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

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

Farmer Bros. Price Performance

FARM opened at $3.00 on Tuesday. The business has a fifty day moving average of $1.96 and a 200 day moving average of $2.10. The stock has a market cap of $64.06 million, a P/E ratio of -6.25 and a beta of 1.78. The company has a quick ratio of 0.60, a current ratio of 1.28 and a debt-to-equity ratio of 0.56. Farmer Bros. has a 52-week low of $1.60 and a 52-week high of $3.86.

Farmer Bros. (NASDAQ:FARM) last released its earnings results on Thursday, February 6th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.18. Farmer Bros. had a negative return on equity of 27.45% and a negative net margin of 2.92%. As a group, sell-side analysts anticipate that Farmer Bros. will post -0.37 EPS for the current year.

Hedge Funds Weigh In On Farmer Bros.

A number of hedge funds have recently added to or reduced their stakes in FARM. PFG Investments LLC purchased a new stake in shares of Farmer Bros. in the third quarter valued at approximately $33,000. Global Wealth Management Investment Advisory Inc. raised its position in 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 purchasing an additional 7,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Farmer Bros. by 5.8% in the 3rd 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 period. Prudential Financial Inc. bought a new position in shares of Farmer Bros. during the 4th quarter worth $48,000. Finally, Renaissance Technologies LLC increased its stake in shares of Farmer Bros. by 7.2% during the fourth quarter. Renaissance Technologies LLC now owns 594,800 shares of the company’s stock valued at $1,071,000 after buying an additional 40,200 shares during the period. 64.48% of the stock is currently owned by institutional investors.

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.