B.Riley FBR Remains a Hold on Farmer Brothers Company (FARM)

By Jason Carr

In a report released today, Kara Anderson from B.Riley FBR maintained a Hold rating on Farmer Brothers Company (FARMResearch Report), with a price target of $10.50. The company’s shares closed last Monday at $14.

Anderson said:

“Neutral-rated Farmer Brothers (FARM, $10.50 PT) reported F4Q19 results that missed the mark, falling below consensus and the company’s guidance that was already revised downward at its last earning’s release. F4Q19 revenue of $142.1 million and adjusted EBITDA of just $3.9 million negatively compared to consensus $144.3 million and $6.4 million, respectively, and the implied F4Q adjusted EBITDA guidance of $6-$8 million. The underperformance was primarily driven by continued softness in FARM’s DSD business which was compounded by another quarter of higher cost of goods.”

According to TipRanks.com, Anderson is ranked #1113 out of 5546 analysts.

Farmer Brothers Company has an analyst consensus of Hold, with a price target consensus of $21.

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The company has a one-year high of $29.50 and a one-year low of $10.65. Currently, Farmer Brothers Company has an average volume of 98.61K.

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