The stock of Farmer Brothers Co. (NASDAQ:FARM) hit a new 52-week high and has $39.57 target or 9.00% above today’s $36.30 share price. The 6 months bullish chart indicates low risk for the $629.52 million company. The 1-year high was reported on Nov, 25 by Barchart.com. If the $39.57 price target is reached, the company will be worth $56.66M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock decreased 0.14% or $0.05 during the last trading session, hitting $36.3. About 15,585 shares traded hands. Farmer Brothers Co. (NASDAQ:FARM) has risen 19.38% since April 22, 2016 and is uptrending. It has outperformed by 13.97% the S&P500.
Analysts await Farmer Brothers Co. (NASDAQ:FARM) to report earnings on February, 3. They expect $0.32 earnings per share, down 8.57% or $0.03 from last year’s $0.35 per share. FARM’s profit will be $5.55 million for 28.36 P/E if the $0.32 EPS becomes a reality. After $0.21 actual earnings per share reported by Farmer Brothers Co. for the previous quarter, Wall Street now forecasts 52.38% EPS growth.
According to Zacks Investment Research, “Farmer Bros. Co. is in the business of roasting, packaging and distributing coffee and allied products to restaurants, hotels, hospitals, convenience stores and fast food outlets. The company’s primary raw material is green coffee. Green coffee is purchased through domestic commodity brokers. Coffee is an agricultural commodity, and is subject to fluctuations of both price and supply.”
Insitutional Activity: The institutional sentiment decreased to 1.18 in 2016 Q2. Its down 0.38, from 1.56 in 2016Q1. The ratio worsened, as 5 funds sold all Farmer Brothers Co. shares owned while 27 reduced positions. 13 funds bought stakes while 37 increased positions. They now own 7.63 million shares or 13.19% more from 6.74 million shares in 2016Q1.
Boothbay Fund Management Lc has invested 0.22% of its portfolio in Farmer Brothers Co. (NASDAQ:FARM). Metropolitan Life Insurance New York owns 5,938 shares or 0% of their US portfolio. Mutual Of America Mngmt Limited Liability Co accumulated 0.09% or 137,133 shares. Wellington Gru Limited Liability Partnership last reported 226,595 shares in the company. Alliancebernstein Ltd Partnership last reported 39,199 shares in the company. Pacific Glob Mgmt reported 11,413 shares or 0.08% of all its holdings. Blackrock Investment Mngmt Limited Liability holds 30,471 shares or 0% of its portfolio. Hillsdale Mngmt Inc accumulated 11,900 shares or 0.11% of the stock. State Board Of Administration Of Florida Retirement Sys last reported 10,996 shares in the company. Spark Invest Ltd Llc, a New York-based fund reported 9,300 shares. The New Jersey-based Prudential Fincl has invested 0% in Farmer Brothers Co. (NASDAQ:FARM). Teton Advsrs owns 195,913 shares or 0.57% of their US portfolio. Northern reported 110,901 shares or 0% of all its holdings. Moreover, Tiaa Cref Investment Mgmt Lc has 0% invested in Farmer Brothers Co. (NASDAQ:FARM) for 46,667 shares. Dimensional Fund Advisors Limited Partnership has 0.01% invested in the company for 539,246 shares.
Insider Transactions: Since June 10, 2016, the stock had 0 insider purchases, and 2 insider sales for $752,801 net activity. KEOWN MICHAEL H sold 12,000 shares worth $391,134.
More notable recent Farmer Brothers Co. (NASDAQ:FARM) news were published by: Prnewswire.com which released: “Farmer Bros. Co. Issues Statement Regarding False Assertions by the Waite Group” on November 10, 2016, also Prnewswire.com with their article: “Farmer Bros. Co. Comments on Carol Farmer Waite Stockholder Group” published on September 29, 2016, Prnewswire.com published: “Farmer Bros. Co. Receives Support from Richard Farmer” on October 04, 2016. More interesting news about Farmer Brothers Co. (NASDAQ:FARM) were released by: Star-Telegram.com and their article: “Farmer Brothers feud heats up as shareholder meeting nears” published on November 13, 2016 as well as Prnewswire.com‘s news article titled: “Founding Family Members Form Save Farmer Bros. Group to Drive Meaningful Change” with publication date: August 29, 2016.
FARM Company Profile
Farmer Bros. Co., incorporated on February 17, 2004, is a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products. The Firm offers private brand and consumer-branded coffee products to small independent restaurants and foodservice operators, and institutional buyers, such as restaurant and convenience store chains, hotels, casinos, hospitals, and gourmet coffee houses, as well as grocery chains. The Company’s 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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