Farmer Brothers (FARM) Reaches New 52-Week High and Low at $23.60

Shares of Farmer Brothers (NASDAQ:FARM) reached a new 52-week high and low during mid-day trading on Tuesday . The stock traded as low as $23.60 and last traded at $24.15, with a volume of 728 shares changing hands. The stock had previously closed at $23.70.

Several research firms recently issued reports on FARM. BidaskClub downgraded Farmer Brothers from a “sell” rating to a “strong sell” rating in a research note on Saturday. Zacks Investment Research downgraded Farmer Brothers from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. ValuEngine downgraded Farmer Brothers from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. B. Riley reduced their price target on Farmer Brothers from $38.50 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, May 9th. Finally, Lake Street Capital restated a “buy” rating and issued a $36.00 price target (down from $40.00) on shares of Farmer Brothers in a research note on Wednesday, May 9th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Farmer Brothers presently has an average rating of “Hold” and a consensus price target of $34.25.

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The firm has a market cap of $414.74 million, a price-to-earnings ratio of 144.12 and a beta of 0.48.

Farmer Brothers (NASDAQ:FARM) last announced its quarterly earnings data on Tuesday, May 8th. The company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.40). The company had revenue of $157.93 million during the quarter, compared to analyst estimates of $161.46 million. Farmer Brothers had a negative net margin of 3.82% and a positive return on equity of 1.41%. Farmer Brothers’s revenue was up 14.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.17 earnings per share. equities research analysts predict that Farmer Brothers will post -1.18 EPS for the current fiscal year.

In other Farmer Brothers news, Director Christopher P. Mottern purchased 1,500 shares of the stock in a transaction dated Wednesday, February 14th. The stock was bought at an average price of $30.26 per share, with a total value of $45,390.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jeanne Farmer Grossman sold 20,000 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $31.80, for a total value of $636,000.00. Following the transaction, the director now directly owns 18,874 shares of the company’s stock, valued at approximately $600,193.20. The disclosure for this sale can be found here. 9.30% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of FARM. Wells Fargo & Company MN raised its holdings in shares of Farmer Brothers by 48.5% during the 3rd quarter. Wells Fargo & Company MN now owns 13,670 shares of the company’s stock worth $449,000 after buying an additional 4,466 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Farmer Brothers by 5.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 42,563 shares of the company’s stock worth $1,399,000 after buying an additional 2,262 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Farmer Brothers by 10.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 807,678 shares of the company’s stock worth $26,531,000 after buying an additional 75,024 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Farmer Brothers by 2.1% during the 4th quarter. BlackRock Inc. now owns 579,290 shares of the company’s stock worth $18,627,000 after buying an additional 12,046 shares in the last quarter. Finally, Royce & Associates LP raised its holdings in shares of Farmer Brothers by 10.9% during the 4th quarter. Royce & Associates LP now owns 320,406 shares of the company’s stock worth $10,301,000 after buying an additional 31,529 shares in the last quarter. 57.30% of the stock is owned by institutional investors.

Farmer Brothers Company Profile

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 iced coffee.