Brokerages Set Westrock Coffee Company (NASDAQ:WEST) PT at $10.40

Westrock Coffee Company (NASDAQ:WEST) has been given an average rating of “Buy” by the five brokerages that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a buy rating. The average 1-year price target among analysts that have issued a report on the stock in the last year is $10.40.

A number of equities research analysts recently issued reports on the company. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $9.00 target price on shares of Westrock Coffee in a research note on Tuesday, May 6th. Stifel Nicolaus reduced their price target on Westrock Coffee from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Wall Street Zen lowered Westrock Coffee from a “hold” rating to a “sell” rating in a research note on Friday, June 27th. Finally, Benchmark reissued a “buy” rating and set a $10.00 price target on shares of Westrock Coffee in a research note on Wednesday, April 16th.

Insider Activity at Westrock Coffee

In related news, Director Joe T. Ford purchased 25,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $7.44 per share, for a total transaction of $186,000.00. Following the acquisition, the director owned 371,445 shares in the company, valued at approximately $2,763,550.80. This trade represents a 7.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders acquired 105,000 shares of company stock worth $782,400. Corporate insiders own 42.10% of the company’s stock.

Institutional Trading of Westrock Coffee

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Westrock Coffee by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 2,950,639 shares of the company’s stock valued at $21,304,000 after purchasing an additional 137,646 shares in the last quarter. Geode Capital Management LLC increased its holdings in Westrock Coffee by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 841,226 shares of the company’s stock valued at $5,402,000 after purchasing an additional 34,901 shares in the last quarter. Millennium Management LLC increased its holdings in Westrock Coffee by 198.9% in the 4th quarter. Millennium Management LLC now owns 589,450 shares of the company’s stock valued at $3,784,000 after purchasing an additional 392,214 shares in the last quarter. Northern Trust Corp increased its holdings in Westrock Coffee by 2.3% in the 4th quarter. Northern Trust Corp now owns 300,712 shares of the company’s stock valued at $1,931,000 after purchasing an additional 6,762 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Westrock Coffee by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 290,306 shares of the company’s stock valued at $2,096,000 after purchasing an additional 5,653 shares in the last quarter. 45.08% of the stock is currently owned by institutional investors and hedge funds.

Westrock Coffee Price Performance

WEST stock opened at $6.28 on Wednesday. The firm has a 50 day moving average of $6.62 and a 200-day moving average of $6.48. Westrock Coffee has a 12-month low of $5.28 and a 12-month high of $10.17. The company has a current ratio of 1.18, a quick ratio of 0.57 and a debt-to-equity ratio of 5.69. The company has a market cap of $594.34 million, a price-to-earnings ratio of -6.90 and a beta of 0.51.

Westrock Coffee (NASDAQ:WEST) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.05). Westrock Coffee had a negative return on equity of 41.92% and a negative net margin of 9.61%. The company had revenue of $213.80 million for the quarter, compared to analyst estimates of $213.85 million. As a group, equities analysts expect that Westrock Coffee will post -0.3 EPS for the current fiscal year.

Westrock Coffee Company Profile

Westrock Coffee Company, LLC operates as an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States and internationally. It operates through two segments, Beverage Solutions, and Sustainable Sourcing & Traceability (SS&T). The Beverage Solutions segment provides various packaging, including branded and private label coffee in bags, fractional packs, and single serve cups, as well as extract solutions for applications in cold brew and ready-to-drink offerings.