Farmer Brothers’ (FARM) Buy Rating Reaffirmed at B. Riley
Farmer Brothers Company (NASDAQ:FARM)‘s stock had its “buy” rating restated by equities researchers at B. Riley in a research report issued on Saturday. They presently have a $37.25 target price on the stock. B. Riley’s target price would indicate a potential upside of 22.94% from the stock’s current price.
Other research analysts also recently issued reports about the stock. TheStreet downgraded shares of Farmer Brothers from a “b” rating to a “c+” rating in a research note on Tuesday, May 30th. ValuEngine raised shares of Farmer Brothers from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd.
Farmer Brothers (NASDAQ FARM) traded down 2.26% during midday trading on Friday, reaching $30.30. 117,379 shares of the company’s stock were exchanged. The stock has a market cap of $503.13 million, a PE ratio of 4.71 and a beta of 0.43. Farmer Brothers has a 12 month low of $28.90 and a 12 month high of $37.55. The firm has a 50 day moving average of $31.49 and a 200-day moving average of $32.26.
Farmer Brothers (NASDAQ:FARM) last posted its quarterly earnings results on Tuesday, September 12th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.08). The business had revenue of $133.80 million for the quarter, compared to analysts’ expectations of $135.72 million. Farmer Brothers had a return on equity of 7.55% and a net margin of 19.84%. The company’s revenue was down .3% compared to the same quarter last year. During the same period last year, the business posted $0.23 earnings per share. On average, equities research analysts predict that Farmer Brothers will post $0.66 earnings per share for the current year.
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In other news, major shareholder Carol Farmer Waite sold 350,000 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $29.60, for a total value of $10,360,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 9.20% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Analytic Investors LLC grew its holdings in shares of Farmer Brothers by 1.3% in the third quarter. Analytic Investors LLC now owns 8,079 shares of the company’s stock worth $287,000 after purchasing an additional 100 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Farmer Brothers by 0.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 40,301 shares of the company’s stock worth $1,220,000 after purchasing an additional 247 shares during the last quarter. Fortaleza Asset Management Inc. grew its holdings in shares of Farmer Brothers by 8.0% in the fourth quarter. Fortaleza Asset Management Inc. now owns 3,990 shares of the company’s stock worth $146,000 after purchasing an additional 295 shares during the last quarter. American International Group Inc. grew its holdings in shares of Farmer Brothers by 7.0% in the first quarter. American International Group Inc. now owns 4,977 shares of the company’s stock worth $176,000 after purchasing an additional 326 shares during the last quarter. Finally, Nationwide Fund Advisors grew its holdings in shares of Farmer Brothers by 6.9% in the second quarter. Nationwide Fund Advisors now owns 5,825 shares of the company’s stock worth $176,000 after purchasing an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 54.20% of the company’s stock.
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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