Farmer Brothers Co. (NASDAQ:FARM) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong buy rating.
Brokers have set a one year consensus price objective of $38.50 for the company and are forecasting that the company will post $0.18 EPS for the current quarter, according to Zacks. Zacks has also assigned Farmer Brothers an industry rank of 107 out of 265 based on the ratings given to its competitors.
FARM has been the subject of a number of recent analyst reports. BidaskClub cut Farmer Brothers from a “hold” rating to a “sell” rating in a report on Friday, December 15th. B. Riley reaffirmed a “buy” rating and set a $38.50 price target on shares of Farmer Brothers in a report on Wednesday, November 8th. TheStreet raised Farmer Brothers from a “c+” rating to a “b-” rating in a report on Wednesday, November 1st. Finally, Zacks Investment Research cut Farmer Brothers from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th.
Farmer Brothers (NASDAQ:FARM) last issued its earnings results on Tuesday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. Farmer Brothers had a return on equity of 4.13% and a net margin of 4.02%. The business had revenue of $131.70 million during the quarter, compared to analysts’ expectations of $131.09 million. During the same period in the prior year, the firm posted $0.21 EPS. Farmer Brothers’s quarterly revenue was up .9% compared to the same quarter last year. equities analysts expect that Farmer Brothers will post 0.72 EPS for the current year.
In other news, Director Randy E. Clark acquired 3,000 shares of the firm’s stock in a transaction on Monday, November 13th. The shares were purchased at an average cost of $32.00 per share, for a total transaction of $96,000.00. Following the transaction, the director now owns 14,316 shares of the company’s stock, valued at $458,112. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Christopher P. Mottern acquired 2,000 shares of the firm’s stock in a transaction on Friday, November 10th. The stock was purchased at an average price of $31.45 per share, for a total transaction of $62,900.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 6,000 shares of company stock valued at $192,590 and have sold 40,764 shares valued at $1,319,029. Company insiders own 9.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. Northern Trust Corp boosted its position in Farmer Brothers by 2.1% in the 2nd quarter. Northern Trust Corp now owns 153,118 shares of the company’s stock valued at $4,631,000 after buying an additional 3,210 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Farmer Brothers by 11.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 732,654 shares of the company’s stock valued at $22,163,000 after buying an additional 74,796 shares during the last quarter. Vanguard Group Inc. boosted its position in Farmer Brothers by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 534,948 shares of the company’s stock valued at $16,182,000 after buying an additional 21,825 shares during the last quarter. Trigran Investments Inc. boosted its position in Farmer Brothers by 3.6% in the 2nd quarter. Trigran Investments Inc. now owns 974,579 shares of the company’s stock valued at $29,481,000 after buying an additional 33,806 shares during the last quarter. Finally, Kennedy Capital Management Inc. boosted its position in Farmer Brothers by 176.3% in the 2nd quarter. Kennedy Capital Management Inc. now owns 202,009 shares of the company’s stock valued at $6,111,000 after buying an additional 128,903 shares during the last quarter. Hedge funds and other institutional investors own 55.90% of the company’s stock.
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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