Westrock Coffee (NASDAQ:WEST) Raised to Hold at Zacks Research

Westrock Coffee (NASDAQ:WEST) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts have also recently weighed in on WEST. Stifel Nicolaus set a $8.00 price objective on Westrock Coffee in a research report on Friday. Weiss Ratings raised Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Telsey Advisory Group lifted their target price on Westrock Coffee from $7.00 to $9.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen raised Westrock Coffee from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Benchmark lifted their target price on Westrock Coffee from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Monday. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.00.

Westrock Coffee Stock Down 1.1%

WEST stock opened at $8.65 on Monday. Westrock Coffee has a twelve month low of $3.59 and a twelve month high of $8.98. The company has a quick ratio of 0.48, a current ratio of 0.97 and a debt-to-equity ratio of 37.87. The stock has a market cap of $838.01 million, a P/E ratio of -11.53 and a beta of 0.78. The business’s 50-day moving average price is $4.95 and its 200-day moving average price is $4.62.

Westrock Coffee (NASDAQ:WEST) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.09. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 5.59%.The firm had revenue of $308.83 million for the quarter, compared to analysts’ expectations of $285.13 million. On average, equities research analysts forecast that Westrock Coffee will post -0.18 EPS for the current year.

Insider Transactions at Westrock Coffee

In other Westrock Coffee news, Director Joe T. Ford bought 55,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average price of $4.60 per share, with a total value of $253,000.00. Following the purchase, the director owned 533,916 shares of the company’s stock, valued at $2,456,013.60. This trade represents a 11.48% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 27.70% of the company’s stock.

Institutional Trading of Westrock Coffee

Several hedge funds have recently modified their holdings of the company. AQR Capital Management LLC bought a new position in shares of Westrock Coffee during the 1st quarter valued at approximately $166,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Westrock Coffee by 10.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,292 shares of the company’s stock valued at $154,000 after purchasing an additional 2,003 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Westrock Coffee by 8.1% in the second quarter. Rhumbline Advisers now owns 49,510 shares of the company’s stock valued at $284,000 after purchasing an additional 3,723 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Westrock Coffee by 199.0% during the second quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock valued at $36,000 after purchasing an additional 4,136 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Westrock Coffee during the second quarter valued at $104,000. 45.08% of the stock is owned by hedge funds and other institutional investors.

About Westrock Coffee

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.