Farmer Bros. (NASDAQ:FARM) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Farmer Bros. (NASDAQ:FARM) in a research report sent to investors on Monday. The firm issued a hold rating on the stock.

Farmer Bros. Price Performance

Shares of FARM stock opened at $2.43 on Monday. Farmer Bros. has a fifty-two week low of $1.60 and a fifty-two week high of $3.86. The firm has a market capitalization of $51.88 million, a price-to-earnings ratio of -5.06 and a beta of 1.78. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.60 and a current ratio of 1.28. The stock’s 50-day simple moving average is $1.82 and its 200-day simple moving average is $2.08.

Farmer Bros. (NASDAQ:FARM) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.18. Farmer Bros. had a negative return on equity of 27.45% and a negative net margin of 2.92%. As a group, equities analysts forecast that Farmer Bros. will post -0.37 earnings per share for the current fiscal year.

Institutional Trading of Farmer Bros.

Several large investors have recently made changes to their positions in the business. Penn Capital Management Company LLC boosted its stake in shares of Farmer Bros. by 28.6% in the fourth quarter. Penn Capital Management Company LLC now owns 1,327,831 shares of the company’s stock worth $2,390,000 after buying an additional 295,280 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Farmer Bros. by 7.2% during the fourth quarter. Renaissance Technologies LLC now owns 594,800 shares of the company’s stock worth $1,071,000 after buying an additional 40,200 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Farmer Bros. by 5.8% during the third quarter. Geode Capital Management LLC now owns 209,288 shares of the company’s stock worth $414,000 after buying an additional 11,390 shares in the last quarter. Squarepoint Ops LLC boosted its stake in shares of Farmer Bros. by 67.1% during the 4th quarter. Squarepoint Ops LLC now owns 69,270 shares of the company’s stock worth $125,000 after acquiring an additional 27,805 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Farmer Bros. during the 4th quarter worth about $69,000. 64.48% of the stock is owned by hedge funds and other institutional investors.

About Farmer Bros.

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.