Fintel reports that on June 17, 2024, Craig-Hallum initiated coverage of Farmer Bros. (NasdaqGS:FARM) with a Buy recommendation.
Analyst Price Forecast Suggests 106.06% Upside
As of May 8, 2024, the average one-year price target for Farmer Bros. is 6.12. The forecasts range from a low of 6.06 to a high of $6.30. The average price target represents an increase of 106.06% from its latest reported closing price of 2.97.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Farmer Bros. is 557MM, an increase of 62.81%. The projected annual non-GAAP EPS is -0.45.
What is the Fund Sentiment?
There are 90 funds or institutions reporting positions in Farmer Bros.. This is an decrease of 3 owner(s) or 3.23% in the last quarter. Average portfolio weight of all funds dedicated to FARM is 0.16%, an increase of 47.06%. Total shares owned by institutions increased in the last three months by 8.90% to 11,965K shares. 
The put/call ratio of FARM is 4.96, indicating a bearish outlook.
What are Other Shareholders Doing?
22nw holds 1,956K shares representing 9.20% ownership of the company. No change in the last quarter.
JCP Investment Management holds 993K shares representing 4.67% ownership of the company. No change in the last quarter.
Penn Capital Management holds 887K shares representing 4.17% ownership of the company. In its prior filing, the firm reported owning 870K shares , representing an increase of 1.93%. The firm increased its portfolio allocation in FARM by 15.34% over the last quarter.
Elequin Capital holds 887K shares representing 4.17% ownership of the company.
Gamco Investors, Inc. Et Al holds 779K shares representing 3.66% ownership of the company. No change in the last quarter.
Farmer Bros. Background Information
(This description is provided by the company.)
Founded in 1912, Farmer Bros. Co. is a national coffee roaster, wholesaler, equipment servicer, and distributor of coffee, tea, and culinary products. The Company's product lines include organic, Direct Trade, and sustainably produced coffee. With a robust line of coffee, hot and iced teas, cappuccino mixes, spices, and baking/biscuit mixes, the Company delivers extensive beverage planning services and culinary products to its U.S.-based customers. The Company serves a wide variety of customers, from small independent restaurants and foodservice operators to large institutional buyers like restaurant, department and convenience store chains, hotels, casinos, healthcare facilities, and gourmet coffee houses, as well as grocery chains with private brand coffee and consumer branded coffee and tea products, and foodservice distributors.
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