Farmer Bros. Co. (NASDAQ:FARM – Get Rating) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 390,800 shares, a growth of 20.2% from the August 31st total of 325,000 shares. Based on an average daily volume of 54,500 shares, the short-interest ratio is presently 7.2 days. Approximately 2.9% of the shares of the stock are sold short.
Farmer Bros. Price Performance
FARM traded up $0.05 during trading on Friday, reaching $4.69. The stock had a trading volume of 56,537 shares, compared to its average volume of 90,380. The firm has a market capitalization of $88.31 million, a price-to-earnings ratio of -5.27 and a beta of 1.39. The company has a quick ratio of 0.75, a current ratio of 1.88 and a debt-to-equity ratio of 0.98. Farmer Bros. has a 1-year low of $4.33 and a 1-year high of $9.14. The stock has a 50 day moving average of $5.27 and a two-hundred day moving average of $5.55.
Get Farmer Bros. alerts:Farmer Bros. (NASDAQ:FARM – Get Rating) last released its earnings results on Thursday, September 1st. The company reported ($0.21) earnings per share for the quarter, topping analysts' consensus estimates of ($0.33) by $0.12. Farmer Bros. had a negative return on equity of 14.94% and a negative net margin of 3.33%. During the same period in the prior year, the business earned ($0.53) earnings per share. As a group, equities analysts anticipate that Farmer Bros. will post -0.8 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, StockNews.com downgraded Farmer Bros. from a "buy" rating to a "hold" rating in a research report on Wednesday, September 7th.Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of FARM. Azarias Capital Management L.P. increased its holdings in shares of Farmer Bros. by 687.3% in the first quarter. Azarias Capital Management L.P. now owns 695,877 shares of the company's stock valued at $4,955,000 after buying an additional 607,488 shares in the last quarter. Fuller & Thaler Asset Management Inc. bought a new position in shares of Farmer Bros. in the first quarter valued at $2,952,000. Kennedy Capital Management Inc. raised its stake in Farmer Bros. by 43.7% during the 4th quarter. Kennedy Capital Management Inc. now owns 1,030,211 shares of the company's stock valued at $7,675,000 after purchasing an additional 313,045 shares during the period. Penn Capital Management Company LLC raised its stake in Farmer Bros. by 70.5% during the 1st quarter. Penn Capital Management Company LLC now owns 459,110 shares of the company's stock valued at $2,727,000 after purchasing an additional 189,867 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Farmer Bros. by 19.9% during the 4th quarter. Renaissance Technologies LLC now owns 714,200 shares of the company's stock valued at $5,321,000 after purchasing an additional 118,400 shares during the period. Institutional investors own 70.06% of the company's stock.
Farmer Bros. Company Profile
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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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