Farmer Brothers (FARM) Upgraded to Sell by BidaskClub
BidaskClub upgraded shares of Farmer Brothers (NASDAQ:FARM) from a strong sell rating to a sell rating in a report published on Tuesday.
Several other analysts also recently weighed in on the company. B. Riley restated a buy rating and issued a $38.50 price target on shares of Farmer Brothers in a research note on Wednesday, November 8th. Zacks Investment Research upgraded Farmer Brothers from a sell rating to a hold rating and set a $35.00 target price on the stock in a research note on Monday, November 6th. Finally, TheStreet upgraded Farmer Brothers from a c+ rating to a b- rating in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $36.75.
Farmer Brothers (NASDAQ FARM) traded up $0.05 during trading on Tuesday, hitting $31.50. The company had a trading volume of 52,998 shares, compared to its average volume of 53,712. The stock has a market cap of $530.56, a P/E ratio of 24.23 and a beta of 0.48. Farmer Brothers has a 52 week low of $28.75 and a 52 week high of $37.35.
In other Farmer Brothers news, CEO Michael H. Keown sold 22,000 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $30.96, for a total transaction of $681,120.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Randy E. Clark bought 3,000 shares of the business’s stock in a transaction on Monday, November 13th. The shares were acquired at an average price of $32.00 per share, for a total transaction of $96,000.00. Following the completion of the purchase, the director now owns 14,316 shares in the company, valued at approximately $458,112. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 6,000 shares of company stock worth $192,590 and have sold 40,764 shares worth $1,319,029. Company insiders own 9.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in Farmer Brothers by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 4,735 shares of the company’s stock valued at $143,000 after purchasing an additional 711 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Farmer Brothers by 6.9% during the 2nd quarter. Nationwide Fund Advisors now owns 5,825 shares of the company’s stock valued at $176,000 after purchasing an additional 378 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Farmer Brothers by 2,043.6% during the 2nd quarter. Citigroup Inc. now owns 6,238 shares of the company’s stock valued at $189,000 after buying an additional 5,947 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Farmer Brothers by 12.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,492 shares of the company’s stock valued at $227,000 after buying an additional 829 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Farmer Brothers by 22.9% during the 2nd quarter. Alliancebernstein L.P. now owns 7,517 shares of the company’s stock valued at $227,000 after buying an additional 1,400 shares during the period. Institutional investors and hedge funds own 55.90% of the company’s stock.
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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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