Farmer Bros (NASDAQ:FARM) Stock Rating Lowered by Zacks Investment Research

Farmer Bros (NASDAQ:FARM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday, Zacks.com reports.

According to Zacks, “Farmer Bros. Co. is in the business of roasting, packaging and distributing coffee and allied products to restaurants, hotels, hospitals, convenience stores and fast food outlets. The company’s primary raw material is green coffee. Green coffee is purchased through domestic commodity brokers. Coffee is an agricultural commodity, and is subject to fluctuations of both price and supply. “

Separately, B. Riley cut their target price on shares of Farmer Bros from $12.00 to $8.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $10.75.

NASDAQ FARM opened at $7.37 on Monday. The stock has a market cap of $113.72 million, a P/E ratio of -3.43 and a beta of 1.13. Farmer Bros has a fifty-two week low of $5.94 and a fifty-two week high of $17.67. The stock has a 50 day simple moving average of $8.11 and a two-hundred day simple moving average of $10.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.99 and a current ratio of 1.97.

Farmer Bros (NASDAQ:FARM) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.04. The company had revenue of $129.14 million during the quarter, compared to analyst estimates of $136.84 million. Farmer Bros had a negative return on equity of 12.79% and a negative net margin of 6.43%. Sell-side analysts predict that Farmer Bros will post -1.08 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of FARM. Trigran Investments Inc. boosted its holdings in shares of Farmer Bros by 15.1% during the 1st quarter. Trigran Investments Inc. now owns 2,237,553 shares of the company’s stock valued at $15,573,000 after buying an additional 293,703 shares in the last quarter. Levin Easterly Partners LLC lifted its position in Farmer Bros by 1.5% during the 4th quarter. Levin Easterly Partners LLC now owns 1,419,688 shares of the company’s stock valued at $21,381,000 after acquiring an additional 21,661 shares during the period. Renaissance Technologies LLC boosted its stake in Farmer Bros by 6.0% during the fourth quarter. Renaissance Technologies LLC now owns 571,600 shares of the company’s stock worth $8,608,000 after acquiring an additional 32,300 shares in the last quarter. Gamco Investors INC. ET AL grew its holdings in Farmer Bros by 2.2% in the first quarter. Gamco Investors INC. ET AL now owns 240,200 shares of the company’s stock worth $1,672,000 after purchasing an additional 5,200 shares during the period. Finally, State Street Corp grew its holdings in Farmer Bros by 11.1% in the first quarter. State Street Corp now owns 236,885 shares of the company’s stock worth $1,649,000 after purchasing an additional 23,590 shares during the period. Institutional investors and hedge funds own 81.69% of the company’s stock.

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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