Farmer Bros. (NASDAQ:FARM) PT Lowered to $4.50 at Roth Mkm

Farmer Bros. (NASDAQ:FARM) had its target price cut by stock analysts at Roth Mkm from $6.00 to $4.50 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s price objective would indicate a potential upside of 104.55% from the stock’s previous close.

Several other equities analysts also recently weighed in on FARM. Craig Hallum began coverage on Farmer Bros. in a report on Monday, June 17th. They set a “buy” rating and a $6.00 price target for the company. StockNews.com cut Farmer Bros. from a “buy” rating to a “hold” rating in a report on Monday.

Farmer Bros. Price Performance

FARM opened at $2.20 on Wednesday. The stock has a fifty day simple moving average of $2.67 and a two-hundred day simple moving average of $2.96. The company has a current ratio of 1.42, a quick ratio of 0.65 and a debt-to-equity ratio of 0.54. The company has a market cap of $46.78 million, a price-to-earnings ratio of -0.96 and a beta of 1.79. Farmer Bros. has a 12-month low of $2.10 and a 12-month high of $4.04.

Farmer Bros. (NASDAQ:FARM) last posted its quarterly earnings data on Thursday, September 12th. The company reported ($0.22) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.22). The business had revenue of $84.40 million during the quarter, compared to the consensus estimate of $81.30 million. Farmer Bros. had a negative return on equity of 58.82% and a negative net margin of 13.46%. During the same quarter in the prior year, the company earned ($0.84) earnings per share. Research analysts predict that Farmer Bros. will post -0.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Farmer Bros.

Several hedge funds have recently made changes to their positions in the company. Sanders Morris Harris LLC purchased a new stake in shares of Farmer Bros. during the 1st quarter worth $250,000. Dimensional Fund Advisors LP increased its position in Farmer Bros. by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 367,919 shares of the company’s stock valued at $986,000 after buying an additional 17,327 shares in the last quarter. Renaissance Technologies LLC increased its position in Farmer Bros. by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 559,500 shares of the company’s stock valued at $1,499,000 after buying an additional 7,600 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Farmer Bros. by 8.6% in the first quarter. Vanguard Group Inc. now owns 824,528 shares of the company’s stock valued at $2,944,000 after purchasing an additional 65,277 shares during the period. 64.48% of the stock is currently owned by hedge funds and other institutional investors.

Farmer Bros. Company Profile

Farmer Bros. Co engages in the roasting, wholesale, equipment servicing, and distribution of coffee, tea, and other allied products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavoured and unflavoured iced and hot teas; culinary products, including spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, and syrups and sauces, as well as coffee filters, cups, sugar, and creamers; and other beverages comprising cappuccino, cocoa, granitas, and other blender-based beverages and concentrated and ready-to-drink cold brew and iced coffee.