Westrock Coffee (NASDAQ:WEST) Shares Up 11.6% – Time to Buy?

Shares of Westrock Coffee (NASDAQ:WEST) rose 11.6% during trading on Friday . The company traded as high as $6.20 and last traded at $6.87. Approximately 1,815 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 289,150 shares. The stock had previously closed at $6.15.

Wall Street Analyst Weigh In

WEST has been the subject of several research reports. Benchmark reissued a “buy” rating and set a $10.00 price objective on shares of Westrock Coffee in a report on Wednesday, April 16th. Stifel Nicolaus lowered their price target on Westrock Coffee from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $9.00 price objective on shares of Westrock Coffee in a report on Tuesday, May 6th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $10.40.

Westrock Coffee Stock Up 18.0 %

The company’s 50-day simple moving average is $6.31 and its two-hundred day simple moving average is $6.61. The firm has a market capitalization of $684.10 million, a P/E ratio of -8.44 and a beta of 0.49. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73.

Westrock Coffee (NASDAQ:WEST) last released its quarterly earnings results on Thursday, May 8th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.05). The company had revenue of $213.80 million for the quarter, compared to the consensus estimate of $213.85 million. Westrock Coffee had a negative net margin of 9.05% and a negative return on equity of 20.72%. As a group, research analysts expect that Westrock Coffee will post -0.3 earnings per share for the current year.

Insider Activity at Westrock Coffee

In other news, COO William A. Ford purchased 15,000 shares of the company’s stock in a transaction on Friday, March 14th. The stock was acquired at an average cost of $6.45 per share, for a total transaction of $96,750.00. Following the completion of the transaction, the chief operating officer now directly owns 476,190 shares in the company, valued at $3,071,425.50. This trade represents a 3.25 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 42.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. BNP Paribas Financial Markets bought a new stake in Westrock Coffee during the fourth quarter valued at about $37,000. KLP Kapitalforvaltning AS bought a new stake in Westrock Coffee during the 4th quarter valued at approximately $47,000. HHM Wealth Advisors LLC boosted its stake in Westrock Coffee by 130.9% in the 1st quarter. HHM Wealth Advisors LLC now owns 8,080 shares of the company’s stock worth $58,000 after purchasing an additional 4,580 shares during the period. Virtu Financial LLC purchased a new stake in Westrock Coffee during the 4th quarter valued at approximately $83,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Westrock Coffee by 23.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,418 shares of the company’s stock valued at $87,000 after buying an additional 2,588 shares in the last quarter. Hedge funds and other institutional investors own 45.08% of the company’s stock.

About Westrock Coffee

Westrock Coffee Company, LLC operates as an integrated coffee, tea, flavors, extracts, and ingredients solutions provider in the United States and internationally. It operates through two segments, Beverage Solutions, and Sustainable Sourcing & Traceability (SS&T). The Beverage Solutions segment provides various packaging, including branded and private label coffee in bags, fractional packs, and single serve cups, as well as extract solutions for applications in cold brew and ready-to-drink offerings.