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

Zacks Research upgraded shares of Westrock Coffee (NASDAQ:WEST) from a strong sell rating to a hold rating in a research note released on Monday,Zacks.com reports.

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

Westrock Coffee Stock Down 1.1%

Shares of WEST stock opened at $8.65 on Monday. Westrock Coffee has a 1 year low of $3.59 and a 1 year high of $8.98. The stock has a market cap of $838.01 million, a PE ratio of -11.53 and a beta of 0.78. The business’s fifty day moving average is $4.95 and its 200-day moving average is $4.62. The company has a debt-to-equity ratio of 37.87, a quick ratio of 0.48 and a current ratio of 0.97.

Westrock Coffee (NASDAQ:WEST) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $308.83 million for the quarter, compared to analysts’ expectations of $285.13 million. Equities analysts expect that Westrock Coffee will post -0.18 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Joe T. Ford bought 55,000 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were bought at an average cost of $4.60 per share, with a total value of $253,000.00. Following the completion of the transaction, the director directly owned 533,916 shares of the company’s stock, valued at approximately $2,456,013.60. This trade represents a 11.48% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 27.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Westrock Coffee

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

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.