Westrock Coffee (NASDAQ:WEST) Trading Up 5.9% – Still a Buy?

Westrock Coffee Company (NASDAQ:WEST) shares rose 5.9% on Tuesday . The stock traded as high as $8.09 and last traded at $8.1440. 46,723 shares changed hands during trading, a decline of 91% from the average session volume of 503,615 shares. The stock had previously closed at $7.69.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WEST shares. Telsey Advisory Group boosted their target price on shares of Westrock Coffee from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 19th. Weiss Ratings restated a “sell (d-)” rating on shares of Westrock Coffee in a research report on Tuesday, August 4th. Stifel Nicolaus set a $9.00 target price on Westrock Coffee in a report on Friday, August 7th. Finally, Benchmark restated a “buy” rating on shares of Westrock Coffee in a report on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.00.

Westrock Coffee Trading Up 5.3%

The stock’s 50-day moving average price is $7.94 and its 200-day moving average price is $7.04. The company has a market cap of $790.80 million, a P/E ratio of -12.26 and a beta of 0.89.

Westrock Coffee (NASDAQ:WEST) last issued its earnings results on Thursday, August 6th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The firm had revenue of $305.66 million during the quarter, compared to the consensus estimate of $318.80 million. Westrock Coffee had a negative net margin of 4.88% and a negative return on equity of 2,145.68%. On average, research analysts anticipate that Westrock Coffee Company will post -0.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Westrock Coffee

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE lifted its position in shares of Westrock Coffee by 2.2% in the 1st quarter. Bank of America Corp DE now owns 69,801 shares of the company’s stock worth $297,000 after purchasing an additional 1,477 shares during the period. Red Door Wealth Management LLC lifted its holdings in Westrock Coffee by 7.7% in the first quarter. Red Door Wealth Management LLC now owns 28,000 shares of the company’s stock worth $119,000 after buying an additional 2,000 shares during the period. Group One Trading LLC purchased a new stake in Westrock Coffee in the second quarter worth about $27,000. Legal & General Group Plc bought a new stake in Westrock Coffee during the 2nd quarter valued at approximately $30,000. Finally, Quantbot Technologies LP purchased a new position in shares of Westrock Coffee during the 2nd quarter worth approximately $39,000. 45.08% of the stock is owned by institutional investors.

About Westrock Coffee

Westrock Coffee Company (NASDAQ: WEST) is a global provider of integrated coffee, tea, flavor, extract and ready-to-drink beverage solutions. The company sources, develops, manufactures and distributes beverage products for businesses seeking customized offerings and end-to-end supply-chain support.

Its products and services include roasted and soluble coffee, tea, ready-to-drink beverages, flavors, extracts and related ingredients. Westrock Coffee also provides beverage equipment, brewing systems, packaging, product development and logistics services.