Westrock Coffee (NASDAQ:WEST) Given New $9.00 Price Target at Telsey Advisory Group

Key Points

• Telsey Advisory Group raised its price target to $9.00 (from $7.00) and maintains an "outperform" rating, implying roughly a 10% upside from the stock's recent price.
• Westrock reported Q1 results that beat analysts' estimates (EPS -$0.09 vs. -$0.13; revenue $308.8M vs. $285.1M) but remains unprofitable with a negative net margin and consensus expectations of -$0.16 EPS for the year.
• Insiders increased positions—director Joe T. Ford bought 55,000 shares at $4.60—leaving insiders with 27.7% ownership while institutional investors hold about 45.1% of the stock.

Westrock Coffee (NASDAQ:WEST - Get Free Report) had its target price hoisted by equities researchers at Telsey Advisory Group from $7.00 to $9.00 in a research report issued on Friday. The brokerage currently has an "outperform" rating on the stock. Telsey Advisory Group's price target would indicate a potential upside of 10.17% from the stock's current price.

A number of other brokerages have also recently issued reports on WEST. Zacks Research cut Westrock Coffee from a "hold" rating to a "strong sell" rating in a report on Friday, March 20th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Westrock Coffee in a report on Monday, April 20th. Stifel Nicolaus lowered their price target on shares of Westrock Coffee from $10.00 to $7.00 and set a "buy" rating on the stock in a report on Wednesday, March 11th. Finally, Wall Street Zen upgraded shares of Westrock Coffee from a "sell" rating to a "hold" rating in a research report on Saturday, March 14th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $8.00.

Westrock Coffee Stock Up 38.5%

WEST opened at $8.17 on Friday. Westrock Coffee has a 12 month low of $3.59 and a 12 month high of $7.92. The company has a market cap of $791.40 million, a PE ratio of -7.66 and a beta of 0.78. The company has a current ratio of 0.96, a quick ratio of 0.48 and a debt-to-equity ratio of 37.87. The company has a 50 day moving average of $4.72 and a 200 day moving average of $4.55.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.13) by $0.04. The business had revenue of $308.83 million for the quarter, compared to analysts' expectations of $285.13 million. Westrock Coffee had a negative net margin of 7.61% and a negative return on equity of 233.53%. On average, sell-side analysts expect that Westrock Coffee will post -0.16 EPS for the current year.

Insider Buying and Selling at Westrock Coffee

In other Westrock Coffee news, Director Joe T. Ford purchased 55,000 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was purchased at an average price of $4.60 per share, for a total transaction of $253,000.00. Following the transaction, the director owned 533,916 shares in the company, valued at $2,456,013.60. The trade was a 11.48% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 27.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Westrock Coffee

Several hedge funds have recently bought and sold shares of WEST. EverSource Wealth Advisors LLC grew its stake in Westrock Coffee by 199.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company's stock worth $36,000 after buying an additional 4,136 shares in the last quarter. BNP Paribas Financial Markets raised its position in shares of Westrock Coffee by 79.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,782 shares of the company's stock valued at $38,000 after buying an additional 3,439 shares in the last quarter. Waterloo Capital L.P. bought a new stake in shares of Westrock Coffee during the 4th quarter worth $43,000. Mercer Global Advisors Inc. ADV bought a new stake in shares of Westrock Coffee during the 4th quarter worth $47,000. Finally, Hexagon Capital Partners LLC purchased a new position in Westrock Coffee in the fourth quarter worth $48,000. 45.08% of the stock is currently owned by institutional investors.

About Westrock Coffee

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.

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.