Farmer Bros (NASDAQ:FARM) Lowered to Sell at Zacks Investment Research

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Farmer Bros (NASDAQ:FARM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued 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 analysts have also issued research reports about the company. ValuEngine raised Farmer Bros from a “hold” rating to a “buy” rating in a research report on Monday, August 12th. BidaskClub lowered Farmer Bros from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 7th. B. Riley cut their price objective on Farmer Bros from $21.00 to $10.50 and set a “neutral” rating on the stock in a research report on Wednesday. Roth Capital cut their price objective on Farmer Bros from $20.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Lake Street Capital cut their price objective on Farmer Bros from $26.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.17.

Shares of Farmer Bros stock traded up $1.30 during trading hours on Friday, reaching $13.13. 168,791 shares of the company were exchanged, compared to its average volume of 104,738. Farmer Bros has a 1 year low of $10.26 and a 1 year high of $28.15. The stock’s fifty day moving average is $13.62 and its 200 day moving average is $18.10. 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 firm has a market cap of $238.56 million, a PE ratio of -12.16, a PEG ratio of 8.33 and a beta of 0.13.

Farmer Bros (NASDAQ:FARM) last posted its quarterly earnings data 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 return on equity of 8.98% and a negative net margin of 12.35%. The company had revenue of $142.05 million for the quarter, compared to analysts’ expectations of $146.90 million. Research analysts expect that Farmer Bros will post 0.21 earnings per share for the current year.

In other news, major shareholder Levin Easterly Partners Llc bought 3,002 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $12.65 per share, for a total transaction of $37,975.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have purchased 111,260 shares of company stock valued at $1,878,262. Insiders own 10.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FARM. Russell Investments Group Ltd. boosted its stake in Farmer Bros by 123.2% in the second quarter. Russell Investments Group Ltd. now owns 2,773,197 shares of the company’s stock valued at $45,393,000 after acquiring an additional 1,530,752 shares in the last quarter. Boston Partners acquired a new stake in shares of Farmer Bros during the second quarter worth about $6,641,000. Trigran Investments Inc. boosted its stake in shares of Farmer Bros by 12.8% during the second quarter. Trigran Investments Inc. now owns 1,972,319 shares of the company’s stock worth $32,286,000 after buying an additional 223,041 shares during the period. Granite Investment Partners LLC boosted its stake in shares of Farmer Bros by 21.6% during the first quarter. Granite Investment Partners LLC now owns 507,599 shares of the company’s stock worth $10,157,000 after buying an additional 90,019 shares during the period. Finally, Teton Advisors Inc. boosted its stake in shares of Farmer Bros by 25.3% during the second quarter. Teton Advisors Inc. now owns 366,021 shares of the company’s stock worth $5,992,000 after buying an additional 73,987 shares during the period. Institutional investors own 84.07% 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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