Farmer Bros. (NASDAQ:FARM) Share Price Passes Above 200-Day Moving Average of $2.55

Shares of Farmer Bros. Co. (NASDAQ:FARM) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.55 and traded as high as $2.64. Farmer Bros. shares last traded at $2.62, with a volume of 42,238 shares.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Farmer Bros. in a research note on Thursday, October 5th. They issued a “hold” rating for the company.

Farmer Bros. Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.37 and a quick ratio of 0.66. The stock has a market capitalization of $54.37 million, a P/E ratio of -0.71 and a beta of 1.63. The business’s 50 day moving average price is $2.52 and its 200 day moving average price is $2.55.

Farmer Bros. (NASDAQ:FARM) last posted its quarterly earnings data on Thursday, November 9th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.23. The company had revenue of $81.89 million for the quarter, compared to the consensus estimate of $85.00 million. Farmer Bros. had a negative net margin of 17.23% and a negative return on equity of 74.24%. During the same quarter last year, the firm posted ($0.39) earnings per share. Sell-side analysts forecast that Farmer Bros. Co. will post -0.84 EPS for the current year.

Insider Buying and Selling

In other Farmer Bros. news, Director Bradley Louis Radoff acquired 80,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were bought at an average price of $2.58 per share, with a total value of $206,400.00. Following the completion of the acquisition, the director now owns 304,794 shares in the company, valued at approximately $786,368.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Farmer Bros.

Several large investors have recently added to or reduced their stakes in the company. Hodges Capital Management Inc. purchased a new position in Farmer Bros. during the third quarter valued at approximately $148,000. Kestra Private Wealth Services LLC purchased a new position in Farmer Bros. during the third quarter valued at approximately $31,000. Global Wealth Management Investment Advisory Inc. purchased a new position in Farmer Bros. during the third quarter valued at approximately $31,000. AE Wealth Management LLC purchased a new position in Farmer Bros. during the third quarter valued at approximately $31,000. Finally, Wells Fargo & Company MN lifted its holdings in Farmer Bros. by 31.3% during the second quarter. Wells Fargo & Company MN now owns 93,719 shares of the company’s stock valued at $260,000 after purchasing an additional 22,331 shares in the last quarter. Hedge funds and other institutional investors own 63.25% of the company’s stock.

About Farmer Bros.

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.