Craig Hallum Begins Coverage on Farmer Bros. (NASDAQ:FARM)

Craig Hallum assumed coverage on shares of Farmer Bros. (NASDAQ:FARM) in a research note published on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $6.00 price target on the stock.

Separately, StockNews.com raised shares of Farmer Bros. from a hold rating to a buy rating in a research report on Sunday, May 19th.

Farmer Bros. Stock Down 3.4 %

Shares of Farmer Bros. stock opened at $2.88 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 0.65. Farmer Bros. has a one year low of $1.80 and a one year high of $4.04. The stock’s 50-day moving average is $3.05 and its 200 day moving average is $3.27. The firm has a market cap of $61.23 million, a price-to-earnings ratio of -1.26 and a beta of 1.77.

Farmer Bros. (NASDAQ:FARM) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01). The business had revenue of $85.36 million during the quarter, compared to the consensus estimate of $88.50 million. Farmer Bros. had a negative net margin of 13.46% and a negative return on equity of 58.82%. During the same period last year, the business posted ($0.57) earnings per share. Equities research analysts anticipate that Farmer Bros. will post -0.66 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Kestra Private Wealth Services LLC boosted its holdings in shares of Farmer Bros. by 169.0% in the 4th quarter. Kestra Private Wealth Services LLC now owns 31,815 shares of the company’s stock worth $97,000 after buying an additional 19,990 shares during the last quarter. Hodges Capital Management Inc. purchased a new stake in shares of Farmer Bros. during the 3rd quarter worth approximately $148,000. Sanders Morris Harris LLC purchased a new position in Farmer Bros. in the first quarter valued at approximately $250,000. Penn Capital Management Company LLC grew its holdings in Farmer Bros. by 1.2% during the fourth quarter. Penn Capital Management Company LLC now owns 869,757 shares of the company’s stock valued at $2,661,000 after purchasing an additional 10,110 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Farmer Bros. by 8.6% in the first quarter. Vanguard Group Inc. now owns 824,528 shares of the company’s stock valued at $2,944,000 after buying an additional 65,277 shares during the period. Institutional investors own 64.48% of the company’s stock.

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.