Farmer Bros. (NASDAQ:FARM) Research Coverage Started at StockNews.com

StockNews.com initiated coverage on shares of Farmer Bros. (NASDAQ:FARM) in a report issued on Saturday morning. The brokerage issued a hold rating on the stock.

Farmer Bros. Stock Up 4.6 %

Shares of NASDAQ FARM opened at $1.81 on Friday. Farmer Bros. has a 52-week low of $1.60 and a 52-week high of $3.86. The business’s 50 day moving average is $1.86 and its two-hundred day moving average is $2.14. The company has a quick ratio of 0.58, a current ratio of 1.32 and a debt-to-equity ratio of 0.57. The firm has a market cap of $38.64 million, a price-to-earnings ratio of -5.03 and a beta of 1.78.

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

Hedge Funds Weigh In On Farmer Bros.

Several large investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Farmer Bros. by 5.8% in the third quarter. Geode Capital Management LLC now owns 209,288 shares of the company’s stock worth $414,000 after buying an additional 11,390 shares during the last quarter. Global Wealth Management Investment Advisory Inc. boosted its stake in shares of Farmer Bros. by 58.3% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 19,000 shares of the company’s stock valued at $38,000 after buying an additional 7,000 shares during the period. PFG Investments LLC acquired a new stake in shares of Farmer Bros. during the 3rd quarter valued at $33,000. Sanders Morris Harris LLC lifted its stake 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 valued at $305,000 after purchasing an additional 54,000 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake 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 valued at $1,499,000 after purchasing an additional 7,600 shares during the last quarter. 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.