Farmer Bros (NASDAQ:FARM) Lowered to “Strong Sell” at BidaskClub

Farmer Bros (NASDAQ:FARM) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday, January 18th.

Several other research analysts also recently commented on FARM. B. Riley reissued a “buy” rating and issued a $38.50 price objective (up from $37.25) on shares of Farmer Bros in a research note on Friday, September 29th. Zacks Investment Research downgraded Farmer Bros from a “hold” rating to a “sell” rating in a research note on Wednesday, October 4th. Finally, TheStreet raised Farmer Bros from a “c+” rating to a “b-” rating in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $37.25.

Farmer Bros (NASDAQ FARM) traded up $0.25 during trading on Thursday, reaching $30.25. The company’s stock had a trading volume of 51,355 shares, compared to its average volume of 56,865. Farmer Bros has a 1-year low of $28.75 and a 1-year high of $37.35. The stock has a market cap of $511.21, a price-to-earnings ratio of -29.37 and a beta of 0.51.

Farmer Bros (NASDAQ:FARM) last released its quarterly earnings data on Tuesday, February 6th. The company reported ($1.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($1.27). The company had revenue of $167.37 million during the quarter, compared to analysts’ expectations of $161.62 million. Farmer Bros had a negative return on equity of 5.67% and a negative net margin of 2.98%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 EPS. equities analysts expect that Farmer Bros will post -0.62 earnings per share for the current year.

In other Farmer Bros news, Director Charles F. Marcy bought 1,000 shares of the business’s stock in a transaction dated Tuesday, November 21st. The shares were acquired at an average price of $33.69 per share, with a total value of $33,690.00. Following the transaction, the director now owns 4,577 shares of the company’s stock, valued at $154,199.13. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeanne Farmer Grossman sold 10,760 shares of Farmer Bros stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $33.84, for a total value of $364,118.40. Following the transaction, the director now directly owns 16,973 shares in the company, valued at approximately $574,366.32. The disclosure for this sale can be found here. Insiders sold a total of 18,764 shares of company stock worth $637,909 in the last ninety days. 9.30% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FARM. Victory Capital Management Inc. grew its stake in shares of Farmer Bros by 17.7% in the 2nd quarter. Victory Capital Management Inc. now owns 4,735 shares of the company’s stock valued at $143,000 after purchasing an additional 711 shares during the last quarter. Nationwide Fund Advisors grew its stake in shares of Farmer Bros 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 during the last quarter. Citigroup Inc. grew its stake in shares of Farmer Bros 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 during the last quarter. Alliancebernstein L.P. grew its stake in shares of Farmer Bros 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 during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Farmer Bros by 12.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,492 shares of the company’s stock valued at $227,000 after purchasing an additional 829 shares during the last quarter. 54.68% of the stock is currently owned by institutional investors.

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Farmer Bros Company Profile

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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