Farmer Bros (NASDAQ:FARM) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Farmer Bros (NASDAQ:FARM) from a sell rating to a hold rating in a research note issued to investors on Thursday, ValuEngine reports.

FARM has been the subject of several other research reports. Roth Capital reissued a neutral rating and issued a $20.00 target price (down previously from $28.00) on shares of Farmer Bros in a research note on Wednesday, May 8th. TheStreet downgraded shares of Farmer Bros from a c rating to a d+ rating in a research note on Wednesday, May 8th. B. Riley downgraded shares of Farmer Bros from a buy rating to a neutral rating and cut their target price for the company from $29.00 to $21.00 in a research note on Wednesday, May 8th. Zacks Investment Research raised shares of Farmer Bros from a strong sell rating to a hold rating in a research note on Wednesday, July 10th. Finally, Lake Street Capital lowered their price target on Farmer Bros from $36.00 to $26.00 and set a buy rating for the company in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. Farmer Bros currently has an average rating of Hold and an average target price of $22.33.

FARM stock traded down $0.65 during trading on Thursday, hitting $14.36. The stock had a trading volume of 7,073 shares, compared to its average volume of 81,810. The company has a 50 day moving average price of $16.91. Farmer Bros has a 1-year low of $14.50 and a 1-year high of $30.20. The company has a market capitalization of $255.77 million, a PE ratio of 112.23, a price-to-earnings-growth ratio of 8.93 and a beta of 0.11. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.93 and a current ratio of 2.03.

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

In other Farmer Bros news, major shareholder Levin Easterly Partners Llc purchased 21,684 shares of the stock in a transaction on Tuesday, May 21st. The stock was bought at an average price of $18.81 per share, for a total transaction of $407,876.04. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders acquired a total of 261,090 shares of company stock valued at $4,535,225 in the last 90 days. 10.90% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its holdings 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. Legal & General Group Plc grew its holdings in Farmer Bros by 44.3% in the 4th quarter. Legal & General Group Plc now owns 2,365 shares of the company’s stock valued at $55,000 after buying an additional 726 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in Farmer Bros by 389.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,145 shares of the company’s stock valued at $73,000 after buying an additional 2,502 shares during the period. Bank of America Corp DE grew its holdings in shares of 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 purchasing an additional 2,137 shares during the period. Finally, Millennium Management LLC purchased a new stake in shares of Farmer Bros during the 4th quarter worth about $225,000. Institutional investors own 65.10% 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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