Shares of Farmer Brothers Co. (NASDAQ:FARM) have been given an average broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the stock, Zacks Investment Research reports. Three analysts have rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus price target of $39.33 for the company and are anticipating that the company will post $0.25 earnings per share for the current quarter, according to Zacks. Zacks has also given Farmer Brothers an industry rank of 225 out of 265 based on the ratings given to related companies.
Several research analysts have weighed in on FARM shares. Zacks Investment Research raised shares of Farmer Brothers from a “sell” rating to a “hold” rating in a report on Monday, September 5th. B. Riley reissued a “buy” rating and issued a $38.00 price target on shares of Farmer Brothers in a report on Monday, September 19th.
In other news, CEO Michael H. Keown sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $32.59, for a total transaction of $391,080.00. Following the transaction, the chief executive officer now directly owns 59,242 shares of the company’s stock, valued at $1,930,696.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 38.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Advisors LLC boosted its position in shares of Farmer Brothers by 14.5% in the second quarter. BlackRock Advisors LLC now owns 3,858 shares of the company’s stock valued at $124,000 after buying an additional 489 shares in the last quarter. American International Group Inc. boosted its position in shares of Farmer Brothers by 2.7% in the second quarter. American International Group Inc. now owns 4,657 shares of the company’s stock valued at $149,000 after buying an additional 123 shares in the last quarter. Springbok Capital Management LLC boosted its position in shares of Farmer Brothers by 28.9% in the first quarter. Springbok Capital Management LLC now owns 4,900 shares of the company’s stock valued at $137,000 after buying an additional 1,100 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Farmer Brothers by 6.2% in the second quarter. Nationwide Fund Advisors now owns 5,009 shares of the company’s stock valued at $161,000 after buying an additional 292 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Farmer Brothers by 4.9% in the second quarter. Rhumbline Advisers now owns 8,712 shares of the company’s stock valued at $279,000 after buying an additional 407 shares in the last quarter. 45.85% of the stock is currently owned by institutional investors.
Farmer Brothers (NASDAQ:FARM) opened at 32.72 on Tuesday. Farmer Brothers has a 12-month low of $24.04 and a 12-month high of $36.96. The firm’s 50-day moving average price is $33.54 and its 200 day moving average price is $30.99. The firm has a market cap of $541.84 million, a P/E ratio of 6.06 and a beta of 0.94.
Farmer Brothers (NASDAQ:FARM) last released its quarterly earnings results on Monday, September 12th. The company reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.09. The company earned $134.20 million during the quarter, compared to the consensus estimate of $135.56 million. Farmer Brothers had a net margin of 16.52% and a return on equity of 14.69%. Farmer Brothers’s quarterly revenue was up 1.2% on a year-over-year basis. Analysts forecast that Farmer Brothers will post $1.25 earnings per share for the current fiscal year.
Farmer Brothers Company Profile
Farmer Bros. Co is a manufacturer, wholesaler and distributor of coffee, tea and culinary products. The Company’s customers include restaurants, hotels, casinos, offices, quick service restaurants (QSRs), convenience stores, healthcare facilities and other foodservice providers, as well as private brand retailers in the QSR, grocery, drugstore, restaurant, convenience store and coffee house channels.
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