StockNews.com Initiates Coverage on Farmer Bros. (NASDAQ:FARM)

StockNews.com started coverage on shares of Farmer Bros. (NASDAQ:FARMFree Report) in a report issued on Thursday morning. The firm issued a hold rating on the stock.

Separately, Roth Mkm reduced their target price on Farmer Bros. from $6.00 to $4.50 and set a “buy” rating on the stock in a research note on Wednesday, September 18th.

Read Our Latest Research Report on Farmer Bros.

Farmer Bros. Price Performance

Farmer Bros. stock opened at $1.69 on Thursday. The stock has a market cap of $36.08 million, a price-to-earnings ratio of -4.69 and a beta of 1.80. The company has a quick ratio of 0.58, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The business has a 50-day simple moving average of $1.93 and a 200 day simple moving average of $2.22. Farmer Bros. has a 52 week low of $1.60 and a 52 week high of $4.04.

Farmer Bros. (NASDAQ:FARMGet Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.01). Farmer Bros. had a negative net margin of 2.20% and a negative return on equity of 35.41%. The company had revenue of $85.07 million for the quarter, compared to the consensus estimate of $84.80 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. On average, research analysts forecast that Farmer Bros. will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Global Wealth Management Investment Advisory Inc. grew its holdings in shares of Farmer Bros. by 58.3% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 19,000 shares of the company’s stock valued at $38,000 after purchasing an additional 7,000 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Farmer Bros. by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 559,500 shares of the company’s stock valued at $1,499,000 after acquiring an additional 7,600 shares during the period. Geode Capital Management LLC increased its stake in Farmer Bros. by 5.8% in the 3rd quarter. Geode Capital Management LLC now owns 209,288 shares of the company’s stock worth $414,000 after purchasing an additional 11,390 shares during the period. PFG Investments LLC bought a new stake in Farmer Bros. in the third quarter valued at approximately $33,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Farmer Bros. by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 367,919 shares of the company’s stock worth $986,000 after purchasing an additional 17,327 shares during the last quarter. 64.48% of the stock is owned by hedge funds and other institutional investors.

About Farmer Bros.

(Get Free Report)

Farmer Bros. Co engages in the roasting, wholesale, equipment servicing, and distribution of coffee, tea, and other allied products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavoured and unflavoured iced and hot teas; culinary products, including spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, and syrups and sauces, as well as coffee filters, cups, sugar, and creamers; and other beverages comprising cappuccino, cocoa, granitas, and other blender-based beverages and concentrated and ready-to-drink cold brew and iced coffee.

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