Westrock Coffee Company (NASDAQ:WEST) Receives Average Recommendation of “Hold” from Brokerages

Shares of Westrock Coffee Company (NASDAQ:WEST) have been given an average rating of “Hold” by the five research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $9.00.

A number of equities analysts have recently issued reports on the company. Weiss Ratings upgraded Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Zacks Research upgraded Westrock Coffee from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Stifel Nicolaus set a $8.00 target price on Westrock Coffee in a report on Friday, May 8th. Benchmark raised their target price on Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Telsey Advisory Group boosted their price target on Westrock Coffee from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, May 8th.

Westrock Coffee Stock Performance

WEST opened at $7.60 on Monday. The stock has a market capitalization of $736.28 million, a P/E ratio of -10.13 and a beta of 0.90. The company’s 50-day simple moving average is $8.11 and its two-hundred day simple moving average is $6.07. Westrock Coffee has a 52-week low of $3.59 and a 52-week high of $10.19.

Westrock Coffee (NASDAQ:WEST) last issued its earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.09. The company had revenue of $308.83 million for the quarter, compared to analysts’ expectations of $285.12 million. Westrock Coffee had a negative net margin of 5.59% and a negative return on equity of 2,145.68%. Research analysts forecast that Westrock Coffee will post -0.18 EPS for the current fiscal year.

Insider Activity

In other Westrock Coffee news, Director Joe T. Ford bought 15,000 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $8.50 per share, for a total transaction of $127,500.00. Following the completion of the transaction, the director owned 273,000 shares of the company’s stock, valued at $2,320,500. This represents a 5.81% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 34,500 shares of company stock valued at $290,715 over the last quarter. Company insiders own 25.40% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WEST. Agman Capital LLC bought a new stake in Westrock Coffee during the 4th quarter worth approximately $3,007,000. Millennium Management LLC boosted its position in shares of Westrock Coffee by 111.2% in the fourth quarter. Millennium Management LLC now owns 676,400 shares of the company’s stock worth $2,753,000 after purchasing an additional 356,118 shares during the period. Lee Danner & Bass Inc. purchased a new stake in shares of Westrock Coffee in the first quarter worth $1,203,000. CastleKnight Management LP increased its stake in shares of Westrock Coffee by 44.8% in the fourth quarter. CastleKnight Management LP now owns 575,000 shares of the company’s stock worth $2,340,000 after purchasing an additional 178,020 shares in the last quarter. Finally, Piedmont Capital Management LLC NC bought a new stake in shares of Westrock Coffee during the 4th quarter valued at $645,000. Hedge funds and other institutional investors own 45.08% of the company’s stock.

Westrock Coffee Company Profile

Westrock Coffee Company is a global integrated coffee roaster and manufacturer that delivers end-to-end solutions across the coffee and tea supply chain. The company sources, roasts, blends, packages and distributes a diverse range of products, including hot and cold brew coffee, single-serve pods, instant and soluble coffee, tea, and specialty coffee extracts. Serving retail, convenience, foodservice and industrial customers, Westrock Coffee offers both private-label and co-packed branded products to meet the needs of supermarkets, quick-service restaurants, office coffee services and other channels.

Since its founding in 2008, Westrock Coffee has grown through a combination of organic expansion and strategic acquisitions to establish manufacturing facilities across North America, Latin America and Europe.