Farmer Bros (NASDAQ:FARM) Upgraded to Hold by Zacks Investment Research

Farmer Bros (NASDAQ:FARM) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Friday, Zacks.com reports.

According to Zacks, “Farmer Bros. Co. is in the business of roasting, packaging and distributing coffee and allied products to restaurants, hotels, hospitals, convenience stores and fast food outlets. The company’s primary raw material is green coffee. Green coffee is purchased through domestic commodity brokers. Coffee is an agricultural commodity, and is subject to fluctuations of both price and supply. “

Other research analysts also recently issued research reports about the company. BidaskClub downgraded Farmer Bros from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 7th. ValuEngine upgraded Farmer Bros from a “buy” rating to a “strong-buy” rating in a report on Friday. Lake Street Capital reduced their price target on Farmer Bros from $26.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. B. Riley reduced their price target on Farmer Bros from $21.00 to $10.50 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, Roth Capital reduced their price target on Farmer Bros from $20.00 to $11.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $12.17.

NASDAQ:FARM traded up $3.30 during trading hours on Friday, hitting $16.29. 311,800 shares of the company’s stock traded hands, compared to its average volume of 107,329. Farmer Bros has a 52 week low of $10.26 and a 52 week high of $26.25. The company has a quick ratio of 0.75, a current ratio of 1.66 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $13.65 and its two-hundred day simple moving average is $15.80. The firm has a market cap of $235.45 million, a P/E ratio of -15.08 and a beta of 0.22.

Farmer Bros (NASDAQ:FARM) last released its 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). Farmer Bros had a negative net margin of 12.35% and a negative return on equity of 9.51%. The company had revenue of $142.05 million during the quarter, compared to the consensus estimate of $146.90 million. On average, analysts expect that Farmer Bros will post -0.53 EPS for the current year.

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In other news, Director Randy E. Clark bought 3,000 shares of Farmer Bros stock in a transaction on Monday, September 16th. The shares were purchased at an average price of $14.11 per share, for a total transaction of $42,330.00. Following the acquisition, the director now owns 21,928 shares of the company’s stock, valued at $309,404.08. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Levin Easterly Partners Llc bought 3,002 shares of Farmer Bros stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $12.65 per share, for a total transaction of $37,975.30. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. grew its holdings in shares of Farmer Bros by 5.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,933,187 shares of the company’s stock worth $37,984,000 after acquiring an additional 159,990 shares during the period. Trigran Investments Inc. grew its holdings in shares of Farmer Bros by 12.8% during the 2nd quarter. Trigran Investments Inc. now owns 1,972,319 shares of the company’s stock worth $32,286,000 after acquiring an additional 223,041 shares during the period. BlackRock Inc. grew its holdings in shares of Farmer Bros by 10.4% during the 2nd quarter. BlackRock Inc. now owns 771,123 shares of the company’s stock worth $12,623,000 after acquiring an additional 72,842 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Farmer Bros by 13.9% during the 2nd quarter. Renaissance Technologies LLC now owns 469,400 shares of the company’s stock worth $7,684,000 after acquiring an additional 57,200 shares during the period. Finally, Boston Partners purchased a new position in shares of Farmer Bros during the 2nd quarter worth approximately $6,641,000. Hedge funds and other institutional investors own 82.49% 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.

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