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

Research analysts at StockNews.com started coverage on shares of Farmer Bros. (NASDAQ:FARM) in a report released on Thursday. The brokerage set a “hold” rating on the stock.

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

Farmer Bros. Stock Performance

Shares of Farmer Bros. stock opened at $1.69 on Thursday. Farmer Bros. has a 52 week low of $1.60 and a 52 week high of $4.04. 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 moving average price of $1.93 and a 200-day moving average price of $2.22. The company has a market cap of $36.08 million, a PE ratio of -4.69 and a beta of 1.80.

Farmer Bros. (NASDAQ:FARM) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). The company had revenue of $85.07 million during the quarter, compared to analysts’ expectations of $84.80 million. Farmer Bros. had a negative net margin of 2.20% and a negative return on equity of 35.41%. During the same period in the previous year, the company posted ($0.06) earnings per share. Equities analysts anticipate that Farmer Bros. will post -0.62 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FARM. Renaissance Technologies LLC increased its position in shares of 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 purchasing an additional 7,600 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Farmer Bros. by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 367,919 shares of the company’s stock valued at $986,000 after buying an additional 17,327 shares during the period. Geode Capital Management LLC increased 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 during the last quarter. Sanders Morris Harris LLC raised its position in Farmer Bros. by 53.8% in the third quarter. Sanders Morris Harris LLC now owns 154,283 shares of the company’s stock worth $305,000 after acquiring an additional 54,000 shares during the period. Finally, Global Wealth Management Investment Advisory Inc. raised its position in Farmer Bros. by 58.3% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 19,000 shares of the company’s stock worth $38,000 after acquiring an additional 7,000 shares during the period. Hedge funds and other institutional investors own 64.48% of the company’s stock.

Farmer Bros. Company Profile

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.