Westrock Coffee (NASDAQ:WEST) Receives Buy Rating from Benchmark

Benchmark reissued their buy rating on shares of Westrock Coffee (NASDAQ:WEST - Free Report) in a research note issued to investors on Monday, Benzinga reports. Benchmark currently has a $12.00 price objective on the stock.

Separately, Telsey Advisory Group restated an outperform rating and set a $13.00 price objective on shares of Westrock Coffee in a report on Monday, May 6th.

Westrock Coffee Stock Performance

WEST stock traded up $0.17 during mid-day trading on Monday, reaching $10.67. 167,623 shares of the stock traded hands, compared to its average volume of 178,634. The firm has a market capitalization of $939.28 million, a PE ratio of -15.00 and a beta of 0.46. The business has a 50-day moving average of $10.06 and a two-hundred day moving average of $9.79. Westrock Coffee has a 52 week low of $6.88 and a 52 week high of $11.91. The company has a quick ratio of 0.68, a current ratio of 1.31 and a debt-to-equity ratio of 1.96.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last announced its earnings results on Tuesday, March 12th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). Westrock Coffee had a negative net margin of 6.33% and a negative return on equity of 43.76%. The business had revenue of $214.97 million for the quarter, compared to the consensus estimate of $222.20 million. As a group, equities analysts predict that Westrock Coffee will post -0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its holdings in shares of Westrock Coffee by 70.0% during the third quarter. Raymond James & Associates now owns 272,544 shares of the company's stock valued at $2,415,000 after acquiring an additional 112,254 shares during the period. Bank of New York Mellon Corp grew its stake in Westrock Coffee by 15.8% during the third quarter. Bank of New York Mellon Corp now owns 82,366 shares of the company's stock worth $730,000 after buying an additional 11,222 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Westrock Coffee by 24.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,151 shares of the company's stock worth $90,000 after buying an additional 2,018 shares in the last quarter. First Horizon Advisors Inc. bought a new position in shares of Westrock Coffee in the third quarter valued at approximately $25,000. Finally, Panagora Asset Management Inc. acquired a new position in shares of Westrock Coffee in the 3rd quarter worth approximately $98,000. Institutional investors and hedge funds own 45.08% of the company's stock.

About Westrock Coffee

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.