Farmer Bros (FARM) Downgraded by ValuEngine to Sell

Farmer Bros (NASDAQ:FARM) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Wednesday, May 8th, ValuEngine reports.

A number of other equities research analysts have also issued reports on FARM. Roth Capital restated a “neutral” rating and issued a $20.00 price target (down from $28.00) on shares of Farmer Bros in a research report on Wednesday, May 8th. B. Riley lowered Farmer Bros from a “buy” rating to a “neutral” rating and dropped their price target for the company from $29.00 to $21.00 in a research report on Wednesday, May 8th. Lake Street Capital decreased their price objective on Farmer Bros from $36.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, May 8th. BidaskClub cut Farmer Bros from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 5th. Finally, Zacks Investment Research cut Farmer Bros from a “hold” rating to a “strong sell” rating in a report on Thursday, February 14th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.33.

NASDAQ:FARM traded down $0.17 during trading hours on Wednesday, hitting $18.49. 5,125 shares of the stock were exchanged, compared to its average volume of 188,050. Farmer Bros has a 52-week low of $16.92 and a 52-week high of $31.50. The company has a current ratio of 2.03, a quick ratio of 0.93 and a debt-to-equity ratio of 0.74. The firm has a market cap of $318.82 million, a P/E ratio of 142.23 and a beta of 0.15.

Farmer Bros (NASDAQ:FARM) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($3.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($3.11). Farmer Bros had a negative return on equity of 3.34% and a negative net margin of 10.72%. The firm had revenue of $146.70 million for the quarter, compared to analysts’ expectations of $152.03 million. During the same quarter last year, the firm posted ($0.20) earnings per share. Farmer Bros’s quarterly revenue was down 7.1% on a year-over-year basis. On average, research analysts forecast that Farmer Bros will post -0.81 earnings per share for the current year.

In other Farmer Bros news, major shareholder Levin Easterly Partners Llc acquired 97,879 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were purchased at an average cost 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 724,157 shares of company stock worth $14,024,525 over the last quarter. 10.90% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its position in shares of Farmer Bros by 415.4% during the first quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the company’s stock worth $42,000 after acquiring an additional 1,695 shares during the period. Legal & General Group Plc increased its position in shares of Farmer Bros by 44.3% during the fourth quarter. Legal & General Group Plc now owns 2,365 shares of the company’s stock worth $55,000 after acquiring an additional 726 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of Farmer Bros by 389.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 3,145 shares of the company’s stock worth $73,000 after acquiring an additional 2,502 shares during the period. MetLife Investment Advisors LLC increased its position in shares of Farmer Bros by 63.1% during the third quarter. MetLife Investment Advisors LLC now owns 6,469 shares of the company’s stock worth $171,000 after acquiring an additional 2,502 shares during the period. Finally, Bank of America Corp DE increased its position in shares of Farmer Bros by 39.3% during the fourth quarter. Bank of America Corp DE now owns 7,573 shares of the company’s stock worth $177,000 after acquiring an additional 2,137 shares during the period. Institutional investors own 65.40% of the company’s stock.

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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