Farmer Brothers Co. (NASDAQ:FARM) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus price target of $38.50 for the company and are expecting that the company will post $0.18 EPS for the current quarter, according to Zacks. Zacks has also given Farmer Brothers an industry rank of 55 out of 265 based on the ratings given to related companies.
A number of research firms have issued reports on FARM. BidaskClub cut Farmer Brothers from a “sell” rating to a “strong sell” rating in a research note on Friday, December 29th. B. Riley reiterated a “buy” rating and issued a $38.50 target price on shares of Farmer Brothers in a research note on Wednesday, November 8th. Zacks Investment Research upgraded Farmer Brothers from a “sell” rating to a “hold” rating and set a $35.00 target price on the stock in a research note on Monday, November 6th. Finally, TheStreet upgraded Farmer Brothers from a “c+” rating to a “b-” rating in a research note on Wednesday, November 1st.
In related news, Director Jeanne Farmer Grossman sold 1,358 shares of Farmer Brothers stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $34.21, for a total transaction of $46,457.18. Following the sale, the director now directly owns 16,973 shares in the company, valued at $580,646.33. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles F. Marcy acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were bought at an average price of $33.69 per share, for a total transaction of $33,690.00. Following the completion of the purchase, the director now owns 4,577 shares of the company’s stock, valued at $154,199.13. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 6,000 shares of company stock worth $192,590 and sold 40,764 shares worth $1,319,029. Company insiders own 9.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of FARM. Victory Capital Management Inc. raised its stake in shares of Farmer Brothers by 17.7% during the second 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 in the last quarter. Nationwide Fund Advisors raised its stake in shares of Farmer Brothers by 6.9% during the second 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 stake in shares of Farmer Brothers by 2,043.6% during the second 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. Alliancebernstein L.P. raised its stake in shares of Farmer Brothers by 22.9% during the second 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. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Farmer Brothers by 12.4% during the second 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 in the last quarter. Institutional investors and hedge funds own 55.90% of the company’s stock.
Farmer Brothers (NASDAQ:FARM) opened at $31.45 on Thursday. Farmer Brothers has a one year low of $28.75 and a one year high of $37.35. The stock has a market capitalization of $532.25, a price-to-earnings ratio of 24.01 and a beta of 0.48.
Farmer Brothers (NASDAQ:FARM) last posted its earnings results on Tuesday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $131.70 million for the quarter, compared to analysts’ expectations of $131.09 million. Farmer Brothers had a return on equity of 4.13% and a net margin of 4.02%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. sell-side analysts forecast that Farmer Brothers will post 0.72 EPS for the current fiscal year.
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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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