Farmer Brothers Company (NASDAQ:FARM) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

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. “

A number of other brokerages also recently commented on FARM. B. Riley restated a “buy” rating and issued a $37.25 target price on shares of Farmer Brothers in a research note on Wednesday, August 23rd. ValuEngine upgraded Farmer Brothers from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd.

Farmer Brothers (NASDAQ:FARM) traded down 1.40% on Wednesday, hitting $31.60. The stock had a trading volume of 42,700 shares. The company’s 50 day moving average is $31.40 and its 200-day moving average is $32.09. The stock has a market cap of $527.72 million, a P/E ratio of 21.79 and a beta of 0.44. Farmer Brothers has a 12 month low of $28.75 and a 12 month high of $37.55.

Farmer Brothers (NASDAQ:FARM) last issued its earnings results on Thursday, September 28th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. Farmer Brothers had a return on equity of 6.94% and a net margin of 4.51%. The firm had revenue of $133.80 million for the quarter, compared to the consensus estimate of $135.72 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The company’s revenue was down .3% compared to the same quarter last year. Analysts forecast that Farmer Brothers will post $0.67 EPS for the current year.

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In other Farmer Brothers news, major shareholder Carol Farmer Waite sold 350,000 shares of the stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $29.60, for a total transaction of $10,360,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 9.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of FARM. Nationwide Fund Advisors boosted its position in Farmer Brothers by 8.7% during the first quarter. Nationwide Fund Advisors now owns 5,447 shares of the company’s stock worth $193,000 after purchasing an additional 438 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Farmer Brothers by 19.1% in the first quarter. Russell Investments Group Ltd. now owns 49,219 shares of the company’s stock valued at $1,740,000 after acquiring an additional 7,892 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Farmer Brothers by 11.3% in the first quarter. Bank of New York Mellon Corp now owns 95,650 shares of the company’s stock valued at $3,382,000 after acquiring an additional 9,725 shares in the last quarter. Karp Capital Management Corp purchased a new position in shares of Farmer Brothers in the first quarter valued at approximately $341,000. Finally, Trexquant Investment LP purchased a new position in shares of Farmer Brothers in the first quarter valued at approximately $205,000. Institutional investors own 54.20% of the company’s stock.

Farmer Brothers Company Profile

Farmer Bros. Co is a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products. The Company offers private brand and consumer-branded coffee products to small independent restaurants and foodservice operators, and institutional buyers. Its product line includes organic, Direct Trade, Direct Trade Verified Sustainable (DTVS) coffees and other coffees, iced and hot teas, cappuccino, spices, and baking/biscuit mixes.

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