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FARM

Farmer Bros.

$15.18

-0.22 (-1.43%)

08:43
12/02/19
12/02
08:43
12/02/19
08:43

Farmer Bros. says Glass Lewis recommends stockholders vote for director nominees

Farmer Bros. announced that Glass Lewis & Co. recommends that stockholders vote "FOR" all three of the Company's director nominees - Charles Marcy, Deverl Maserang and Christopher Mottern - on the WHITE proxy card in connection with the Company's 2019 Annual Meeting of Stockholders to be held on December 10, 2019. Glass Lewis is the second leading independent proxy advisory firm to recommend "FOR" Farmer Brothers' nominees, following a recommendation issued by Institutional Shareholder Serviceson November 22, 2019, as previously announced. In its November 27, 2019 report, Glass Lewis noted: "Having reviewed the arguments presented by the Grossman Group as well as the incumbent board's response, we do not believe the Dissident has made a compelling case that electing its nominees is warranted or in the best interests of all shareholders at this time...With respect to board composition, we find that the incumbent directors have appropriate qualifications and expertise to oversee the Company and that the board is sufficiently independent. In particular, we believe Management Nominees Marcy and Mottern continue to be well qualified to serve on the board, with executive experience in the food and beverage industry as well as relevant CEO experience and additional public company board experience...we note that, in addition to the executive changes...the board has been refreshed with four new directors appointed in the last two years. In this case, we do not believe there is a clear case that further change to the composition of the board is warranted at this time." Farmer Brothers reminds stockholders that every vote is important, no matter how many or how few shares it represents. The Company urges all stockholders to use the WHITE proxy card to vote "FOR" the Company's director nominees.

  • 10

    Dec

FARM Farmer Bros.
$15.18

-0.22 (-1.43%)

05/08/19
LSCM
05/08/19
NO CHANGE
Target $26
LSCM
Buy
Farmer Bros. price target lowered to $26 from $36 at Lake Street
Lake Street analyst Chris Krueger lowered his price target for Farmer Bros. to $26 from $36 saying the company's fiscal Q3 results were well below expectations. The analyst, however, continues to believe Farmer Bros. is in the "early innings of a significant growth opportunity." He keeps a Buy rating on the shares.
05/08/19
05/08/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Mylan (MYL) downgraded to Market Perform from Outperform at Wells Fargo with analyst David Maris saying Mylan reported "disappointing" results which missed consensus on several key metrics including revenue and revenue by segment. 2. Inogen (INGN) downgraded to Neutral from Overweight at JPMorgan with analyst Robert Marcus saying the company's in-line Q1 results were overshadowed by a $25M reduction to guidance. 3. Fortive (FTV) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Joshua Pokrzywinski citing the stock's valuation after a 29% year-to-date advance as well as the sector valuation of "high quality industrials". 4. Farmer Bros. (FARM) downgraded to Neutral from Buy at Roth Capital with analyst Gerry Sweeney saying the company's results were hurt by significant operating issues and Mike Keown stepped down as CEO. 5. 2U (TWOU) downgraded to Neutral from Outperform at Credit Suisse with analyst Brad Zelnick noting the company reported Q1 and lowered its fiscal year revenue guidance, primarily accounting for schools tightening their admissions. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/11/19
LSCM
09/11/19
NO CHANGE
Target $15
LSCM
Buy
Farmer Bros. price target lowered to $15 from $26 at Lake Street
Lake Street analyst Chris Krueger lowered his price target for Farmer Bros. to $15 from $26 saying the company's fiscal Q4 results were "disappointing." The analyst sees the company's soft sales trends continuing in the near-term and cut his fiscal 2020 adjusted EBITDA estimate by 44%. However, new customers are gradually coming on board, which should eventually boost sales growth and margins, Krueger tells investors in a research note. He keeps a Buy rating on Farmer Bros.
09/12/19
ROTH
09/12/19
NO CHANGE
Target $11
ROTH
Neutral
Farmer Bros. price target lowered to $11 from $20 at Roth Capital
Roth Capital analyst Gerry Sweeney lowered his price target for Farmer Bros. to $11 from $20 as the company's Q4 results highlight considerable operational headwinds, which it began to address with identification of five areas of key improvement. The analyst reiterates a Neutral rating on the shares.

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