmer Bros from $36.00 to $26.00 and set a buy rating on the stock in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Farmer Bros has an average rating of Hold and an average target price of $22.33.
FARM stock opened at $17.05 on Wednesday. Farmer Bros has a twelve month low of $15.58 and a twelve month high of $30.20. 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 50 day moving average of $17.81. The company has a market capitalization of $290.53 million, a price-to-earnings ratio of 131.15, a PEG ratio of 10.14 and a beta of 0.12.
Farmer Bros (NASDAQ:FARM) last posted its earnings results on Tuesday, May 7th. The company reported ($3.05) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($3.11). Farmer Bros had a negative net margin of 10.72% and a negative return on equity of 3.34%. The company had revenue of $146.70 million during the quarter, compared to the consensus estimate of $152.03 million. During the same quarter in the prior year, the business earned ($0.20) EPS. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. On average, research analysts expect that Farmer Bros will post -0.81 EPS for the current year.
In other Farmer Bros news, major shareholder Levin Easterly Partners Llc purchased 9,019 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average cost of $19.86 per share, for a total transaction of $179,117.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have purchased 259,730 shares of company stock worth $4,805,208 over the last quarter. 10.90% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA raised its stake in shares of Farmer Bros by 415.4% in the first quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the company’s stock valued at $42,000 after buying an additional 1,695 shares during the period. Legal & General Group Plc raised its stake in shares of Farmer Bros by 44.3% in the fourth quarter. Legal & General Group Plc now owns 2,365 shares of the company’s stock valued at $55,000 after buying an additional 726 shares during the period. Metropolitan Life Insurance Co. NY raised its stake in shares of Farmer Bros by 389.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,145 shares of the company’s stock valued at $73,000 after buying an additional 2,502 shares during the period. Bank of America Corp DE raised its stake in shares of Farmer Bros by 39.3% in the fourth quarter. Bank of America Corp DE now owns 7,573 shares of the company’s stock valued at $177,000 after buying an additional 2,137 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Farmer Bros in the fourth quarter valued at $225,000. Hedge funds and other institutional investors own 65.40% 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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