Farmer Bros (FARM) Cut to “Strong Sell” at BidaskClub

BidaskClub lowered shares of Farmer Bros (NASDAQ:FARM) from a sell rating to a strong sell rating in a research report report published on Tuesday morning.

A number of other research analysts have also recently commented on FARM. Zacks Investment Research upgraded shares of Farmer Bros from a strong sell rating to a hold rating in a report on Tuesday, July 10th. ValuEngine cut shares of Farmer Bros from a buy rating to a hold rating in a report on Monday, July 16th. Finally, B. Riley cut their price target on shares of Farmer Bros from $34.00 to $32.00 and set a buy rating on the stock in a report on Thursday, September 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $33.75.

Shares of FARM traded up $0.24 during midday trading on Tuesday, hitting $25.06. The stock had a trading volume of 859 shares, compared to its average volume of 59,241. Farmer Bros has a 1 year low of $23.02 and a 1 year high of $35.05. The company has a market cap of $404.92 million, a P/E ratio of 192.85, a P/E/G ratio of 9.46 and a beta of 0.22.

Farmer Bros (NASDAQ:FARM) last posted its quarterly earnings results on Wednesday, November 7th. The company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.09). The company had revenue of $147.44 million during the quarter, compared to the consensus estimate of $146.39 million. Farmer Bros had a positive return on equity of 1.04% and a negative net margin of 3.88%. The company’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 earnings per share. As a group, sell-side analysts forecast that Farmer Bros will post 0.32 EPS for the current year.

In other news, CEO Michael H. Keown sold 23,333 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $28.03, for a total value of $654,023.99. Following the transaction, the chief executive officer now directly owns 68,405 shares in the company, valued at $1,917,392.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 10.90% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Swiss National Bank grew its holdings in Farmer Bros by 24.4% during the 2nd quarter. Swiss National Bank now owns 20,900 shares of the company’s stock worth $638,000 after acquiring an additional 4,100 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Farmer Bros by 1,712.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 494,139 shares of the company’s stock worth $15,109,000 after acquiring an additional 466,876 shares in the last quarter. Royce & Associates LP grew its holdings in Farmer Bros by 13.8% during the 2nd quarter. Royce & Associates LP now owns 474,906 shares of the company’s stock worth $14,508,000 after acquiring an additional 57,500 shares in the last quarter. Levin Capital Strategies L.P. grew its holdings in Farmer Bros by 441.9% during the 2nd quarter. Levin Capital Strategies L.P. now owns 1,076,908 shares of the company’s stock worth $32,900,000 after acquiring an additional 878,187 shares in the last quarter. Finally, North Star Investment Management Corp. grew its holdings in Farmer Bros by 13.2% during the 3rd quarter. North Star Investment Management Corp. now owns 77,150 shares of the company’s stock worth $2,037,000 after acquiring an additional 9,000 shares in the last quarter. Institutional investors own 59.35% 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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