Farmer Bros (NASDAQ:FARM) had its price target lowered by equities researchers at B. Riley from $21.00 to $10.50 in a note issued to investors on Wednesday, BenzingaRatingsTable reports. The brokerage presently has a “neutral” rating on the stock. B. Riley’s target price indicates a potential downside of 10.52% from the company’s current price.
FARM has been the subject of a number of other research reports. Lake Street Capital lowered their price objective on shares of Farmer Bros from $26.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday. ValuEngine upgraded shares of Farmer Bros from a “hold” rating to a “buy” rating in a report on Monday, August 12th. Zacks Investment Research raised Farmer Bros from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, BidaskClub cut Farmer Bros from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 7th. One 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 stock has a consensus rating of “Hold” and an average target price of $15.17.
NASDAQ FARM traded down $2.27 during trading hours on Wednesday, reaching $11.73. The company had a trading volume of 227,825 shares, compared to its average volume of 87,955. 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 stock has a market capitalization of $224.25 million, a P/E ratio of 90.27, a price-to-earnings-growth ratio of 7.83 and a beta of 0.13. The stock has a 50-day moving average of $13.80 and a 200 day moving average of $18.22. Farmer Bros has a 1-year low of $10.65 and a 1-year high of $29.50.
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 analysts’ consensus estimates of ($0.15) by ($0.37). The company had revenue of $142.05 million for the quarter, compared to analyst estimates of $146.90 million. Farmer Bros had a negative net margin of 10.72% and a negative return on equity of 3.34%. As a group, sell-side analysts predict that Farmer Bros will post -0.88 EPS for the current year.
In other news, major shareholder Levin Easterly Partners Llc bought 3,002 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $12.65 per share, with a total value of $37,975.30. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders have purchased a total of 111,260 shares of company stock valued at $1,878,262 over the last 90 days. 10.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in FARM. BNP Paribas Arbitrage SA boosted its position in 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 buying an additional 1,695 shares during the period. JPMorgan Chase & Co. increased its position in shares of Farmer Bros by 22.7% during the second quarter. JPMorgan Chase & Co. now owns 3,772 shares of the company’s stock worth $60,000 after acquiring an additional 698 shares during the period. Bank of America Corp DE raised its stake in shares of Farmer Bros by 39.3% in the fourth quarter. Bank of America Corp DE now owns 7,573 shares of the company’s stock valued at $177,000 after acquiring an additional 2,137 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Farmer Bros by 5.5% in the second quarter. Wells Fargo & Company MN now owns 19,632 shares of the company’s stock valued at $322,000 after acquiring an additional 1,016 shares in the last quarter. Finally, Swiss National Bank boosted its holdings in Farmer Bros by 5.1% in the second quarter. Swiss National Bank now owns 20,500 shares of the company’s stock valued at $336,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 84.07% 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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