Farmer Bros (NASDAQ:FARM) had its target price reduced by stock analysts at Lake Street Capital from $26.00 to $15.00 in a report issued on Wednesday, The Fly reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s price objective would indicate a potential upside of 17.19% from the company’s previous close.
FARM has been the topic of a number of other research reports. BidaskClub lowered shares of Farmer Bros from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 7th. Zacks Investment Research upgraded shares of Farmer Bros from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 10th. ValuEngine upgraded shares of Farmer Bros from a “hold” rating to a “buy” rating in a report on Monday, August 12th. Finally, B. Riley set a $21.00 price target on shares of Farmer Bros and gave the company a “hold” rating in a report on Friday, September 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $12.17.
FARM stock traded up $0.97 during midday trading on Wednesday, hitting $12.80. The stock had a trading volume of 3,565 shares, compared to its average volume of 95,353. The firm has a market cap of $238.56 million, a PE ratio of -11.85, a price-to-earnings-growth ratio of 8.33 and a beta of 0.13. 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 has a 12-month low of $10.26 and a 12-month high of $28.15. The company’s 50-day moving average price is $13.69 and its 200 day moving average price is $18.15.
Farmer Bros (NASDAQ:FARM) last announced its quarterly earnings results on Tuesday, September 10th. The company reported ($0.52) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.37). The company had revenue of $142.05 million during the quarter, compared to analyst estimates of $146.90 million. Farmer Bros had a negative net margin of 12.35% and a negative return on equity of 8.98%. As a group, sell-side analysts anticipate that Farmer Bros will post 0.21 EPS for the current year.
In other Farmer Bros news, major shareholder Levin Easterly Partners Llc bought 2,892 shares of Farmer Bros stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average price of $18.22 per share, for a total transaction of $52,692.24. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders have purchased a total of 111,260 shares of company stock worth $1,878,262 in the last 90 days. Company insiders own 10.90% of the company’s stock.
Hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA lifted its holdings in Farmer Bros by 415.4% in the 1st 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in Farmer Bros by 22.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,772 shares of the company’s stock worth $60,000 after buying an additional 698 shares in the last quarter. Bank of America Corp DE increased its position in shares of Farmer Bros by 39.3% in the 4th quarter. Bank of America Corp DE now owns 7,573 shares of the company’s stock worth $177,000 after purchasing an additional 2,137 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Farmer Bros by 5.5% in the 2nd quarter. Wells Fargo & Company MN now owns 19,632 shares of the company’s stock worth $322,000 after purchasing an additional 1,016 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Farmer Bros by 5.1% in the 2nd quarter. Swiss National Bank now owns 20,500 shares of the company’s stock worth $336,000 after purchasing an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 84.07% 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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