Farmer Brothers (FARM) Raised to “Sell” at BidaskClub

BidaskClub upgraded shares of Farmer Brothers (NASDAQ:FARM) from a strong sell rating to a sell rating in a research report report published on Friday.

Other research analysts have also issued research reports about the company. Zacks Investment Research raised Farmer Brothers from a hold rating to a buy rating and set a $31.00 price target on the stock in a research note on Wednesday, May 9th. B. Riley reduced their price target on Farmer Brothers from $38.50 to $34.00 and set a buy rating on the stock in a research note on Wednesday, May 9th. Lake Street Capital reissued a buy rating and set a $36.00 price target (down previously from $40.00) on shares of Farmer Brothers in a research note on Wednesday, May 9th. Roth Capital reduced their price target on Farmer Brothers from $41.00 to $36.00 and set a buy rating on the stock in a research note on Wednesday, May 9th. Finally, TheStreet lowered Farmer Brothers from a b- rating to a c rating in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Farmer Brothers has an average rating of Hold and a consensus target price of $34.25.

Shares of NASDAQ:FARM opened at $26.80 on Friday. The firm has a market cap of $453.67 million, a price-to-earnings ratio of 157.65 and a beta of 0.48. Farmer Brothers has a one year low of $23.60 and a one year high of $35.05.

Farmer Brothers (NASDAQ:FARM) last announced its earnings results on Tuesday, May 8th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.40). Farmer Brothers had a negative net margin of 3.82% and a positive return on equity of 1.41%. The company had revenue of $157.93 million for the quarter, compared to analyst estimates of $161.46 million. During the same quarter last year, the company posted $0.17 EPS. Farmer Brothers’s quarterly revenue was up 14.3% compared to the same quarter last year. equities research analysts forecast that Farmer Brothers will post -1.18 earnings per share for the current year.

In other Farmer Brothers news, Director Jeanne Farmer Grossman sold 20,000 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $31.80, for a total transaction of $636,000.00. Following the transaction, the director now owns 18,874 shares of the company’s stock, valued at approximately $600,193.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 9.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. MetLife Investment Advisors LLC purchased a new position in shares of Farmer Brothers in the 4th quarter worth $128,000. JPMorgan Chase & Co. raised its position in shares of Farmer Brothers by 171.3% in the 1st quarter. JPMorgan Chase & Co. now owns 6,269 shares of the company’s stock worth $189,000 after buying an additional 3,958 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in shares of Farmer Brothers in the 1st quarter worth $201,000. Barclays PLC raised its position in shares of Farmer Brothers by 27.7% in the 1st quarter. Barclays PLC now owns 11,044 shares of the company’s stock worth $335,000 after buying an additional 2,393 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Farmer Brothers by 48.5% in the 3rd quarter. Wells Fargo & Company MN now owns 13,670 shares of the company’s stock worth $449,000 after buying an additional 4,466 shares during the period. 57.76% of the stock is currently owned by institutional investors and hedge funds.

About Farmer Brothers

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 iced coffee.

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