Wall Street analysts expect that Farmer Bros Co (NASDAQ:FARM) will post sales of $135.14 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Farmer Bros’ earnings, with estimates ranging from $132.67 million to $137.60 million. Farmer Bros reported sales of $147.44 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 8.3%. The business is expected to issue its next earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that Farmer Bros will report full year sales of $577.53 million for the current financial year, with estimates ranging from $567.15 million to $587.90 million. For the next financial year, analysts expect that the company will report sales of $599.22 million, with estimates ranging from $572.74 million to $625.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Farmer Bros.

Farmer Bros (NASDAQ:FARM) last issued its earnings results on Tuesday, September 10th. The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.37). Farmer Bros had a negative return on equity of 9.51% and a negative net margin of 12.35%. The company had revenue of $142.05 million during the quarter, compared to analysts’ expectations of $146.90 million.

Several equities analysts recently issued reports on the company. B. Riley dropped their price target on Farmer Bros from $21.00 to $10.50 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Lake Street Capital dropped their price target on Farmer Bros from $26.00 to $15.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Roth Capital dropped their price target on Farmer Bros from $20.00 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Zacks Investment Research cut Farmer Bros from a “hold” rating to a “sell” rating in a research report on Friday, September 13th. Finally, BidaskClub cut Farmer Bros from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Farmer Bros presently has an average rating of “Hold” and an average target price of $12.17.

In related news, major shareholder Levin Easterly Partners Llc purchased 9,342 shares of Farmer Bros stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average price of $16.47 per share, with a total value of $153,862.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Randy E. Clark acquired 3,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were acquired at an average price of $14.11 per share, for a total transaction of $42,330.00. Following the purchase, the director now owns 21,928 shares of the company’s stock, valued at $309,404.08. The disclosure for this purchase can be found here. Insiders purchased a total of 16,871 shares of company stock worth $259,561 in the last 90 days. 10.90% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA raised its holdings in Farmer Bros by 415.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the company’s stock worth $42,000 after acquiring an additional 1,695 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Farmer Bros by 22.7% during the second quarter. JPMorgan Chase & Co. now owns 3,772 shares of the company’s stock worth $60,000 after buying an additional 698 shares during the last quarter. Bank of America Corp DE grew its holdings in Farmer Bros by 39.3% during the fourth quarter. Bank of America Corp DE now owns 7,573 shares of the company’s stock valued at $177,000 after purchasing an additional 2,137 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Farmer Bros by 5.5% in the second quarter. Wells Fargo & Company MN now owns 19,632 shares of the company’s stock valued at $322,000 after buying an additional 1,016 shares during the period. Finally, Swiss National Bank boosted its holdings in Farmer Bros by 5.1% during the second quarter. Swiss National Bank now owns 20,500 shares of the company’s stock worth $336,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 84.07% of the company’s stock.

Shares of FARM traded down $0.24 during midday trading on Thursday, reaching $14.45. 163,906 shares of the stock were exchanged, compared to its average volume of 174,515. The business’s 50-day moving average price is $13.26 and its 200 day moving average price is $17.75. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.66 and a quick ratio of 0.75. Farmer Bros has a twelve month low of $10.26 and a twelve month high of $28.05. The company has a market capitalization of $251.09 million, a price-to-earnings ratio of -13.38 and a beta of 0.13.

About Farmer Bros

Farmer Bros. Co engages in the manufacture, wholesale, and distribution of coffee, tea, and culinary products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavored and unflavored iced and hot teas; culinary products, including gelatins and puddings, soup bases, dressings, gravy and sauce mixes, pancake and biscuit mixes, jellies and preserves, and coffee-related products, such as coffee filters, sugar, and creamers; spices; and other beverages comprising cappuccino, cocoa, granitas, and ready-to-drink cold brew and iced coffee.

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