Farmer Brothers’ (FARM) Buy Rating Reiterated at B. Riley
Farmer Brothers Company (NASDAQ:FARM)‘s stock had its “buy” rating reaffirmed by B. Riley in a research note issued on Wednesday. They presently have a $38.50 price target on the stock. B. Riley’s price objective would suggest a potential upside of 20.12% from the stock’s current price. B. Riley also issued estimates for Farmer Brothers’ FY2018 earnings at $0.53 EPS, Q1 2019 earnings at $0.17 EPS, Q2 2019 earnings at $0.24 EPS, Q3 2019 earnings at $0.23 EPS, Q4 2019 earnings at $0.19 EPS and FY2019 earnings at $0.83 EPS.
Separately, ValuEngine upgraded Farmer Brothers from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd.
Shares of Farmer Brothers (FARM) traded down 1.72% on Wednesday, reaching $31.50. The company had a trading volume of 32,417 shares. The firm has a market capitalization of $526.05 million, a PE ratio of 21.72 and a beta of 0.44. The company has a 50-day moving average price of $31.40 and a 200-day moving average price of $32.09. Farmer Brothers has a 52-week low of $28.75 and a 52-week high of $37.55.
Farmer Brothers (NASDAQ:FARM) last announced its earnings results on Thursday, September 28th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.04. The firm had revenue of $133.80 million during the quarter, compared to the consensus estimate of $135.72 million. Farmer Brothers had a return on equity of 6.94% and a net margin of 4.51%. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.23 EPS. Equities research analysts forecast that Farmer Brothers will post $0.67 EPS for the current fiscal year.
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In other news, major shareholder Carol Farmer Waite sold 350,000 shares of the stock in a transaction 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.20% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its position in Farmer Brothers by 62.8% in the first quarter. Wellington Management Group LLP now owns 1,337,166 shares of the company’s stock worth $47,269,000 after purchasing an additional 515,867 shares in the last quarter. Trigran Investments Inc. raised its holdings in shares of Farmer Brothers by 1.7% in the 2nd quarter. Trigran Investments Inc. now owns 1,140,924 shares of the company’s stock worth $36,578,000 after buying an additional 18,668 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Farmer Brothers by 11.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 732,654 shares of the company’s stock worth $22,163,000 after buying an additional 74,796 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Farmer Brothers by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 534,948 shares of the company’s stock worth $16,182,000 after buying an additional 21,825 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Farmer Brothers by 1.4% in the 4th quarter. Royce & Associates LP now owns 513,877 shares of the company’s stock worth $18,859,000 after buying an additional 6,900 shares in the last quarter. Institutional investors and hedge funds own 54.20% of the company’s stock.
Farmer Brothers Company Profile
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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