Farmer Bros (FARM) Downgraded by B. Riley

B. Riley downgraded shares of Farmer Bros (NASDAQ:FARM) from a buy rating to a neutral rating in a research report report published on Wednesday, May 8th, BenzingaRatingsTable reports. They currently have $21.00 target price on the stock, down from their previous target price of $29.00. B. Riley also issued estimates for Farmer Bros’ Q3 2019 earnings at $0.03 EPS, Q4 2019 earnings at $0.13 EPS, Q4 2019 earnings at ($0.16) EPS, FY2019 earnings at ($0.14) EPS, FY2019 earnings at ($0.74) EPS, FY2020 earnings at $0.21 EPS and FY2020 earnings at $0.67 EPS.

A number of other analysts have also recently commented on FARM. ValuEngine cut Farmer Bros from a buy rating to a hold rating in a research report on Tuesday, January 15th. BidaskClub cut Farmer Bros from a hold rating to a sell rating in a research report on Monday, February 4th. Zacks Investment Research cut Farmer Bros from a hold rating to a strong sell rating in a research report on Thursday, February 14th. Finally, Roth Capital cut their price objective on Farmer Bros from $33.00 to $28.00 and set a buy rating for the company in a research report on Monday, May 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Farmer Bros has a consensus rating of Hold and an average target price of $22.33.

Shares of NASDAQ:FARM opened at $18.32 on Wednesday. Farmer Bros has a 12-month low of $16.92 and a 12-month high of $31.50. The company has a market capitalization of $318.82 million, a price-to-earnings ratio of 140.92 and a beta of 0.15. 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 announced its quarterly earnings results on Tuesday, May 7th. The company reported ($3.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($3.11). The company 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%. The company’s revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.20) earnings per share. On average, sell-side analysts anticipate that Farmer Bros will post -0.81 EPS for the current year.

In other news, major shareholder Levin Easterly Partners Llc purchased 97,879 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 724,157 shares of company stock valued at $14,024,525 over the last quarter. 10.90% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA increased its holdings in shares of Farmer Bros by 415.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the company’s stock valued at $42,000 after acquiring an additional 1,695 shares during the last quarter. Legal & General Group Plc grew its stake in Farmer Bros by 44.3% during the 4th 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 grew its stake in Farmer Bros by 389.1% during the 4th 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 grew its stake in Farmer Bros by 63.1% during the 3rd 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 grew its stake in Farmer Bros by 39.3% during the 4th 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 65.40% 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.

Read More: What are the most popular ETFs

Receive News & Ratings for Farmer Bros Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Farmer Bros and related companies with MarketBeat.com's FREE daily email newsletter.