Farmer Bros Co (NASDAQ:FARM) Receives $22.33 Average PT from Analysts

Shares of Farmer Bros Co (NASDAQ:FARM) have been given an average rating of “Hold” by the seven ratings firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $22.33.

FARM has been the topic of several research analyst reports. BidaskClub cut Farmer Bros from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 5th. ValuEngine cut Farmer Bros from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Zacks Investment Research raised Farmer Bros from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 16th. Roth Capital dropped their price target on Farmer Bros from $33.00 to $28.00 and set a “buy” rating on the stock in a research report on Monday, May 6th. Finally, B. Riley cut 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.

In other news, major shareholder Levin Easterly Partners Llc purchased 464,694 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were purchased at an average price of $19.85 per share, with a total value of $9,224,175.90. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 724,424 shares of company stock worth $14,029,384 in the last ninety days. Insiders own 10.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in FARM. Hodges Capital Management Inc. bought a new stake in shares of Farmer Bros in the first quarter worth about $250,000. Deutsche Bank AG increased its stake in shares of Farmer Bros by 38.0% during the fourth quarter. Deutsche Bank AG now owns 37,083 shares of the company’s stock worth $863,000 after acquiring an additional 10,209 shares during the period. Kennedy Capital Management Inc. increased its stake in shares of Farmer Bros by 10.1% during the first quarter. Kennedy Capital Management Inc. now owns 446,082 shares of the company’s stock worth $8,926,000 after acquiring an additional 40,869 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Farmer Bros by 16.9% during the first quarter. Gamco Investors INC. ET AL now owns 103,700 shares of the company’s stock worth $2,075,000 after acquiring an additional 15,000 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Farmer Bros during the fourth quarter worth about $225,000. Institutional investors own 65.40% of the company’s stock.

Farmer Bros stock opened at $16.37 on Wednesday. The business has a 50 day moving average of $18.28. The company has a current ratio of 2.03, a quick ratio of 0.93 and a debt-to-equity ratio of 0.74. Farmer Bros has a one year low of $15.58 and a one year high of $31.50.

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 Zacks’ 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 company had revenue of $146.70 million during the quarter, compared to analyst estimates of $152.03 million. During the same period in the prior year, the firm earned ($0.20) earnings per share. Farmer Bros’s revenue was down 7.1% compared to the same quarter last year. Equities analysts predict that Farmer Bros will post -0.81 earnings per share for the current fiscal year.

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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