Farmer Brothers (NASDAQ:FARM) Cut to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of Farmer Brothers (NASDAQ:FARM) from a buy rating to a hold rating in a research report released on Tuesday, January 9th.

According to Zacks, “Farmer Bros. Co. is in the business of roasting, packaging and distributing coffee and allied products to restaurants, hotels, hospitals, convenience stores and fast food outlets. The company’s primary raw material is green coffee. Green coffee is purchased through domestic commodity brokers. Coffee is an agricultural commodity, and is subject to fluctuations of both price and supply. “

Several other research firms have also recently weighed in on FARM. B. Riley reiterated a buy rating and set a $38.50 price objective on shares of Farmer Brothers in a research report on Wednesday, October 4th. BidaskClub lowered shares of Farmer Brothers from a hold rating to a sell rating in a research note on Friday, December 15th. Finally, TheStreet raised shares of Farmer Brothers from a c+ rating to a b- rating in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. Farmer Brothers has an average rating of Hold and an average target price of $36.75.

Shares of Farmer Brothers (NASDAQ FARM) traded down $0.55 during trading hours on Tuesday, reaching $30.95. 53,400 shares of the company traded hands, compared to its average volume of 53,110. The company has a market cap of $527.19, a P/E ratio of 23.81 and a beta of 0.48. Farmer Brothers has a fifty-two week low of $28.75 and a fifty-two week high of $37.35.

Farmer Brothers (NASDAQ:FARM) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. Farmer Brothers had a net margin of 4.02% and a return on equity of 4.13%. The firm 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 company posted $0.21 EPS. The company’s revenue was up .9% on a year-over-year basis. equities research analysts anticipate that Farmer Brothers will post 0.72 EPS for the current year.

In other news, Director Christopher P. Mottern purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average cost of $31.45 per share, with a total value of $62,900.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael H. Keown sold 22,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $30.96, for a total transaction of $681,120.00. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 6,000 shares of company stock worth $192,590 and sold 40,764 shares worth $1,319,029. 9.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of FARM. Victory Capital Management Inc. increased its holdings 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 buying an additional 711 shares during the last quarter. Nationwide Fund Advisors increased its holdings in Farmer Brothers by 6.9% during the second quarter. Nationwide Fund Advisors now owns 5,825 shares of the company’s stock worth $176,000 after buying an additional 378 shares during the last quarter. Citigroup Inc. increased 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 worth $189,000 after purchasing an additional 5,947 shares in the last quarter. Alliancebernstein L.P. increased 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 worth $227,000 after purchasing an additional 1,400 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased 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 worth $227,000 after purchasing an additional 829 shares in the last quarter. Institutional investors and hedge funds own 56.00% 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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