Farmer Bros Co (FARM) Given Average Recommendation of “Strong Buy” by Brokerages

Farmer Bros Co (NASDAQ:FARM) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Analysts have set a 12-month consensus price objective of $38.50 for the company and are predicting that the company will post $0.18 EPS for the current quarter, according to Zacks. Zacks has also assigned Farmer Bros an industry rank of 134 out of 265 based on the ratings given to its competitors.

Several equities analysts have recently commented on FARM shares. TheStreet upgraded Farmer Bros from a “c+” rating to a “b-” rating in a research note on Wednesday, November 1st. Zacks Investment Research upgraded Farmer Bros from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Thursday, February 8th. B. Riley reiterated a “buy” rating and set a $38.50 target price on shares of Farmer Bros in a research note on Wednesday, November 8th. Finally, BidaskClub raised Farmer Bros from a “sell” rating to a “hold” rating in a research report on Wednesday.

Farmer Bros (NASDAQ FARM) opened at $31.30 on Friday. The company has a market capitalization of $541.95, a P/E ratio of -30.39 and a beta of 0.51. Farmer Bros has a one year low of $28.75 and a one year high of $37.35.

Farmer Bros (NASDAQ:FARM) last released its earnings results on Tuesday, February 6th. The company reported ($1.09) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($1.27). The business had revenue of $167.37 million for the quarter, compared to analysts’ expectations of $161.62 million. Farmer Bros had a negative net margin of 2.98% and a negative return on equity of 5.67%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.20 earnings per share. analysts expect that Farmer Bros will post -0.62 EPS for the current year.

In related news, Director Jeanne Farmer Grossman sold 10,760 shares of the company’s stock in a transaction that occurred on Wednesday, November 29th. The stock was sold at an average price of $33.84, for a total transaction of $364,118.40. Following the sale, the director now directly owns 16,973 shares of the company’s stock, valued at approximately $574,366.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Charles F. Marcy purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The shares were purchased at an average cost of $33.69 per share, for a total transaction of $33,690.00. Following the completion of the transaction, the director now owns 4,577 shares in the company, valued at approximately $154,199.13. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 18,764 shares of company stock worth $637,909. Corporate insiders own 9.20% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. raised its position in shares of Farmer Bros by 0.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 40,301 shares of the company’s stock valued at $1,220,000 after acquiring an additional 247 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Farmer Bros by 6.9% during the 2nd quarter. Nationwide Fund Advisors now owns 5,825 shares of the company’s stock valued at $176,000 after acquiring an additional 378 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Farmer Bros by 12.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,492 shares of the company’s stock valued at $227,000 after acquiring an additional 829 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Farmer Bros by 11.1% during the 2nd quarter. Wells Fargo & Company MN now owns 9,204 shares of the company’s stock valued at $279,000 after acquiring an additional 923 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Farmer Bros by 22.9% during the 2nd quarter. Alliancebernstein L.P. now owns 7,517 shares of the company’s stock valued at $227,000 after acquiring an additional 1,400 shares in the last quarter. 54.68% of the stock is currently owned by institutional investors and hedge funds.

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About Farmer Bros

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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