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

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

Farmer Bros. Price Performance

FARM opened at $1.73 on Friday. The company’s 50-day simple moving average is $1.87 and its two-hundred day simple moving average is $2.16. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.58 and a current ratio of 1.32. The stock has a market capitalization of $36.94 million, a P/E ratio of -4.81 and a beta of 1.80. Farmer Bros. has a 52-week low of $1.60 and a 52-week high of $3.86.

Farmer Bros. (NASDAQ:FARM) last announced 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 for the quarter, compared to analysts’ expectations of $84.80 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. As a group, analysts predict that Farmer Bros. will post -0.62 EPS for the current year.

Institutional Trading of Farmer Bros.

Several large investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC boosted its stake in shares of Farmer Bros. by 1.4% during 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. Dimensional Fund Advisors LP raised its holdings in 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 purchasing an additional 17,327 shares during the period. Geode Capital Management LLC lifted its position in Farmer Bros. by 5.8% during the third quarter. Geode Capital Management LLC now owns 209,288 shares of the company’s stock valued at $414,000 after purchasing an additional 11,390 shares in the last quarter. Sanders Morris Harris LLC grew its holdings in Farmer Bros. by 53.8% during the third 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 period. Finally, Global Wealth Management Investment Advisory Inc. increased its position in Farmer Bros. by 58.3% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 19,000 shares of the company’s stock worth $38,000 after buying an additional 7,000 shares in the last quarter. 64.48% of the stock is currently 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.