Farmer Bros. (NASDAQ:FARM) Rating Lowered to Hold at StockNews.com

Farmer Bros. (NASDAQ:FARM) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

Separately, Craig Hallum initiated coverage on shares of Farmer Bros. in a research note on Monday, June 17th. They issued a “buy” rating and a $6.00 price target on the stock.

Farmer Bros. Stock Down 5.2 %

Shares of FARM stock traded down $0.12 on Monday, reaching $2.19. 163,290 shares of the stock were exchanged, compared to its average volume of 65,449. The company has a market capitalization of $46.57 million, a price-to-earnings ratio of -0.96 and a beta of 1.79. The business’s 50 day moving average price is $2.68 and its 200 day moving average price is $2.97. The company has a current ratio of 1.42, a quick ratio of 0.65 and a debt-to-equity ratio of 0.54. Farmer Bros. has a twelve month low of $2.15 and a twelve month high of $4.04.

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

Institutional Trading of Farmer Bros.

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