Farmer Brothers (NASDAQ:FARM) Announces Quarterly Earnings Results

Farmer Brothers (NASDAQ:FARM) announced its quarterly earnings results on Friday. The company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.08), Zacks reports. The firm had revenue of $88.92 million for the quarter, compared to analyst estimates of $90.47 million. Farmer Brothers had a negative net margin of 4.00% and a negative return on equity of 13.80%.

Farmer Brothers Stock Performance

Shares of FARM stock traded down $0.06 during trading on Friday, reaching $1.54. 320,706 shares of the company’s stock traded hands, compared to its average volume of 72,841. The firm’s 50-day moving average is $1.56 and its 200 day moving average is $1.68. The company has a current ratio of 1.24, a quick ratio of 0.46 and a debt-to-equity ratio of 0.46. Farmer Brothers has a 1 year low of $1.34 and a 1 year high of $3.29. The company has a market capitalization of $33.26 million, a P/E ratio of -2.44 and a beta of 1.27.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Gabelli Funds LLC boosted its position in shares of Farmer Brothers by 2.3% during the second quarter. Gabelli Funds LLC now owns 272,500 shares of the company’s stock valued at $373,000 after buying an additional 6,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Farmer Brothers by 253.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 68,833 shares of the company’s stock worth $153,000 after buying an additional 49,374 shares during the period. XTX Topco Ltd lifted its position in shares of Farmer Brothers by 210.2% in the 2nd quarter. XTX Topco Ltd now owns 42,297 shares of the company’s stock worth $58,000 after purchasing an additional 28,661 shares during the period. Finally, Jane Street Group LLC raised its holdings in Farmer Brothers by 152.2% in the first quarter. Jane Street Group LLC now owns 41,129 shares of the company’s stock worth $91,000 after purchasing an additional 24,820 shares in the last quarter. Hedge funds and other institutional investors own 64.48% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FARM shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Farmer Brothers in a report on Monday, December 29th. Roth Mkm decreased their price objective on Farmer Brothers from $3.50 to $3.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Finally, Zacks Research raised Farmer Brothers from a “strong sell” rating to a “hold” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Farmer Brothers currently has an average rating of “Hold” and an average target price of $2.75.

Farmer Brothers Company Profile

Farmer Brothers Company (NASDAQ: FARM) is a specialty coffee roaster and distributor that serves the foodservice, hospitality and office coffee markets across the United States. The company produces and delivers coffee, tea, single-serve products and beverage equipment, supporting its customers with supply chain solutions, equipment maintenance and barista training services. Its operations are organized to serve commercial accounts ranging from national restaurant chains and convenience stores to independent coffee shops and corporate offices.

Founded in 1912 in Texas, Farmer Brothers has grown from a regional roaster into a national supplier with a network of manufacturing and distribution facilities.