Westrock Coffee Company (NASDAQ:WEST) Receives Average Recommendation of "Hold" from Brokerages

Key Points

• Analyst consensus is “Hold”: Of five covering firms, three rate Westrock Coffee a buy, one holds, and one recommends selling. The average 12-month price target is $9.00, with recent targets ranging from $8 to $10.
• Quarterly results beat expectations: Westrock reported a quarterly loss of $0.04 per share versus the expected $0.13 loss, while revenue of $308.83 million exceeded the $285.12 million consensus estimate. Analysts forecast a full-year loss of $0.18 per share.
• Insiders and institutions have been buying: A company director purchased 15,000 shares, while insiders bought 34,500 shares during the quarter. Institutional investors own approximately 45.08% of the stock, compared with 25.40% held by insiders.

Shares of Westrock Coffee Company (NASDAQ:WEST - Get Free Report) have been given an average rating of "Hold" by the five research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $9.00.

A number of equities analysts have recently issued reports on the company. Weiss Ratings upgraded Westrock Coffee from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, May 7th. Zacks Research upgraded Westrock Coffee from a "strong sell" rating to a "hold" rating in a research report on Monday, May 11th. Stifel Nicolaus set a $8.00 target price on Westrock Coffee in a report on Friday, May 8th. Benchmark raised their target price on Westrock Coffee from $8.00 to $10.00 and gave the stock a "buy" rating in a research report on Monday, May 11th. Finally, Telsey Advisory Group boosted their price target on Westrock Coffee from $7.00 to $9.00 and gave the company an "outperform" rating in a research note on Friday, May 8th.

Westrock Coffee Stock Performance

WEST opened at $7.60 on Monday. The stock has a market capitalization of $736.28 million, a P/E ratio of -10.13 and a beta of 0.90. The company's 50-day simple moving average is $8.11 and its two-hundred day simple moving average is $6.07. Westrock Coffee has a 52-week low of $3.59 and a 52-week high of $10.19.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.09. The company had revenue of $308.83 million for the quarter, compared to analysts' expectations of $285.12 million. Westrock Coffee had a negative net margin of 5.59% and a negative return on equity of 2,145.68%. Research analysts forecast that Westrock Coffee will post -0.18 EPS for the current fiscal year.

Insider Activity

In other Westrock Coffee news, Director Joe T. Ford bought 15,000 shares of the business's stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $8.50 per share, for a total transaction of $127,500.00. Following the completion of the transaction, the director owned 273,000 shares of the company's stock, valued at $2,320,500. This represents a 5.81% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have purchased a total of 34,500 shares of company stock valued at $290,715 over the last quarter. Company insiders own 25.40% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WEST. Agman Capital LLC bought a new stake in Westrock Coffee during the 4th quarter worth approximately $3,007,000. Millennium Management LLC boosted its position in shares of Westrock Coffee by 111.2% in the fourth quarter. Millennium Management LLC now owns 676,400 shares of the company's stock worth $2,753,000 after purchasing an additional 356,118 shares during the period. Lee Danner & Bass Inc. purchased a new stake in shares of Westrock Coffee in the first quarter worth $1,203,000. CastleKnight Management LP increased its stake in shares of Westrock Coffee by 44.8% in the fourth quarter. CastleKnight Management LP now owns 575,000 shares of the company's stock worth $2,340,000 after purchasing an additional 178,020 shares in the last quarter. Finally, Piedmont Capital Management LLC NC bought a new stake in shares of Westrock Coffee during the 4th quarter valued at $645,000. Hedge funds and other institutional investors own 45.08% of the company's stock.

Westrock Coffee Company Profile

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.

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