Farmer Brothers (FARM) Rating Lowered to Sell at BidaskClub

Farmer Brothers (NASDAQ:FARM) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other brokerages have also issued reports on FARM. B. Riley reissued a “buy” rating and set a $37.25 price target on shares of Farmer Brothers in a research note on Monday, August 28th. ValuEngine upgraded Farmer Brothers from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. Zacks Investment Research upgraded Farmer Brothers from a “sell” rating to a “hold” rating and set a $35.00 target price on the stock in a research note on Monday, November 6th. Finally, TheStreet upgraded Farmer Brothers from a “c+” rating to a “b-” rating in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Farmer Brothers presently has a consensus rating of “Hold” and an average target price of $36.75.

Farmer Brothers (NASDAQ FARM) traded up $1.05 during midday trading on Friday, hitting $34.30. The stock had a trading volume of 104,906 shares, compared to its average volume of 54,637. Farmer Brothers has a 1 year low of $28.75 and a 1 year high of $37.35. The company has a market capitalization of $577.71, a P/E ratio of 67.25 and a beta of 0.45.

Farmer Brothers (NASDAQ:FARM) last announced its earnings results on Tuesday, November 7th. The company reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. The firm had revenue of $131.70 million during the quarter, compared to analysts’ expectations of $131.09 million. Farmer Brothers had a return on equity of 4.13% and a net margin of 4.02%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. equities analysts predict that Farmer Brothers will post 0.72 earnings per share for the current fiscal year.

In other news, Director Jeanne Farmer Grossman sold 1,358 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $34.21, for a total value of $46,457.18. Following the completion of the sale, the director now directly owns 16,973 shares in the company, valued at $580,646.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael H. Keown sold 22,000 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $30.96, for a total value of $681,120.00. The disclosure for this sale can be found here. In the last three months, insiders have acquired 6,000 shares of company stock valued at $192,590 and have sold 40,764 shares valued at $1,319,029. 9.20% of the stock is owned by corporate insiders.

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in Farmer Brothers by 17.7% during the second quarter. Victory Capital Management Inc. now owns 4,735 shares of the company’s stock worth $143,000 after purchasing an additional 711 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Farmer Brothers by 6.9% in the second 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. Citigroup Inc. raised its stake in shares of Farmer Brothers by 2,043.6% in the second quarter. Citigroup Inc. now owns 6,238 shares of the company’s stock valued at $189,000 after acquiring an additional 5,947 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Farmer Brothers by 22.9% in the second 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. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Farmer Brothers by 12.4% in the second 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. Institutional investors own 55.90% of the company’s stock.

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About Farmer Brothers

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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