Brokerages Set Westrock Coffee Company (NASDAQ:WEST) Target Price at $9.00

Westrock Coffee Company (NASDAQ:WEST) has been assigned an average recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $9.00.

Several research firms have commented on WEST. Weiss Ratings upgraded Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, May 7th. Benchmark raised their price target on shares of Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Wall Street Zen upgraded shares of Westrock Coffee from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Telsey Advisory Group increased their target price on shares of Westrock Coffee from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Zacks Research upgraded shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th.

Insider Buying and Selling at Westrock Coffee

In related news, Director Joe T. Ford acquired 15,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $8.50 per share, for a total transaction of $127,500.00. Following the acquisition, the director directly owned 273,000 shares of the company’s stock, valued at approximately $2,320,500. The trade was a 5.81% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders bought 34,500 shares of company stock valued at $290,715. 25.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Group One Trading LLC acquired a new position in shares of Westrock Coffee during the 1st quarter worth approximately $26,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Westrock Coffee by 199.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock valued at $36,000 after buying an additional 4,136 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Westrock Coffee by 79.2% in the third quarter. BNP Paribas Financial Markets now owns 7,782 shares of the company’s stock valued at $38,000 after buying an additional 3,439 shares in the last quarter. Waterloo Capital L.P. bought a new position in shares of Westrock Coffee in the fourth quarter valued at $43,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Westrock Coffee during the fourth quarter worth $47,000. 45.08% of the stock is currently owned by institutional investors.

Westrock Coffee Trading Down 0.7%

WEST stock opened at $7.16 on Thursday. The stock has a 50-day moving average price of $8.03 and a two-hundred day moving average price of $5.78. Westrock Coffee has a 1 year low of $3.59 and a 1 year high of $10.19. The stock has a market cap of $693.66 million, a PE ratio of -9.55 and a beta of 0.90.

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, topping the consensus estimate of ($0.13) by $0.09. The company had revenue of $308.83 million during the quarter, compared to analysts’ expectations of $285.12 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 5.59%. On average, analysts forecast that Westrock Coffee will post -0.18 earnings per share for the current fiscal year.

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.