Shares of Farmer Bros. Co. (NASDAQ:FARM – Get Rating) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.13 and traded as high as $5.41. Farmer Bros. shares last traded at $5.33, with a volume of 25,389 shares changing hands.
Wall Street Analysts Forecast Growth
Separately, StockNews.com initiated coverage on Farmer Bros. in a research report on Wednesday, October 12th. They set a “hold” rating for the company.
Farmer Bros. Price Performance
The company has a 50-day moving average price of $5.22 and a two-hundred day moving average price of $5.13. The company has a debt-to-equity ratio of 1.13, a current ratio of 2.01 and a quick ratio of 0.79. The company has a market cap of $104.20 million, a PE ratio of -4.68 and a beta of 1.47.
Farmer Bros. (NASDAQ:FARM – Get Rating) last issued its earnings results on Thursday, September 1st. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.33) by $0.12. Farmer Bros. had a negative return on equity of 20.20% and a negative net margin of 4.27%. The company had revenue of $122.99 million during the quarter, compared to the consensus estimate of $110.90 million. During the same quarter in the prior year, the business earned ($0.53) earnings per share. Sell-side analysts expect that Farmer Bros. Co. will post -1.73 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Maurice S.J. Moragne sold 13,250 shares of the business’s stock in a transaction dated Friday, November 11th. The stock was sold at an average price of $5.67, for a total value of $75,127.50. Following the transaction, the insider now owns 63,621 shares in the company, valued at $360,731.07. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Farmer Bros. news, insider Maurice S.J. Moragne sold 13,250 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The stock was sold at an average price of $5.67, for a total transaction of $75,127.50. Following the sale, the insider now owns 63,621 shares in the company, valued at $360,731.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley Louis Radoff acquired 50,000 shares of the business’s stock in a transaction on Wednesday, October 5th. The shares were purchased at an average price of $5.05 per share, for a total transaction of $252,500.00. Following the purchase, the insider now directly owns 125,000 shares of the company’s stock, valued at $631,250. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.
Institutional Trading of Farmer Bros.
A number of institutional investors and hedge funds have recently made changes to their positions in FARM. Azarias Capital Management L.P. raised its position in shares of Farmer Bros. by 687.3% during the 1st quarter. Azarias Capital Management L.P. now owns 695,877 shares of the company’s stock worth $4,955,000 after purchasing an additional 607,488 shares during the period. Fuller & Thaler Asset Management Inc. acquired a new stake in shares of Farmer Bros. during the 1st quarter worth approximately $2,952,000. Penn Capital Management Company LLC raised its position in shares of Farmer Bros. by 70.5% during the 1st quarter. Penn Capital Management Company LLC now owns 459,110 shares of the company’s stock worth $2,727,000 after purchasing an additional 189,867 shares during the period. Gamco Investors INC. ET AL raised its position in shares of Farmer Bros. by 15.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 766,290 shares of the company’s stock worth $5,456,000 after purchasing an additional 104,000 shares during the period. Finally, Hodges Capital Management Inc. raised its position in shares of Farmer Bros. by 120.2% during the 2nd quarter. Hodges Capital Management Inc. now owns 153,035 shares of the company’s stock worth $717,000 after purchasing an additional 83,535 shares during the period. 70.06% of the stock is currently owned by institutional investors and hedge funds.
About Farmer Bros.
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Farmer Bros. Co engages in the roasting, wholesale, equipment servicing, and distribution of coffee, tea, and other allied products in the United States. The company offers roast and ground coffee; frozen liquid coffee; flavoured and unflavoured iced and hot teas; culinary products, including spices, pancake and biscuit mixes, gravy and sauce mixes, soup bases, dressings, and syrups and sauces, as well as coffee filters, cups, sugar, and creamers; and other beverages comprising cappuccino, cocoa, granitas, and other blender-based beverages and concentrated and ready-to-drink cold brew and iced coffee.
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