Farmer Bros Co (NASDAQ:FARM) was down 15.9% on Wednesday after the company announced weaker than expected quarterly earnings. The stock traded as low as $10.26 and last traded at $11.77, approximately 715,629 shares were traded during trading. An increase of 604% from the average daily volume of 101,583 shares. The stock had previously closed at $14.00.

The company reported ($0.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.37). The business had revenue of $142.05 million for the quarter, compared to analyst estimates of $146.90 million. Farmer Bros had a negative return on equity of 3.34% and a negative net margin of 10.72%.

FARM has been the subject of a number of research reports. B. Riley dropped their target price on shares of Farmer Bros from $21.00 to $10.50 and set a “neutral” rating for the company in a report on Wednesday. Lake Street Capital dropped their price objective on shares of Farmer Bros from $26.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Zacks Investment Research upgraded shares of Farmer Bros from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 10th. BidaskClub cut shares of Farmer Bros from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 7th. Finally, ValuEngine upgraded shares of Farmer Bros from a “hold” rating to a “buy” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Farmer Bros currently has an average rating of “Hold” and an average price target of $15.17.

In other news, major shareholder Levin Easterly Partners Llc acquired 2,892 shares of Farmer Bros stock in a transaction dated Monday, June 17th. The shares were bought at an average cost of $18.22 per share, with a total value of $52,692.24. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders bought a total of 111,260 shares of company stock worth $1,878,262 in the last 90 days. Corporate insiders own 10.90% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in shares of Farmer Bros by 39.3% in the 4th quarter. Bank of America Corp DE now owns 7,573 shares of the company’s stock worth $177,000 after acquiring an additional 2,137 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Farmer Bros in the 4th quarter valued at approximately $225,000. Dimensional Fund Advisors LP lifted its stake in shares of Farmer Bros by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 929,387 shares of the company’s stock valued at $21,682,000 after purchasing an additional 10,015 shares during the period. Deutsche Bank AG boosted its position in shares of Farmer Bros by 38.0% during the fourth quarter. Deutsche Bank AG now owns 37,083 shares of the company’s stock valued at $863,000 after purchasing an additional 10,209 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in shares of Farmer Bros by 415.4% during the first quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the company’s stock valued at $42,000 after purchasing an additional 1,695 shares in the last quarter. Institutional investors and hedge funds own 84.07% of the company’s stock.

The company has a market capitalization of $224.25 million, a PE ratio of 90.54, a PEG ratio of 7.83 and a beta of 0.13. The company has a 50 day moving average of $13.80 and a two-hundred day moving average of $18.22. The company has a debt-to-equity ratio of 0.74, a current ratio of 2.03 and a quick ratio of 0.93.

About Farmer Bros (NASDAQ:FARM)

Farmer Bros. Co engages in the manufacture, wholesale, and distribution of coffee, tea, and culinary products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavored and unflavored iced and hot teas; culinary products, including gelatins and puddings, soup bases, dressings, gravy and sauce mixes, pancake and biscuit mixes, jellies and preserves, and coffee-related products, such as coffee filters, sugar, and creamers; spices; and other beverages comprising cappuccino, cocoa, granitas, and ready-to-drink cold brew and iced coffee.

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