Westrock Coffee Company (NASDAQ:WEST - Get Free Report)'s share price hit a new 52-week high on Saturday after Weiss Ratings upgraded the stock from a sell (e+) rating to a sell (d-) rating. The stock traded as high as $8.62 and last traded at $8.25, with a volume of 5056231 shares trading hands. The stock had previously closed at $5.90.
Several other analysts have also commented on the company. Telsey Advisory Group raised their price objective on Westrock Coffee from $7.00 to $9.00 and gave the company an "outperform" rating in a report on Friday. Wall Street Zen raised Westrock Coffee from a "sell" rating to a "hold" rating in a research note on Saturday, March 14th. Zacks Research lowered Westrock Coffee from a "hold" rating to a "strong sell" rating in a research report on Friday, March 20th. Finally, Stifel Nicolaus set a $8.00 price target on shares of Westrock Coffee in a research note on Friday. Three research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $8.50.
Get Our Latest Stock Analysis on WEST
Insiders Place Their Bets
In related news, Director Joe T. Ford purchased 55,000 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The shares were purchased at an average cost of $4.60 per share, with a total value of $253,000.00. Following the purchase, the director owned 533,916 shares of the company's stock, valued at $2,456,013.60. This represents a 11.48% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 27.70% of the company's stock.
Trending Headlines about Westrock Coffee
Here are the key news stories impacting Westrock Coffee this week:
Institutional Trading of Westrock Coffee
A number of institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in shares of Westrock Coffee during the first quarter worth approximately $166,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Westrock Coffee by 10.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,292 shares of the company's stock valued at $154,000 after purchasing an additional 2,003 shares in the last quarter. Rhumbline Advisers lifted its holdings in Westrock Coffee by 8.1% in the 2nd quarter. Rhumbline Advisers now owns 49,510 shares of the company's stock valued at $284,000 after purchasing an additional 3,723 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Westrock Coffee by 199.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company's stock worth $36,000 after purchasing an additional 4,136 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Westrock Coffee during the second quarter worth $104,000. 45.08% of the stock is owned by institutional investors and hedge funds.
Westrock Coffee Price Performance
The stock's fifty day moving average price is $4.72 and its 200-day moving average price is $4.55. The firm has a market cap of $799.26 million, a PE ratio of -11.00 and a beta of 0.78. The company has a debt-to-equity ratio of 37.87, a current ratio of 0.96 and a quick ratio of 0.48.
Westrock Coffee (NASDAQ:WEST - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.09. The firm had revenue of $308.83 million for the quarter, compared to the consensus estimate of $285.13 million. Westrock Coffee had a negative net margin of 5.59% and a negative return on equity of 439.15%. As a group, equities analysts expect that Westrock Coffee Company will post -0.16 EPS for the current fiscal year.
Westrock Coffee Company Profile
(
Get Free Report)
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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