Westrock Coffee's (WEST) "Buy" Rating Reiterated at Benchmark

Westrock Coffee (NASDAQ:WEST - Get Free Report)'s stock had its "buy" rating restated by analysts at Benchmark in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $10.00 target price on the stock. Benchmark's price target would suggest a potential upside of 80.51% from the company's current price.

Separately, Telsey Advisory Group reissued an "outperform" rating and set a $9.00 price objective on shares of Westrock Coffee in a report on Wednesday, March 12th.

Westrock Coffee Price Performance

NASDAQ WEST traded up $0.03 during trading hours on Wednesday, reaching $5.54. 66,926 shares of the company's stock were exchanged, compared to its average volume of 285,895. The firm has a fifty day moving average of $6.40 and a 200-day moving average of $6.65. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41. Westrock Coffee has a one year low of $5.28 and a one year high of $10.99. The stock has a market cap of $522.02 million, a PE ratio of -6.44 and a beta of 0.47.

Insider Transactions at Westrock Coffee

In other news, COO William A. Ford acquired 15,000 shares of the stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average price of $6.45 per share, for a total transaction of $96,750.00. Following the transaction, the chief operating officer now directly owns 476,190 shares in the company, valued at approximately $3,071,425.50. This represents a 3.25 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 42.10% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WEST. Charles Schwab Investment Management Inc. lifted its holdings in shares of Westrock Coffee by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 284,653 shares of the company's stock valued at $1,827,000 after purchasing an additional 2,010 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Westrock Coffee by 23.9% in the fourth 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 during the period. Barclays PLC boosted its holdings in shares of Westrock Coffee by 6.6% in the fourth quarter. Barclays PLC now owns 61,159 shares of the company's stock valued at $392,000 after buying an additional 3,802 shares during the period. Arvest Bank Trust Division increased its position in shares of Westrock Coffee by 28.4% during the fourth quarter. Arvest Bank Trust Division now owns 22,635 shares of the company's stock worth $145,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Townsquare Capital LLC lifted its position in Westrock Coffee by 46.6% in the 4th quarter. Townsquare Capital LLC now owns 16,133 shares of the company's stock valued at $104,000 after acquiring an additional 5,131 shares in the last quarter. 45.08% of the stock is owned by institutional investors and hedge funds.

Westrock Coffee Company Profile

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.