Westrock Coffee (NASDAQ:WEST) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Westrock Coffee (NASDAQ:WEST) from a sell rating to a hold rating in a research report released on Saturday.

WEST has been the subject of several other research reports. Stifel Nicolaus reduced their price objective on shares of Westrock Coffee from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and issued a $7.00 target price on shares of Westrock Coffee in a research note on Monday, March 9th. Benchmark reissued a “buy” rating on shares of Westrock Coffee in a report on Friday, November 14th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Westrock Coffee in a research report on Wednesday, January 21st. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Westrock Coffee has an average rating of “Moderate Buy” and an average target price of $8.00.

Westrock Coffee Stock Up 10.4%

Shares of NASDAQ WEST opened at $4.26 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.96 and a debt-to-equity ratio of 37.87. The company has a market cap of $412.45 million, a P/E ratio of -4.48 and a beta of 0.49. Westrock Coffee has a 52 week low of $3.59 and a 52 week high of $7.92. The business has a 50-day simple moving average of $4.55 and a two-hundred day simple moving average of $4.58.

Westrock Coffee (NASDAQ:WEST) last announced its quarterly earnings results on Tuesday, March 10th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.11). Westrock Coffee had a negative net margin of 7.61% and a negative return on equity of 233.53%. The company had revenue of $339.47 million for the quarter, compared to the consensus estimate of $317.40 million. Research analysts anticipate that Westrock Coffee will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of WEST. NFC Investments LLC raised its stake in shares of Westrock Coffee by 2.0% during the third quarter. NFC Investments LLC now owns 4,089,711 shares of the company’s stock worth $19,876,000 after acquiring an additional 81,730 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 14,707 shares during the last quarter. Agman Capital LLC purchased a new stake in shares of Westrock Coffee in the 4th quarter valued at $3,007,000. Millennium Management LLC grew its holdings 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 grew its holdings 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. 45.08% of the stock is currently owned by 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.