In a report released today, Kara Anderson from B.Riley FBR maintained a Buy rating on Farmer Brothers Company (FARM), with a price target of $32. The company’s shares opened today at $23.85, close to its 52-week low of $23.02.
Anderson noted:
“Buy-rated Farmer Brothers (FARM, $32 PT) will report F1Q19 (Sep) results after market close on and hold a conference call at 5:00 pm ET, which is accessible by dialing and providing passcode 3566786. For F1Q19 we estimate revenues of $148.8 million, adjusted EBITDA of $8.6 million, and EPS of $(0.10), which is marginally mixed compared to consensus forecasts for $146.4 million, $8.4 million, and ($0.09), respectively. We believe management is squarely focused on accelerating the ramp associated with recent customer wins and expanding customer relationships.”
According to TipRanks.com, Anderson is a 4-star analyst with an average return of 5.0% and a 44.2% success rate. Anderson covers the Services sector, focusing on stocks such as Weight Watchers International, Spark Networks Plc, and PCM Inc.
Currently, the analyst consensus on Farmer Brothers Company is a Moderate Buy with an average price target of $32.
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Based on Farmer Brothers Company’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $133K. In comparison, last year the company had a GAAP net loss of $978K.
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Farmer Brothers Co. engages in the manufacture, wholesale, and distribution of coffee, tea, and culinary products under its own brands to restaurants, hotels, casinos, hospitals, and other food service providers. The company’s products include roasted coffee, liquid coffee, coffee related products, such as coffee filters, sugar and creamers, assorted teas, cappuccino, cocoa, spices, gelatins and puddings, soup, gravy and sauce mixes, pancake and biscuit mixes, and jellies and preserves. Its services include beverage equipment services and menu solutions. The company was founded by Roy E. Farmer in 1912 and is headquartered in Northlake, TX.
