Farmer Bros (NASDAQ:FARM) Raised to Buy at ValuEngine

ValuEngine upgraded shares of Farmer Bros (NASDAQ:FARM) from a hold rating to a buy rating in a report published on Monday, ValuEngine reports.

FARM has been the topic of a number of other reports. B. Riley lowered shares of Farmer Bros from a buy rating to a neutral rating and decreased their price target for the company from $29.00 to $21.00 in a research note on Wednesday, May 8th. Zacks Investment Research raised shares of Farmer Bros from a strong sell rating to a hold rating in a research note on Wednesday, July 10th. BidaskClub lowered shares of Farmer Bros from a sell rating to a strong sell rating in a research note on Wednesday, August 7th. Lake Street Capital decreased their target price on shares of Farmer Bros from $36.00 to $26.00 and set a buy rating on the stock in a research note on Wednesday, May 8th. Finally, Roth Capital reissued a neutral rating and issued a $20.00 target price (down from $28.00) on shares of Farmer Bros in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. Farmer Bros has an average rating of Hold and an average price target of $22.33.

Shares of Farmer Bros stock opened at $13.18 on Monday. Farmer Bros has a twelve month low of $12.42 and a twelve month high of $30.20. The firm’s 50-day moving average price is $16.13 and its 200 day moving average price is $19.67. The company has a quick ratio of 0.93, a current ratio of 2.03 and a debt-to-equity ratio of 0.74.

In other Farmer Bros news, major shareholder Levin Easterly Partners Llc bought 21,684 shares of the firm’s stock in a transaction on Tuesday, May 21st. The shares were acquired at an average cost of $18.81 per share, with a total value of $407,876.04. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders acquired a total of 131,111 shares of company stock worth $2,269,691 over the last three months. Corporate insiders own 10.90% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in shares of Farmer Bros by 415.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,103 shares of the company’s stock valued at $42,000 after buying an additional 1,695 shares during the period. Legal & General Group Plc raised its position in shares of Farmer Bros by 44.3% during the 4th quarter. Legal & General Group Plc now owns 2,365 shares of the company’s stock valued at $55,000 after buying an additional 726 shares during the period. Metropolitan Life Insurance Co. NY raised its position in shares of Farmer Bros by 389.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 3,145 shares of the company’s stock valued at $73,000 after buying an additional 2,502 shares during the period. JPMorgan Chase & Co. raised its position in shares of Farmer Bros by 22.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,772 shares of the company’s stock valued at $60,000 after buying an additional 698 shares during the period. Finally, Bank of America Corp DE raised its position in shares of Farmer Bros by 39.3% during the 4th quarter. Bank of America Corp DE now owns 7,573 shares of the company’s stock valued at $177,000 after buying an additional 2,137 shares during the period. 65.43% of the stock is currently owned by hedge funds and other institutional investors.

Farmer Bros Company Profile

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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