Shares of Farmer Bros Co (NASDAQ:FARM) have been given an average recommendation of “Hold” by the seven analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $34.67.
FARM has been the topic of a number of research analyst reports. B. Riley cut their target price on shares of Farmer Bros from $34.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, September 27th. BidaskClub upgraded shares of Farmer Bros from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 24th. Finally, Zacks Investment Research lowered shares of Farmer Bros from a “hold” rating to a “strong sell” rating in a research report on Friday, November 9th.
NASDAQ FARM opened at $23.98 on Friday. The company has a market cap of $414.43 million, a P/E ratio of 184.46, a PEG ratio of 17.44 and a beta of 0.17. Farmer Bros has a 1 year low of $23.02 and a 1 year high of $34.95.
Farmer Bros (NASDAQ:FARM) last issued its earnings results on Wednesday, November 7th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.09). Farmer Bros had a negative net margin of 4.10% and a negative return on equity of 0.57%. The company had revenue of $147.44 million during the quarter, compared to analyst estimates of $146.39 million. During the same quarter in the prior year, the business earned $0.05 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. Analysts forecast that Farmer Bros will post 0.18 earnings per share for the current fiscal year.
In other Farmer Bros news, CEO Michael H. Keown sold 23,333 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The shares were sold at an average price of $28.03, for a total value of $654,023.99. Following the sale, the chief executive officer now owns 68,405 shares in the company, valued at $1,917,392.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 10.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Farmer Bros by 3.7% in the third quarter. Vanguard Group Inc. now owns 580,677 shares of the company’s stock valued at $15,330,000 after buying an additional 20,649 shares in the last quarter. MetLife Investment Advisors LLC raised its stake in shares of Farmer Bros by 63.1% during the third quarter. MetLife Investment Advisors LLC now owns 6,469 shares of the company’s stock valued at $171,000 after acquiring an additional 2,502 shares during the last quarter. Capital Research Global Investors bought a new position in shares of Farmer Bros during the third quarter valued at $17,899,000. Dimensional Fund Advisors LP raised its stake in shares of Farmer Bros by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 919,372 shares of the company’s stock valued at $24,271,000 after acquiring an additional 22,266 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Farmer Bros by 0.8% during the third quarter. BlackRock Inc. now owns 669,178 shares of the company’s stock valued at $17,665,000 after acquiring an additional 4,998 shares during the last quarter. Hedge funds and other institutional investors own 60.32% 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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