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

Westrock Coffee Company (NASDAQ:WEST) has earned an average recommendation of “Hold” from the five brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $9.00.

A number of research analysts have weighed in on the stock. Zacks Research raised shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a research report on Monday, May 11th. Benchmark increased their price objective on shares of Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Telsey Advisory Group upped their price objective on shares of Westrock Coffee from $7.00 to $9.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Stifel Nicolaus set a $8.00 target price on Westrock Coffee in a research note on Friday, May 8th. Finally, Weiss Ratings raised Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th.

Westrock Coffee Price Performance

Shares of NASDAQ:WEST opened at $8.12 on Monday. The firm has a market capitalization of $786.67 million, a PE ratio of -10.83 and a beta of 0.90. The business has a 50-day moving average of $8.09 and a two-hundred day moving average of $6.21. Westrock Coffee has a 12 month low of $3.59 and a 12 month high of $10.19.

Westrock Coffee (NASDAQ:WEST) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.04) earnings per share 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 business had revenue of $308.83 million for the quarter, compared to analyst estimates of $285.12 million. As a group, research analysts anticipate that Westrock Coffee will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other Westrock Coffee news, Director Joe T. Ford acquired 15,000 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were bought at an average cost 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 $2,320,500. This trade represents a 5.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders purchased 34,500 shares of company stock worth $290,715. 25.40% of the stock is owned by company insiders.

Institutional Trading of Westrock Coffee

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new stake in shares of Westrock Coffee in the first quarter worth $166,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Westrock Coffee by 10.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,292 shares of the company’s stock valued at $154,000 after acquiring an additional 2,003 shares during the last quarter. Rhumbline Advisers grew its holdings in Westrock Coffee by 8.1% during the 2nd quarter. Rhumbline Advisers now owns 49,510 shares of the company’s stock worth $284,000 after acquiring an additional 3,723 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Westrock Coffee by 199.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock worth $36,000 after acquiring an additional 4,136 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Westrock Coffee in the 2nd quarter worth about $104,000. Institutional investors and hedge funds 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.