Intrinsic value of Farmer Bros. - FARM

Previous Close

$24.24

  Intrinsic Value

$2.74

stock screener

  Rating & Target

str. sell

-89%

Previous close

$24.24

 
Intrinsic value

$2.74

 
Up/down potential

-89%

 
Rating

str. sell

We calculate the intrinsic value of FARM stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 0.4

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  14.30
  13.37
  12.53
  11.78
  11.10
  10.49
  9.94
  9.45
  9.00
  8.60
  8.24
  7.92
  7.63
  7.36
  7.13
  6.91
  6.72
  6.55
  6.40
  6.26
  6.13
  6.02
  5.92
  5.82
  5.74
  5.67
  5.60
  5.54
  5.49
  5.44
Revenue, $m
  619
  702
  790
  883
  981
  1,084
  1,191
  1,304
  1,421
  1,543
  1,671
  1,803
  1,940
  2,083
  2,232
  2,386
  2,547
  2,713
  2,887
  3,068
  3,256
  3,452
  3,656
  3,869
  4,091
  4,323
  4,565
  4,818
  5,082
  5,358
Variable operating expenses, $m
  609
  690
  776
  868
  964
  1,064
  1,170
  1,280
  1,395
  1,515
  1,636
  1,766
  1,901
  2,041
  2,186
  2,337
  2,494
  2,658
  2,828
  3,005
  3,189
  3,381
  3,581
  3,789
  4,007
  4,234
  4,471
  4,719
  4,978
  5,249
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  609
  690
  776
  868
  964
  1,064
  1,170
  1,280
  1,395
  1,515
  1,636
  1,766
  1,901
  2,041
  2,186
  2,337
  2,494
  2,658
  2,828
  3,005
  3,189
  3,381
  3,581
  3,789
  4,007
  4,234
  4,471
  4,719
  4,978
  5,249
Operating income, $m
  10
  11
  13
  15
  17
  19
  21
  24
  26
  29
  34
  37
  40
  43
  46
  49
  52
  56
  59
  63
  67
  71
  75
  79
  84
  88
  93
  99
  104
  110
EBITDA, $m
  37
  42
  48
  53
  59
  66
  72
  79
  86
  93
  101
  109
  117
  126
  135
  144
  154
  164
  175
  185
  197
  209
  221
  234
  247
  261
  276
  291
  307
  324
Interest expense (income), $m
  2
  4
  8
  11
  15
  20
  24
  29
  34
  39
  44
  50
  56
  62
  68
  75
  82
  89
  96
  104
  112
  120
  128
  137
  147
  157
  167
  177
  188
  200
  212
Earnings before tax, $m
  6
  4
  2
  0
  -3
  -5
  -7
  -10
  -13
  -16
  -16
  -19
  -22
  -26
  -29
  -33
  -36
  -40
  -45
  -49
  -53
  -58
  -63
  -68
  -73
  -78
  -84
  -90
  -96
  -103
Tax expense, $m
  2
  1
  1
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Net income, $m
  4
  3
  1
  0
  -3
  -5
  -7
  -10
  -13
  -16
  -16
  -19
  -22
  -26
  -29
  -33
  -36
  -40
  -45
  -49
  -53
  -58
  -63
  -68
  -73
  -78
  -84
  -90
  -96
  -103

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  449
  508
  572
  640
  711
  785
  863
  945
  1,030
  1,118
  1,211
  1,306
  1,406
  1,510
  1,617
  1,729
  1,845
  1,966
  2,092
  2,223
  2,359
  2,501
  2,649
  2,803
  2,964
  3,132
  3,308
  3,491
  3,683
  3,883
Adjusted assets (=assets-cash), $m
  449
  508
  572
  640
  711
  785
  863
  945
  1,030
  1,118
  1,211
  1,306
  1,406
  1,510
  1,617
  1,729
  1,845
  1,966
  2,092
  2,223
  2,359
  2,501
  2,649
  2,803
  2,964
  3,132
  3,308
  3,491
  3,683
  3,883
Revenue / Adjusted assets
  1.379
  1.382
  1.381
  1.380
  1.380
  1.381
  1.380
  1.380
  1.380
  1.380
  1.380
  1.381
  1.380
  1.379
  1.380
  1.380
  1.380
  1.380
  1.380
  1.380
  1.380
  1.380
  1.380
  1.380
  1.380
  1.380
  1.380
  1.380
  1.380
  1.380
Average production assets, $m
  178
  202
  227
  254
  282
  312
  343
  375
  409
  445
  481
  519
  559
  600
  643
  687
  733
  781
  831
  883
  938
  994
  1,053
  1,114
  1,178
  1,245
  1,315
  1,387
  1,464
  1,543
Working capital, $m
  48
  54
  61
  68
  76
  83
  92
  100
  109
  119
  129
  139
  149
  160
  172
  184
  196
  209
  222
  236
  251
  266
  281
  298
  315
  333
  351
  371
  391
  413
Total debt, $m
  54
  81
  110
  140
  172
  206
  241
  278
  317
  357
  398
  442
  487
  534
  582
  633
  685
  740
  797
  856
  918
  982
  1,049
  1,118
  1,191
  1,267
  1,346
  1,429
  1,516
  1,606
Total liabilities, $m
  203
  230
  259
  289
  321
  355
  390
  427
  465
  506
  547
  591
  636
  682
  731
  782
  834
  889
  946
  1,005
  1,066
  1,131
  1,197
  1,267
  1,340
  1,416
  1,495
  1,578
  1,665
  1,755
Total equity, $m
  246
  279
  314
  350
  389
  430
  473
  518
  564
  613
  663
  716
  771
  827
  886
  948
  1,011
  1,078
  1,146
  1,218
  1,293
  1,371
  1,452
  1,536
  1,624
  1,717
  1,813
  1,913
  2,018
  2,128
Total liabilities and equity, $m
  449
  509
  573
  639
  710
  785
  863
  945
  1,029
  1,119
  1,210
  1,307
  1,407
  1,509
  1,617
  1,730
  1,845
  1,967
  2,092
  2,223
  2,359
  2,502
  2,649
  2,803
  2,964
  3,133
  3,308
  3,491
  3,683
  3,883
Debt-to-equity ratio
  0.220
  0.290
  0.350
  0.400
  0.440
  0.480
  0.510
  0.540
  0.560
  0.580
  0.600
  0.620
  0.630
  0.640
  0.660
  0.670
  0.680
  0.690
  0.700
  0.700
  0.710
  0.720
  0.720
  0.730
  0.730
  0.740
  0.740
  0.750
  0.750
  0.750
Adjusted equity ratio
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548
  0.548

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  4
  3
  1
  0
  -3
  -5
  -7
  -10
  -13
  -16
  -16
  -19
  -22
  -26
  -29
  -33
  -36
  -40
  -45
  -49
  -53
  -58
  -63
  -68
  -73
  -78
  -84
  -90
  -96
  -103
Depreciation, amort., depletion, $m
  28
  31
  35
  38
  42
  46
  51
  55
  60
  65
  67
  72
  78
  83
  89
  95
  102
  109
  115
  123
  130
  138
  146
  155
  164
  173
  183
  193
  203
  214
Funds from operations, $m
  32
  34
  36
  38
  40
  41
  43
  45
  47
  49
  51
  53
  55
  58
  60
  63
  65
  68
  71
  74
  77
  80
  84
  87
  91
  95
  99
  103
  107
  112
Change in working capital, $m
  6
  6
  7
  7
  8
  8
  8
  9
  9
  9
  10
  10
  11
  11
  11
  12
  12
  13
  13
  14
  14
  15
  16
  16
  17
  18
  19
  19
  20
  21
Cash from operations, $m
  26
  27
  29
  31
  32
  33
  35
  36
  38
  40
  41
  43
  45
  47
  49
  51
  53
  55
  58
  60
  63
  65
  68
  71
  74
  77
  80
  83
  87
  91
Maintenance CAPEX, $m
  -22
  -25
  -28
  -32
  -35
  -39
  -43
  -48
  -52
  -57
  -62
  -67
  -72
  -78
  -83
  -89
  -95
  -102
  -109
  -115
  -123
  -130
  -138
  -146
  -155
  -164
  -173
  -183
  -193
  -203
New CAPEX, $m
  -22
  -24
  -25
  -27
  -28
  -30
  -31
  -32
  -34
  -35
  -37
  -38
  -40
  -41
  -43
  -44
  -46
  -48
  -50
  -52
  -54
  -56
  -59
  -61
  -64
  -67
  -70
  -73
  -76
  -80
Cash from investing activities, $m
  -44
  -49
  -53
  -59
  -63
  -69
  -74
  -80
  -86
  -92
  -99
  -105
  -112
  -119
  -126
  -133
  -141
  -150
  -159
  -167
  -177
  -186
  -197
  -207
  -219
  -231
  -243
  -256
  -269
  -283
Free cash flow, $m
  -18
  -21
  -24
  -28
  -31
  -35
  -39
  -44
  -48
  -52
  -57
  -62
  -67
  -72
  -77
  -83
  -89
  -95
  -101
  -107
  -114
  -121
  -129
  -137
  -145
  -154
  -163
  -172
  -182
  -192
Issuance/(repayment) of debt, $m
  25
  27
  29
  30
  32
  34
  35
  37
  38
  40
  42
  43
  45
  47
  49
  51
  53
  55
  57
  59
  62
  64
  67
  70
  73
  76
  79
  83
  87
  91
Issuance/(repurchase) of shares, $m
  27
  30
  34
  37
  41
  46
  50
  55
  59
  64
  66
  71
  77
  82
  88
  94
  100
  107
  113
  120
  128
  136
  144
  152
  161
  170
  180
  190
  201
  212
Cash from financing (excl. dividends), $m  
  52
  57
  63
  67
  73
  80
  85
  92
  97
  104
  108
  114
  122
  129
  137
  145
  153
  162
  170
  179
  190
  200
  211
  222
  234
  246
  259
  273
  288
  303
Total cash flow (excl. dividends), $m
  34
  36
  38
  40
  42
  44
  46
  48
  50
  52
  51
  53
  55
  57
  59
  62
  64
  67
  69
  72
  75
  78
  82
  85
  89
  93
  97
  101
  106
  110
Retained Cash Flow (-), $m
  -31
  -33
  -35
  -37
  -41
  -46
  -50
  -55
  -59
  -64
  -66
  -71
  -77
  -82
  -88
  -94
  -100
  -107
  -113
  -120
  -128
  -136
  -144
  -152
  -161
  -170
  -180
  -190
  -201
  -212
Prev. year cash balance distribution, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  3
  3
  3
  3
  1
  -2
  -4
  -7
  -10
  -12
  -15
  -19
  -22
  -25
  -29
  -32
  -36
  -40
  -44
  -48
  -53
  -57
  -62
  -67
  -72
  -78
  -83
  -89
  -95
  -102
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  3
  3
  3
  2
  1
  -1
  -3
  -4
  -5
  -7
  -7
  -8
  -8
  -8
  -8
  -8
  -8
  -7
  -7
  -6
  -5
  -5
  -4
  -3
  -3
  -2
  -2
  -1
  -1
  -1
Current shareholders' claim on cash, %
  93.9
  88.3
  83.0
  78.2
  73.6
  69.3
  65.3
  61.6
  58.1
  54.8
  51.9
  49.1
  46.5
  44.0
  41.7
  39.5
  37.4
  35.5
  33.6
  31.9
  30.2
  28.6
  27.1
  25.7
  24.4
  23.1
  21.9
  20.8
  19.7
  18.7

Farmer Bros. Co. is a national coffee roaster, wholesaler and distributor of coffee, tea and culinary products. The Company offers private brand and consumer-branded coffee products to small independent restaurants and foodservice operators, and institutional buyers. Its 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. Its primary brands include Farmer Brothers, Artisan Collection by Farmer Brothers, Superior and Metropolitan. Its Artisan coffee products include Direct Trade, Fair Trade Certified, Rainforest Alliance Certified organic blends. It sells whole bean and roast and ground flavored and unflavored coffee products under the Un Momento, Collaborative Coffee, Cain's and McGarvey brands at retail. Its roast and ground coffee products are sold in traditional packaging, including bags and fractional packages, as well as single-serve packaging.

FINANCIAL RATIOS  of  Farmer Bros. (FARM)

Valuation Ratios
P/E Ratio 17
Price to Sales 0.8
Price to Book 1.9
Price to Tangible Book
Price to Cash Flow 9.7
Price to Free Cash Flow -9.5
Growth Rates
Sales Growth Rate -0.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 70%
Cap. Spend. - 3 Yr. Gr. Rate 27.7%
Financial Strength
Quick Ratio 0
Current Ratio 0
LT Debt to Equity 0%
Total Debt to Equity 13.5%
Interest Coverage 21
Management Effectiveness
Return On Assets 6.6%
Ret/ On Assets - 3 Yr. Avg. 12.3%
Return On Total Capital 11.2%
Ret/ On T. Cap. - 3 Yr. Avg. 25.4%
Return On Equity 12.1%
Return On Equity - 3 Yr. Avg. 26.3%
Asset Turnover 1.4
Profitability Ratios
Gross Margin 39.5%
Gross Margin - 3 Yr. Avg. 37.9%
EBITDA Margin 12%
EBITDA Margin - 3 Yr. Avg. 7.5%
Operating Margin 7.9%
Oper. Margin - 3 Yr. Avg. 3.3%
Pre-Tax Margin 7.4%
Pre-Tax Margin - 3 Yr. Avg. 3.1%
Net Profit Margin 4.4%
Net Profit Margin - 3 Yr. Avg. 7.1%
Effective Tax Rate 40%
Eff/ Tax Rate - 3 Yr. Avg. -253.3%
Payout Ratio 0%

FARM stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the FARM stock intrinsic value calculation we used $541.5 million for the last fiscal year's total revenue generated by Farmer Bros.. The default revenue input number comes from 0001 income statement of Farmer Bros.. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our FARM stock valuation model: a) initial revenue growth rate of 14.3% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for FARM is calculated based on our internal credit rating of Farmer Bros., is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Farmer Bros..
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of FARM stock the variable cost ratio is equal to 98.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for FARM stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 14% for Farmer Bros..

Corporate tax rate of 27% is the nominal tax rate for Farmer Bros.. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the FARM stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for FARM are equal to 28.8%.

Life of production assets of 7.2 years is the average useful life of capital assets used in Farmer Bros. operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for FARM is equal to 7.7%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $215.135 million for Farmer Bros. - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 16.928 million for Farmer Bros. is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Farmer Bros. at the current share price and the inputted number of shares is $0.4 billion.

RELATED COMPANIES Price Int.Val. Rating
SJM J.M. Smucker 112.94 150.51  buy
JVA Coffee Holding 4.15 0.95  str.sell
THS TreeHouse Food 51.21 17.70  str.sell

COMPANY NEWS

▶ Farmer Brothers: Fiscal 1Q Earnings Snapshot   [05:13AM  Associated Press]
▶ Farmer Brothers: Fiscal 4Q Earnings Snapshot   [04:40PM  Associated Press]
▶ Farmer Bros. Co. to Host Earnings Call   [03:00PM  ACCESSWIRE]
▶ Farmer Brothers Releases 2017 Sustainability Report   [Jun-07-18 01:19PM  GlobeNewswire]
▶ Cott could 'buy the FARM,' analyst report says   [May-17-18 02:27PM  American City Business Journals]
▶ Farmer Brothers: Fiscal 3Q Earnings Snapshot   [May-09-18 05:07AM  Associated Press]
▶ New owners shuttering Boyd's Coffee operations in Portland, laying off 135   [Mar-28-18 07:09PM  American City Business Journals]
▶ Farmer Bros. Co. Receives SQF Certification   [Mar-05-18 08:00AM  GlobeNewswire]
▶ Farmer Bros. Co. to Host Earnings Call   [01:15PM  ACCESSWIRE]
▶ Farmer Brothers reports 1Q loss   [Nov-07-17 06:27PM  Associated Press]
▶ Farmer Bros. Co. to Host Earnings Call   [03:00PM  ACCESSWIRE]
▶ Why Zogenix, Farmer Bros., and CalAmp Jumped Today   [Sep-29-17 04:30PM  Motley Fool]
▶ Farmer Brothers posts 4Q profit   [Sep-28-17 09:41PM  Associated Press]
▶ 4 Stocks Moving on Wednesday   [Sep-13-17 03:49PM  GuruFocus.com]
▶ At $32.7, Is It Time To Buy Farmer Bros Co (FARM)?   [Sep-11-17 07:21AM  Simply Wall St.]
▶ Why Macy's, Farmer Brothers, and Snap Jumped Today   [Aug-22-17 05:05PM  Motley Fool]
▶ High-profile homegrown Portland coffee company to be sold   [11:55AM  American City Business Journals]
▶ ETFs with exposure to Farmer Brothers Co. : July 3, 2017   [Jul-03-17 03:11PM  Capital Cube]
▶ ETFs with exposure to Farmer Brothers Co. : June 20, 2017   [Jun-20-17 02:56PM  Capital Cube]
▶ New Strong Sell Stocks for May 19th   [May-19-17 09:06AM  Zacks]
▶ Farmer Brothers posts 3Q profit   [05:01PM  Associated Press]

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