Farmer Bros (NASDAQ:FARM) posted its quarterly earnings results on Tuesday. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.37), Morningstar.com reports. Farmer Bros had a negative return on equity of 3.34% and a negative net margin of 10.72%.
FARM stock opened at $14.00 on Wednesday. Farmer Bros has a 52-week low of $10.65 and a 52-week high of $29.50. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.93 and a current ratio of 2.03. The firm has a market capitalization of $224.25 million, a price-to-earnings ratio of 107.69, a PEG ratio of 7.83 and a beta of 0.13. The firm has a 50 day moving average price of $13.80 and a 200-day moving average price of $18.22.
In related news, major shareholder Levin Easterly Partners Llc purchased 94,497 shares of the business’s stock in a transaction dated Wednesday, June 19th. The shares were purchased at an average cost of $17.02 per share, for a total transaction of $1,608,338.94. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 111,260 shares of company stock valued at $1,878,262 in the last quarter. 10.90% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the business. Deutsche Bank AG raised its stake in shares of Farmer Bros by 38.0% during the 4th quarter. Deutsche Bank AG now owns 37,083 shares of the company’s stock worth $863,000 after buying an additional 10,209 shares in the last quarter. Kennedy Capital Management Inc. raised its stake in shares of Farmer Bros by 10.1% in the 1st quarter. Kennedy Capital Management Inc. now owns 446,082 shares of the company’s stock valued at $8,926,000 after acquiring an additional 40,869 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in Farmer Bros by 16.9% during the first quarter. Gamco Investors INC. ET AL now owns 103,700 shares of the company’s stock worth $2,075,000 after purchasing an additional 15,000 shares during the period. Millennium Management LLC acquired a new position in Farmer Bros during the fourth quarter valued at approximately $225,000. Finally, Trigran Investments Inc. lifted its stake in shares of Farmer Bros by 12.8% in the second quarter. Trigran Investments Inc. now owns 1,972,319 shares of the company’s stock worth $32,286,000 after buying an additional 223,041 shares during the last quarter. Institutional investors and hedge funds own 84.07% of the company’s stock.
A number of equities research analysts have issued reports on the stock. ValuEngine raised shares of Farmer Bros from a “hold” rating to a “buy” rating in a report on Monday, August 12th. B. Riley set a $21.00 target price on Farmer Bros and gave the stock a “hold” rating in a research note on Friday, September 6th. Lake Street Capital cut their price objective on Farmer Bros from $26.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday. Zacks Investment Research raised Farmer Bros from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, BidaskClub downgraded Farmer Bros from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Farmer Bros has a consensus rating of “Hold” and a consensus price target of $18.67.
Farmer Bros Company Profile
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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