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

Westrock Coffee (NASDAQ:WEST) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report released on Monday,Zacks.com reports.

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

Westrock Coffee Stock Performance

NASDAQ WEST opened at $8.65 on Monday. The company has a fifty day simple moving average of $4.95 and a 200 day simple moving average of $4.62. Westrock Coffee has a 12-month low of $3.59 and a 12-month high of $8.98. The company has a current ratio of 0.97, a quick ratio of 0.48 and a debt-to-equity ratio of 37.87. The company has a market cap of $838.01 million, a P/E ratio of -11.53 and a beta of 0.78.

Westrock Coffee (NASDAQ:WEST) last posted 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 net margin of 5.59% and a negative return on equity of 2,145.68%. The business had revenue of $308.83 million during the quarter, compared to the consensus estimate of $285.13 million. Sell-side analysts predict that Westrock Coffee will post -0.18 earnings per share for the current fiscal year.

Insider Transactions at Westrock Coffee

In other news, Director Joe T. Ford acquired 55,000 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were acquired at an average cost of $4.60 per share, for a total transaction of $253,000.00. Following the purchase, the director owned 533,916 shares of the company’s stock, valued at approximately $2,456,013.60. The trade was a 11.48% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 27.70% of the company’s stock.

Institutional Investors Weigh In On Westrock Coffee

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WEST. EverSource Wealth Advisors LLC raised its stake in 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 acquiring an additional 4,136 shares during the period. BNP Paribas Financial Markets increased its position in shares of Westrock Coffee by 79.2% during 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 during the period. Waterloo Capital L.P. bought a new stake in shares of Westrock Coffee during the fourth quarter valued at about $43,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Westrock Coffee during the fourth quarter valued at about $47,000. Finally, Hexagon Capital Partners LLC bought a new stake in shares of Westrock Coffee during the fourth quarter valued at about $48,000. 45.08% of the stock is currently owned by institutional investors.

About Westrock Coffee

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.