StockNews.com cut shares of Farmer Bros. (NASDAQ:FARM – Free Report) from a buy rating to a hold rating in a research report report published on Saturday.
Farmer Bros. Price Performance
Shares of NASDAQ:FARM traded down $0.10 on Friday, reaching $3.21. 64,933 shares of the company were exchanged, compared to its average volume of 38,220. The company has a current ratio of 1.42, a quick ratio of 0.67 and a debt-to-equity ratio of 0.54. Farmer Bros. has a 1-year low of $1.75 and a 1-year high of $4.04. The company has a 50-day moving average of $3.36 and a 200-day moving average of $3.21. The firm has a market cap of $67.63 million, a price-to-earnings ratio of -1.40 and a beta of 1.77.
Farmer Bros. (NASDAQ:FARM – Get Free Report) last issued its earnings results on Thursday, May 9th. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The company had revenue of $85.36 million during the quarter, compared to analysts’ expectations of $88.50 million. Farmer Bros. had a negative net margin of 13.46% and a negative return on equity of 60.09%. During the same period last year, the business posted ($0.57) earnings per share. Equities analysts forecast that Farmer Bros. will post -0.74 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the company. Kestra Private Wealth Services LLC acquired a new stake in Farmer Bros. in the 3rd quarter valued at about $31,000. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of Farmer Bros. during the 3rd quarter worth approximately $31,000. Hodges Capital Management Inc. acquired a new stake in Farmer Bros. during the 3rd quarter valued at $148,000. Sanders Morris Harris LLC acquired a new position in shares of Farmer Bros. in the first quarter worth $250,000. Finally, Penn Capital Management Company LLC lifted its position in shares of Farmer Bros. by 1.2% in the fourth quarter. Penn Capital Management Company LLC now owns 869,757 shares of the company’s stock valued at $2,661,000 after acquiring an additional 10,110 shares in the last quarter. Hedge funds and other institutional investors own 64.48% of the company’s stock.
About Farmer Bros.
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.