Farmer Bros (NASDAQ:FARM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday, reports.

According to Zacks, “Farmer Bros. Co. is in the business of roasting, packaging and distributing coffee and allied products to restaurants, hotels, hospitals, convenience stores and fast food outlets. The company’s primary raw material is green coffee. Green coffee is purchased through domestic commodity brokers. Coffee is an agricultural commodity, and is subject to fluctuations of both price and supply. “

Separately, B. Riley lowered their price objective on Farmer Bros from $12.00 to $8.00 and set a “neutral” rating for the company in a research report on Tuesday, March 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $10.75.

NASDAQ:FARM traded up $0.81 on Monday, reaching $7.37. The stock had a trading volume of 97,871 shares, compared to its average volume of 89,447. Farmer Bros has a 12-month low of $5.94 and a 12-month high of $17.67. The company has a market cap of $113.72 million, a price-to-earnings ratio of -3.43 and a beta of 1.13. The firm’s fifty day moving average is $8.14 and its two-hundred day moving average is $10.52. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.97 and a quick ratio of 0.99.

Farmer Bros (NASDAQ:FARM) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.04. The business had revenue of $129.14 million for the quarter, compared to the consensus estimate of $136.84 million. Farmer Bros had a negative net margin of 6.43% and a negative return on equity of 12.79%. As a group, research analysts forecast that Farmer Bros will post -1.08 earnings per share for the current fiscal year.

A number of hedge funds have recently modified their holdings of FARM. California Public Employees Retirement System boosted its holdings in shares of Farmer Bros by 29.8% in the 4th quarter. California Public Employees Retirement System now owns 19,994 shares of the company’s stock valued at $301,000 after purchasing an additional 4,594 shares during the last quarter. State Street Corp raised its position in shares of Farmer Bros by 5.1% in the 4th quarter. State Street Corp now owns 213,295 shares of the company’s stock worth $3,212,000 after buying an additional 10,284 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Farmer Bros by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 79,751 shares of the company’s stock valued at $1,202,000 after acquiring an additional 986 shares during the last quarter. Barclays PLC grew its position in Farmer Bros by 100.9% during the fourth quarter. Barclays PLC now owns 10,789 shares of the company’s stock valued at $162,000 after acquiring an additional 5,419 shares during the period. Finally, Mackay Shields LLC acquired a new stake in Farmer Bros during the fourth quarter worth about $453,000. 81.69% of the stock is owned by hedge funds and other institutional investors.

About Farmer Bros

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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