Farmer Bros (FARM) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of Farmer Bros (NASDAQ:FARM) from a strong sell rating to a sell rating in a report released on Tuesday morning, BidAskClub reports.

Other analysts also recently issued research reports about the stock. Lake Street Capital reduced their price objective on shares of Farmer Bros from $36.00 to $26.00 and set a buy rating for the company in a research report on Wednesday, May 8th. Roth Capital reduced their price objective on shares of Farmer Bros from $33.00 to $28.00 and set a buy rating for the company in a research report on Monday, May 6th. TheStreet downgraded shares of Farmer Bros from a c rating to a d+ rating in a research report on Wednesday, May 8th. Zacks Investment Research upgraded shares of Farmer Bros from a strong sell rating to a hold rating in a research report on Tuesday, April 16th. Finally, ValuEngine upgraded shares of Farmer Bros from a sell rating to a hold rating in a research report on Wednesday, April 3rd. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $22.33.

Shares of NASDAQ:FARM opened at $19.04 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.93 and a current ratio of 2.03. Farmer Bros has a twelve month low of $16.92 and a twelve month high of $31.50.



Farmer Bros (NASDAQ:FARM) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($3.05) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($3.11). The company had revenue of $146.70 million for the quarter, compared to analysts’ expectations of $152.03 million. Farmer Bros had a negative return on equity of 3.34% and a negative net margin of 10.72%. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.20) EPS. As a group, sell-side analysts expect that Farmer Bros will post -0.41 EPS for the current year.

In other Farmer Bros news, major shareholder Levin Easterly Partners Llc bought 129,979 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were acquired at an average cost of $17.43 per share, with a total value of $2,265,533.97. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought a total of 701,571 shares of company stock worth $13,599,980 over the last ninety days. Corporate insiders own 10.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in FARM. BlackRock Inc. increased its stake in Farmer Bros by 0.8% in the 3rd quarter. BlackRock Inc. now owns 669,178 shares of the company’s stock valued at $17,665,000 after buying an additional 4,998 shares during the period. MetLife Investment Advisors LLC boosted its position in shares of Farmer Bros by 63.1% in the 3rd quarter. MetLife Investment Advisors LLC now owns 6,469 shares of the company’s stock worth $171,000 after buying an additional 2,502 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Farmer Bros by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 580,677 shares of the company’s stock worth $15,330,000 after buying an additional 20,649 shares in the last quarter. Vanguard Group Inc boosted its position in shares of Farmer Bros by 3.7% in the 3rd quarter. Vanguard Group Inc now owns 580,677 shares of the company’s stock worth $15,330,000 after buying an additional 20,649 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Farmer Bros in the 4th quarter worth about $465,000. 60.09% of the stock is currently owned by institutional investors and hedge funds.

About Farmer Bros

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 cold brew and iced coffee.

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