Wall Street Zen Upgrades Coffee (NASDAQ:JVA) to “Strong-Buy”

Coffee (NASDAQ:JVA) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings upgraded shares of Coffee from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, October 8th. DA Davidson set a $10.00 target price on shares of Coffee in a report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.50.

Coffee Price Performance

Shares of NASDAQ JVA opened at $4.86 on Friday. Coffee has a 52 week low of $2.93 and a 52 week high of $5.20. The firm’s fifty day moving average is $4.26 and its 200 day moving average is $3.90. The company has a market cap of $27.75 million, a price-to-earnings ratio of 5.79 and a beta of 1.42.

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

Coffee announced that its Board of Directors has authorized a share buyback program on Wednesday, October 7th that allows the company to buy back $2.50 million in shares. This repurchase authorization allows the company to buy up to 11% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Coffee stock. Clear Point Advisors Inc. purchased a new stake in shares of Coffee Holding Co., Inc. (NASDAQ:JVA) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 19,968 shares of the company’s stock, valued at approximately $78,000. Clear Point Advisors Inc. owned 0.35% of Coffee at the end of the most recent reporting period.

About Coffee

Coffee Holding Co, Inc (NASDAQ:JVA) is a coffee company engaged in the sourcing, roasting, blending, packaging and distribution of coffee products. The company serves retail, foodservice, wholesale and private-label customers, offering products in a variety of formats, including whole bean, ground and single-serve coffee.

Its portfolio includes branded and private-label coffees marketed through grocery stores, club stores, specialty retailers, restaurants, hospitality businesses and other commercial channels.