Coffee (NASDAQ:JVA) Upgraded to “Buy” at Wall Street Zen

Coffee (NASDAQ:JVA) was upgraded by equities research analysts at Wall Street Zen to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

JVA has been the topic of several other research reports. Weiss Ratings raised shares of Coffee from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. DA Davidson set a $10.00 price objective on Coffee in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.50.

Coffee Stock Down 6.3%

JVA opened at $4.48 on Friday. The business has a fifty day simple moving average of $3.98 and a 200-day simple moving average of $3.96. The firm has a market cap of $25.58 million, a P/E ratio of 5.33 and a beta of 1.41. Coffee has a 52 week low of $2.93 and a 52 week high of $5.03.

Coffee (NASDAQ:JVA) last released its quarterly earnings results on Friday, September 11th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.01 by $0.34. Coffee had a net margin of 4.85% and a return on equity of 16.20%. The firm had revenue of $21.69 million during the quarter, compared to the consensus estimate of $23.00 million.

Coffee announced that its board has initiated a share buyback plan on Wednesday, October 7th that allows the company to repurchase $2.50 million in shares. This repurchase authorization allows the company to reacquire up to 11% of its shares through open market purchases. Share repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Coffee

A hedge fund recently bought a new position in Coffee stock. Empowered Funds LLC purchased a new position in Coffee Holding Co., Inc. (NASDAQ:JVA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 42,219 shares of the company’s stock, valued at approximately $141,000. Empowered Funds LLC owned 0.74% of Coffee as of its most recent filing with the Securities and Exchange Commission.

About Coffee

Coffee Holding Co, Inc (NASDAQ:JVA) is a specialty coffee processor, roaster, packager and distributor headquartered in Staten Island, New York. The company supplies coffee products to retail, foodservice and private-label customers, offering roasted whole-bean and ground coffee as well as other coffee formats.

The company markets products under its own brands and also produces coffee for third-party customers. Its activities include sourcing green coffee beans, roasting and blending coffee, packaging finished products, and distributing them through grocery, foodservice and wholesale channels.

Coffee Holding was founded in 1975 and has expanded its business through branded products, private-label production and acquisitions.