Farmer Brothers Company (FARM) Earns Buy Rating from B. Riley

Farmer Brothers Company (NASDAQ:FARM)‘s stock had its “buy” rating reiterated by equities researchers at B. Riley in a research note issued on Wednesday, November 8th. They presently have a $38.50 price objective on the stock. B. Riley’s price objective would suggest a potential upside of 15.44% from the stock’s current price. B. Riley also issued estimates for Farmer Brothers’ Q2 2018 earnings at $0.19 EPS, Q2 2018 earnings at $0.18 EPS, Q3 2018 earnings at $0.28 EPS, Q3 2018 earnings at $0.25 EPS, Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $0.61 EPS, FY2018 earnings at $0.72 EPS, Q2 2019 earnings at $0.27 EPS, Q3 2019 earnings at $0.26 EPS, Q3 2019 earnings at $0.29 EPS, Q4 2019 earnings at $0.28 EPS, Q4 2019 earnings at $0.23 EPS, FY2019 earnings at $1.01 EPS and FY2019 earnings at $0.93 EPS.

Other research analysts also recently issued reports about the company. Zacks Investment Research downgraded Farmer Brothers from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. ValuEngine upgraded Farmer Brothers from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Finally, TheStreet upgraded Farmer Brothers from a “c+” rating to a “b-” rating in a report on Wednesday, November 1st.

Shares of Farmer Brothers (FARM) traded up $0.10 during midday trading on Wednesday, reaching $33.35. The company had a trading volume of 24,160 shares, compared to its average volume of 66,973. Farmer Brothers has a 52-week low of $28.75 and a 52-week high of $37.35. The stock has a market capitalization of $560.04, a price-to-earnings ratio of 65.20 and a beta of 0.44.

Farmer Brothers (NASDAQ:FARM) last announced its earnings results on Tuesday, November 7th. The company reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. Farmer Brothers had a return on equity of 4.13% and a net margin of 4.02%. The business had revenue of $131.70 million during the quarter, compared to the consensus estimate of $131.09 million. During the same period in the prior year, the company posted $0.21 EPS. The business’s quarterly revenue was up .9% on a year-over-year basis. equities analysts anticipate that Farmer Brothers will post 0.72 EPS for the current year.

In other Farmer Brothers news, Director Charles F. Marcy purchased 1,000 shares of the stock in a transaction dated Tuesday, November 21st. The stock was acquired at an average cost of $33.69 per share, for a total transaction of $33,690.00. Following the acquisition, the director now owns 4,577 shares in the company, valued at approximately $154,199.13. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael H. Keown sold 22,000 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $30.96, for a total value of $681,120.00. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 6,000 shares of company stock valued at $192,590. Company insiders own 9.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its stake in Farmer Brothers by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,735 shares of the company’s stock worth $143,000 after acquiring an additional 711 shares in the last quarter. American International Group Inc. lifted its stake in Farmer Brothers by 7.0% during the 1st quarter. American International Group Inc. now owns 4,977 shares of the company’s stock worth $176,000 after acquiring an additional 326 shares in the last quarter. Nationwide Fund Advisors raised its position in Farmer Brothers by 6.9% in the 2nd quarter. Nationwide Fund Advisors now owns 5,825 shares of the company’s stock valued at $176,000 after purchasing an additional 378 shares in the last quarter. Citigroup Inc. raised its position in Farmer Brothers by 2,043.6% in the 2nd quarter. Citigroup Inc. now owns 6,238 shares of the company’s stock valued at $189,000 after purchasing an additional 5,947 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Farmer Brothers by 22.9% in the 2nd quarter. Alliancebernstein L.P. now owns 7,517 shares of the company’s stock valued at $227,000 after purchasing an additional 1,400 shares in the last quarter. 53.54% of the stock is currently owned by hedge funds and other institutional investors.

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About Farmer Brothers

Farmer Bros. Co is a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products. The Company offers private brand and consumer-branded coffee products to small independent restaurants and foodservice operators, and institutional buyers. Its product line includes organic, Direct Trade, Direct Trade Verified Sustainable (DTVS) coffees and other coffees, iced and hot teas, cappuccino, spices, and baking/biscuit mixes.

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