Farmer Bros Co (FARM) Given Average Recommendation of “Hold” by Analysts

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Shares of Farmer Bros Co (NASDAQ:FARM) have been assigned a consensus recommendation of “Hold” from the seven ratings firms that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $34.67.

A number of research firms have commented on FARM. ValuEngine upgraded shares of Farmer Bros from a “hold” rating to a “buy” rating in a report on Thursday, July 5th. BidaskClub upgraded shares of Farmer Bros from a “hold” rating to a “buy” rating in a report on Thursday, June 28th. Zacks Investment Research upgraded shares of Farmer Bros from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 10th. Finally, B. Riley reduced their price target on shares of Farmer Bros from $34.00 to $32.00 and set a “buy” rating for the company in a report on Thursday, September 27th.

In other Farmer Bros news, CEO Michael H. Keown sold 23,333 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $28.03, for a total value of $654,023.99. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.30% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in FARM. JPMorgan Chase & Co. lifted its stake in shares of Farmer Bros by 171.3% in the first quarter. JPMorgan Chase & Co. now owns 6,269 shares of the company’s stock valued at $189,000 after buying an additional 3,958 shares in the last quarter. Suntrust Banks Inc. bought a new position in shares of Farmer Bros in the first quarter valued at $259,000. Barclays PLC lifted its stake in shares of Farmer Bros by 27.7% in the first quarter. Barclays PLC now owns 11,044 shares of the company’s stock valued at $335,000 after buying an additional 2,393 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Farmer Bros by 18.2% in the second quarter. First Trust Advisors LP now owns 12,087 shares of the company’s stock valued at $369,000 after buying an additional 1,860 shares in the last quarter. Finally, Swiss National Bank lifted its stake in shares of Farmer Bros by 24.4% in the second quarter. Swiss National Bank now owns 20,900 shares of the company’s stock valued at $638,000 after buying an additional 4,100 shares in the last quarter. 60.31% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FARM traded down $0.38 during trading hours on Friday, hitting $24.43. 31,200 shares of the stock were exchanged, compared to its average volume of 64,121. Farmer Bros has a fifty-two week low of $23.60 and a fifty-two week high of $35.05. The stock has a market cap of $417.08 million, a PE ratio of 189.42, a price-to-earnings-growth ratio of 9.76 and a beta of 0.22.

Farmer Bros (NASDAQ:FARM) last posted its quarterly earnings results on Tuesday, September 11th. The company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. The business had revenue of $149.54 million during the quarter, compared to analysts’ expectations of $153.37 million. Farmer Bros had a negative net margin of 3.88% and a positive return on equity of 1.04%. On average, equities research analysts anticipate that Farmer Bros will post 0.32 EPS for the current fiscal year.

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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