Farmer Bros (NASDAQ:FARM) Rating Lowered to Strong Sell at BidaskClub

BidaskClub cut shares of Farmer Bros (NASDAQ:FARM) from a sell rating to a strong sell rating in a research report sent to investors on Wednesday morning, BidAskClub reports.

Several other analysts also recently weighed in on the company. ValuEngine raised Farmer Bros from a sell rating to a hold rating in a report on Thursday, August 1st. B. Riley downgraded Farmer Bros from a buy rating to a neutral rating and reduced their target price for the company from $29.00 to $21.00 in a report on Wednesday, May 8th. Roth Capital reissued a neutral rating and issued a $20.00 target price (down from $28.00) on shares of Farmer Bros in a report on Wednesday, May 8th. Lake Street Capital reduced their target price on Farmer Bros from $36.00 to $26.00 and set a buy rating for the company in a report on Wednesday, May 8th. Finally, TheStreet downgraded Farmer Bros from a c rating to a d+ rating 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 issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $22.33.

Shares of Farmer Bros stock traded down $0.17 on Wednesday, hitting $14.48. The stock had a trading volume of 70,628 shares, compared to its average volume of 92,870. Farmer Bros has a 52-week low of $13.74 and a 52-week high of $30.20. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.93 and a current ratio of 2.03. The business has a 50 day moving average price of $16.43.

In related news, major shareholder Levin Easterly Partners Llc acquired 94,497 shares of Farmer Bros stock in a transaction on Wednesday, June 19th. The stock was purchased at an average cost of $17.02 per share, with a total value of $1,608,338.94. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have acquired 131,111 shares of company stock valued at $2,269,691. 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 raised its stake in Farmer Bros by 415.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the company’s stock valued at $42,000 after acquiring an additional 1,695 shares during the last quarter. Legal & General Group Plc increased its position in Farmer Bros by 44.3% during the 4th quarter. Legal & General Group Plc now owns 2,365 shares of the company’s stock worth $55,000 after purchasing an additional 726 shares during the period. Metropolitan Life Insurance Co. NY increased its position in Farmer Bros by 389.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,145 shares of the company’s stock worth $73,000 after purchasing an additional 2,502 shares during the period. JPMorgan Chase & Co. increased its position in Farmer Bros by 22.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,772 shares of the company’s stock worth $60,000 after purchasing an additional 698 shares during the period. Finally, Bank of America Corp DE increased its position in 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. 65.10% of the stock is owned by hedge funds and other institutional investors.

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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