Westrock Coffee (NASDAQ:WEST) Reaches New 1-Year High - Here's Why

Key Points

• Westrock Coffee reached a 52-week high, trading as high as $10.57, above its prior close of $10.36.
• Analyst views are mixed: the stock has three Buy, one Hold, and one Sell rating, with an average rating of Hold and a consensus price target of $10.
• The company’s latest quarter fell short of expectations, reporting a loss of $0.10 per share and revenue of $305.66 million, below analyst estimates for both.

Westrock Coffee Company (NASDAQ:WEST - Get Free Report) hit a new 52-week high on Thursday. The stock traded as high as $10.57 and last traded at $10.5350, with a volume of 26,010 shares changing hands. The stock had previously closed at $10.36.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WEST shares. Stifel Nicolaus set a $9.00 price objective on shares of Westrock Coffee in a research note on Friday, August 7th. Telsey Advisory Group raised their target price on shares of Westrock Coffee from $10.00 to $11.00 and gave the company an "outperform" rating in a research note on Wednesday, August 19th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Westrock Coffee in a report on Monday. Finally, Benchmark reaffirmed a "buy" rating on shares of Westrock Coffee in a research note on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Westrock Coffee has an average rating of "Hold" and a consensus price target of $10.00.

Westrock Coffee Stock Performance

The firm has a market capitalization of $1.00 billion, a P/E ratio of -15.52 and a beta of 0.84. The company has a 50-day simple moving average of $8.42 and a two-hundred day simple moving average of $6.96.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). The firm had revenue of $305.66 million during the quarter, compared to analysts' expectations of $318.80 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 4.88%. As a group, research analysts forecast that Westrock Coffee Company will post -0.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Westrock Coffee

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Westrock Coffee during the second quarter valued at $22,500,000. Jupiter Topco LLC purchased a new position in shares of Westrock Coffee in the 2nd quarter worth about $1,656,000. Bank of America Corp DE bought a new position in Westrock Coffee in the 2nd quarter worth about $3,049,000. Algert Global LLC bought a new position in Westrock Coffee in the 2nd quarter worth about $2,816,000. Finally, Bank of New York Mellon Corp bought a new position in Westrock Coffee in the 2nd quarter worth about $674,000. 45.08% of the stock is owned by institutional investors.

Westrock Coffee Company Profile

Westrock Coffee Company is a global provider of integrated coffee, tea, flavors, extracts and ready-to-drink beverage solutions. The company sources raw materials from producing regions, then provides processing, roasting, blending, extraction, packaging and distribution services for beverage brands and other commercial customers.

Its products and services support a range of beverage formats, including roasted and ground coffee, single-serve coffee, tea, liquid coffee and tea extracts, ready-to-drink beverages, and customized flavor systems.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.