Farmer Bros (FARM) Given New $26.00 Price Target at Lake Street Capital

Farmer Bros (NASDAQ:FARM) had its target price trimmed by Lake Street Capital from $36.00 to $26.00 in a research report sent to investors on Wednesday, May 8th, The Fly reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently weighed in on the company. Roth Capital decreased their target price 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. BidaskClub lowered Farmer Bros from a sell rating to a strong sell rating in a research note on Tuesday, March 5th. ValuEngine lowered Farmer Bros from a buy rating to a hold rating in a research note on Tuesday, January 15th. B. Riley lowered Farmer Bros from a buy rating to a neutral rating and cut their price target for the company from $29.00 to $21.00 in a research note on Wednesday, May 8th. Finally, Zacks Investment Research lowered Farmer Bros from a hold rating to a strong sell rating in a research note on Thursday, February 14th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $22.33.

Shares of FARM opened at $18.32 on Wednesday. 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 company has a market cap of $318.82 million, a price-to-earnings ratio of 140.92 and a beta of 0.15. Farmer Bros has a 1 year low of $16.92 and a 1 year high of $31.50.

Farmer Bros (NASDAQ:FARM) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($3.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($3.11). The company had revenue of $146.70 million during the quarter, compared to the consensus estimate of $152.03 million. Farmer Bros had a negative return on equity of 3.34% and a negative net margin of 10.72%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.20) earnings per share. Analysts forecast that Farmer Bros will post -0.81 earnings per share for the current fiscal year.

In other Farmer Bros news, major shareholder Levin Easterly Partners Llc purchased 97,879 shares of the stock in a transaction on Monday, April 15th. The stock was acquired at an average price of $19.73 per share, with a total value of $1,931,152.67. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders acquired 724,157 shares of company stock valued at $14,024,525. Corporate insiders own 10.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FARM. Trigran Investments Inc. increased its position in shares of Farmer Bros by 1.1% during the first quarter. Trigran Investments Inc. now owns 1,749,278 shares of the company’s stock worth $35,003,000 after purchasing an additional 19,593 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Farmer Bros by 3.3% during the first quarter. Dimensional Fund Advisors LP now owns 959,742 shares of the company’s stock worth $19,204,000 after purchasing an additional 30,355 shares in the last quarter. BlackRock Inc. increased its position in shares of Farmer Bros by 6.1% during the fourth quarter. BlackRock Inc. now owns 709,790 shares of the company’s stock worth $16,558,000 after purchasing an additional 40,612 shares in the last quarter. Vanguard Group Inc increased its position in shares of Farmer Bros by 3.7% during the third quarter. Vanguard Group Inc now owns 580,677 shares of the company’s stock worth $15,330,000 after purchasing an additional 20,649 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Farmer Bros by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 580,677 shares of the company’s stock valued at $15,330,000 after buying an additional 20,649 shares in the last quarter. 65.40% of the stock is owned by hedge funds and other institutional investors.

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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