StockNews.com Initiates Coverage on Farmer Bros. (NASDAQ:FARM)

Equities researchers at StockNews.com initiated coverage on shares of Farmer Bros. (NASDAQ:FARM) in a report issued on Saturday. The brokerage set a “hold” rating on the stock.

Farmer Bros. Stock Performance

NASDAQ FARM opened at $1.73 on Friday. Farmer Bros. has a 1 year low of $1.60 and a 1 year high of $3.86. The company has a current ratio of 1.32, a quick ratio of 0.58 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $36.94 million, a price-to-earnings ratio of -4.81 and a beta of 1.80. The firm’s 50 day simple moving average is $1.86 and its 200 day simple moving average is $2.15.

Farmer Bros. (NASDAQ:FARM) last issued its earnings results on Thursday, November 7th. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.01). Farmer Bros. had a negative net margin of 2.20% and a negative return on equity of 35.41%. The company had revenue of $85.07 million during the quarter, compared to analyst estimates of $84.80 million. During the same quarter in the prior year, the business earned ($0.06) EPS. As a group, research analysts expect that Farmer Bros. will post -0.62 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Farmer Bros.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in shares of Farmer Bros. by 4.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 367,919 shares of the company’s stock worth $986,000 after acquiring an additional 17,327 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Farmer Bros. by 1.4% in the 2nd quarter. Renaissance Technologies LLC now owns 559,500 shares of the company’s stock worth $1,499,000 after acquiring an additional 7,600 shares during the last quarter. Sanders Morris Harris LLC raised its holdings in shares of Farmer Bros. by 53.8% in the 3rd quarter. Sanders Morris Harris LLC now owns 154,283 shares of the company’s stock worth $305,000 after acquiring an additional 54,000 shares during the last quarter. PFG Investments LLC acquired a new stake in shares of Farmer Bros. in the 3rd quarter worth about $33,000. Finally, Global Wealth Management Investment Advisory Inc. raised its holdings in shares of Farmer Bros. by 58.3% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 19,000 shares of the company’s stock worth $38,000 after acquiring an additional 7,000 shares during the last quarter. 64.48% of the stock is owned by institutional investors.

Farmer Bros. Company Profile

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.