Westrock Coffee Company (NASDAQ:WEST) Receives $10.00 Consensus PT from Brokerages

Shares of Westrock Coffee Company (NASDAQ:WEST) have been given an average recommendation of “Hold” by the five research firms that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $10.00.

A number of brokerages recently commented on WEST. Stifel Nicolaus set a $9.00 target price on Westrock Coffee in a report on Friday, August 7th. Telsey Advisory Group lifted their price target 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. Zacks Research raised shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Benchmark upped their price objective on shares of Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Westrock Coffee in a research report on Tuesday, August 4th.

Westrock Coffee Price Performance

WEST opened at $8.06 on Friday. The business has a 50 day simple moving average of $8.04 and a two-hundred day simple moving average of $6.69. The firm has a market capitalization of $786.90 million, a price-to-earnings ratio of -12.21 and a beta of 0.90. Westrock Coffee has a one year low of $3.59 and a one year high of $10.19.

Westrock Coffee (NASDAQ:WEST) last released its quarterly earnings data on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The business had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $318.80 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 4.88%. As a group, sell-side analysts expect that Westrock Coffee will post -0.22 EPS for the current fiscal year.

Institutional Trading of Westrock Coffee

Institutional investors and hedge funds have recently bought and sold shares of the stock. Corient Private Wealth LP purchased a new position in shares of Westrock Coffee during the 2nd quarter worth approximately $101,000. California State Teachers Retirement System lifted its stake in shares of Westrock Coffee by 115.0% in the 2nd quarter. California State Teachers Retirement System now owns 4,193 shares of the company’s stock valued at $34,000 after purchasing an additional 2,243 shares during the period. Two Sigma Securities LLC purchased a new position in shares of Westrock Coffee in the 2nd quarter valued at approximately $125,000. Hsbc Holdings PLC boosted its position in shares of Westrock Coffee by 93.6% during the second quarter. Hsbc Holdings PLC now owns 57,716 shares of the company’s stock valued at $464,000 after purchasing an additional 27,905 shares in the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of Westrock Coffee during the second quarter valued at approximately $3,049,000. 45.08% of the stock is currently 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.