Coffee (NASDAQ:JVA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Coffee (NASDAQ:JVA) to a buy rating in a report released on Saturday,Wall Street Zen reports.

A number of other research firms have also recently issued reports on JVA. DA Davidson set a $10.00 price objective on shares of Coffee in a research report on Wednesday, August 12th. Weiss Ratings raised Coffee from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Hold rating. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.50.

Coffee Trading Up 3.1%

Shares of JVA opened at $4.62 on Friday. The firm’s fifty day simple moving average is $4.00 and its two-hundred day simple moving average is $3.85. Coffee has a 12 month low of $2.93 and a 12 month high of $5.03. The stock has a market capitalization of $26.38 million, a P/E ratio of 5.50 and a beta of 1.41.

Coffee (NASDAQ:JVA) last released its earnings results on Friday, September 11th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.34. Coffee had a net margin of 4.85% and a return on equity of 16.20%. The company had revenue of $21.69 million for the quarter, compared to the consensus estimate of $23.00 million.

Coffee announced that its Board of Directors has initiated a stock buyback plan on Wednesday, October 7th that permits the company to buy back $2.50 million in shares. This repurchase authorization permits the company to reacquire up to 11% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Coffee stock. Empowered Funds LLC acquired a new position in Coffee Holding Co., Inc. (NASDAQ:JVA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 42,219 shares of the company’s stock, valued at approximately $141,000. Empowered Funds LLC owned about 0.74% of Coffee as of its most recent filing with the Securities and Exchange Commission.

Coffee Company Profile

Coffee Holding Co, Inc (NASDAQ:JVA) is a coffee company engaged in the sourcing, roasting, blending, packaging and distribution of coffee products. The company serves retail, foodservice, wholesale and private-label customers, offering products in a variety of formats, including whole bean, ground and single-serve coffee.

Its portfolio includes branded and private-label coffees marketed through grocery stores, club stores, specialty retailers, restaurants, hospitality businesses and other commercial channels.