Westrock Coffee (NASDAQ:WEST) Hits New 1-Year High – Here’s What Happened

Shares of Westrock Coffee Company (NASDAQ:WEST) hit a new 52-week high during trading on Thursday . The company traded as high as $9.13 and last traded at $8.93, with a volume of 1318628 shares changing hands. The stock had previously closed at $7.98.

Analyst Upgrades and Downgrades

WEST has been the topic of a number of research reports. Zacks Research upgraded shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Weiss Ratings upgraded shares of Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Stifel Nicolaus set a $8.00 target price on shares of Westrock Coffee in a report on Friday, May 8th. Benchmark boosted their target price on shares of Westrock Coffee from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, May 11th. Finally, Wall Street Zen upgraded shares of Westrock Coffee from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $9.00.

Westrock Coffee Trading Up 0.1%

The company has a market cap of $920.36 million, a P/E ratio of -12.67 and a beta of 0.90. The stock’s 50 day moving average is $6.86 and its 200-day moving average is $5.24. The company has a current ratio of 0.97, a quick ratio of 0.46 and a debt-to-equity ratio of 37.87.

Westrock Coffee (NASDAQ:WEST) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. The company had revenue of $308.83 million for the quarter, compared to analysts’ expectations of $285.13 million. Westrock Coffee had a negative net margin of 5.59% and a negative return on equity of 2,145.68%. Research analysts anticipate that Westrock Coffee Company will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Westrock Coffee

In other news, Director Joe T. Ford purchased 55,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average price of $4.60 per share, for a total transaction of $253,000.00. Following the purchase, the director directly owned 533,916 shares in the company, valued at approximately $2,456,013.60. This trade represents a 11.48% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have bought 89,500 shares of company stock valued at $543,715. Insiders own 25.40% of the company’s stock.

Hedge Funds Weigh In On Westrock Coffee

A number of hedge funds have recently bought and sold shares of the business. NFC Investments LLC raised its position in Westrock Coffee by 2.0% in the 3rd quarter. NFC Investments LLC now owns 4,089,711 shares of the company’s stock worth $19,876,000 after buying an additional 81,730 shares during the last quarter. Vanguard Group Inc. raised its position in Westrock Coffee by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 2,984,114 shares of the company’s stock worth $14,503,000 after buying an additional 14,707 shares during the last quarter. Agman Capital LLC purchased a new stake in shares of Westrock Coffee during the 4th quarter valued at about $3,007,000. Millennium Management LLC increased its position in shares of Westrock Coffee by 111.2% during the 4th quarter. Millennium Management LLC now owns 676,400 shares of the company’s stock valued at $2,753,000 after purchasing an additional 356,118 shares during the last quarter. Finally, CastleKnight Management LP increased its position in shares of Westrock Coffee by 44.8% during the 4th quarter. CastleKnight Management LP now owns 575,000 shares of the company’s stock valued at $2,340,000 after purchasing an additional 178,020 shares during the last quarter. 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.