Farmer Brothers (NASDAQ:FARM) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Farmer Brothers (NASDAQ:FARM) from a hold rating to a strong sell rating in a research report sent to investors on Thursday,Zacks.com reports.

FARM has been the subject of a number of other research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Farmer Brothers in a research note on Tuesday, October 14th. Craig Hallum cut shares of Farmer Brothers from a “buy” rating to a “hold” rating and set a $2.50 price objective for the company. in a research report on Friday, September 12th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Sell” and a consensus price target of $2.50.

Farmer Brothers Trading Down 15.7%

NASDAQ:FARM traded down $0.27 on Thursday, reaching $1.45. 365,089 shares of the company’s stock were exchanged, compared to its average volume of 320,129. The firm has a market capitalization of $31.32 million, a price-to-earnings ratio of -2.13 and a beta of 1.35. Farmer Brothers has a 52-week low of $1.34 and a 52-week high of $3.29. The company has a quick ratio of 0.50, a current ratio of 1.20 and a debt-to-equity ratio of 0.33. The business has a fifty day moving average of $1.81 and a 200-day moving average of $1.68.

Farmer Brothers (NASDAQ:FARM) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.10). The business had revenue of $81.60 million during the quarter, compared to analyst estimates of $86.26 million. Farmer Brothers had a negative net margin of 4.24% and a negative return on equity of 16.12%. As a group, analysts expect that Farmer Brothers will post -0.37 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Gabelli Funds LLC lifted its position in Farmer Brothers by 2.3% in the second quarter. Gabelli Funds LLC now owns 272,500 shares of the company’s stock valued at $373,000 after acquiring an additional 6,000 shares during the last quarter. Virtu Financial LLC grew its holdings in shares of Farmer Brothers by 143.2% during the first quarter. Virtu Financial LLC now owns 31,756 shares of the company’s stock worth $70,000 after purchasing an additional 18,699 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in shares of Farmer Brothers during the second quarter worth about $26,000. Jane Street Group LLC lifted its holdings in shares of Farmer Brothers by 152.2% in the 1st quarter. Jane Street Group LLC now owns 41,129 shares of the company’s stock valued at $91,000 after purchasing an additional 24,820 shares during the last quarter. Finally, Game Plan Financial Advisors LLC purchased a new stake in shares of Farmer Brothers in the 2nd quarter valued at about $34,000. 64.48% of the stock is owned by hedge funds and other institutional investors.

About Farmer Brothers

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.