Farmer Bros. (NASDAQ:FARM) Cut to Hold at StockNews.com

StockNews.com cut shares of Farmer Bros. (NASDAQ:FARM) from a buy rating to a hold rating in a research note released on Monday morning.

Separately, Craig Hallum initiated coverage on Farmer Bros. in a research note on Monday, June 17th. They issued a buy rating and a $6.00 price target on the stock.

Farmer Bros. Stock Performance

Shares of FARM opened at $2.13 on Monday. Farmer Bros. has a 1 year low of $2.10 and a 1 year high of $4.04. The company’s 50 day simple moving average is $2.66 and its 200 day simple moving average is $2.96. The company has a market capitalization of $45.29 million, a price-to-earnings ratio of -0.93 and a beta of 1.79. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.65 and a current ratio of 1.42.

Farmer Bros. (NASDAQ:FARM) last issued its quarterly earnings results on Thursday, September 12th. The company reported ($0.22) earnings per share for the quarter, meeting the consensus estimate of ($0.22). Farmer Bros. had a negative return on equity of 58.82% and a negative net margin of 13.46%. The company had revenue of $84.40 million during the quarter, compared to the consensus estimate of $81.30 million. During the same period in the previous year, the firm posted ($0.84) EPS. On average, sell-side analysts predict that Farmer Bros. will post -0.66 EPS for the current year.

Institutional Trading of Farmer Bros.

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Farmer Bros. by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 824,528 shares of the company’s stock worth $2,944,000 after purchasing an additional 65,277 shares during the period. Renaissance Technologies LLC raised its holdings in Farmer Bros. by 1.4% in the second quarter. Renaissance Technologies LLC now owns 559,500 shares of the company’s stock valued at $1,499,000 after buying an additional 7,600 shares during the period. Dimensional Fund Advisors LP lifted 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 in the last quarter. Finally, Sanders Morris Harris LLC grew its stake in Farmer Bros. by 42.9% during the second quarter. Sanders Morris Harris LLC now owns 100,283 shares of the company’s stock worth $269,000 after buying an additional 30,122 shares during the period. 64.48% of the stock is currently owned by institutional investors and hedge funds.

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.