Westrock Coffee (NASDAQ:WEST) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Key Points

• Westrock Coffee reported a quarterly earnings per share of ($0.12), beating the consensus estimate of (0.14) by $0.02. The company also generated revenue of $280.86 million, surpassing analysts' expectations of $238.34 million.
• The stock of Westrock Coffee closed at $6.99 after trading up $0.33 following the earnings report, with a market capitalization of $661.53 million.
• Insider transactions indicate increased confidence in the company, as Director Joe T. Ford purchased 70,000 shares, increasing his holdings by 25.32%.

Westrock Coffee (NASDAQ:WEST - Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.12) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.02, Zacks reports. The firm had revenue of $280.86 million for the quarter, compared to analysts' expectations of $238.34 million. Westrock Coffee had a negative return on equity of 51.77% and a negative net margin of 9.28%.

Westrock Coffee Stock Performance

NASDAQ WEST traded up $0.33 on Friday, hitting $6.99. 1,062,909 shares of the company's stock were exchanged, compared to its average volume of 336,689. The company has a debt-to-equity ratio of 5.69, a current ratio of 1.18 and a quick ratio of 0.57. The firm's 50-day moving average price is $6.50 and its two-hundred day moving average price is $6.52. Westrock Coffee has a fifty-two week low of $5.28 and a fifty-two week high of $9.70. The firm has a market cap of $661.53 million, a price-to-earnings ratio of -7.44 and a beta of 0.53.

Insider Transactions at Westrock Coffee

In other Westrock Coffee news, Director Joe T. Ford bought 70,000 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were bought at an average price of $7.47 per share, for a total transaction of $522,900.00. Following the transaction, the director owned 346,445 shares of the company's stock, valued at approximately $2,587,944.15. This trade represents a 25.32% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders purchased 105,000 shares of company stock worth $782,400. Insiders own 42.10% of the company's stock.

Hedge Funds Weigh In On Westrock Coffee

An institutional investor recently bought a new position in Westrock Coffee stock. AQR Capital Management LLC bought a new position in shares of Westrock Coffee Company (NASDAQ:WEST - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 22,943 shares of the company's stock, valued at approximately $166,000. Hedge funds and other institutional investors own 45.08% of the company's stock.

Analysts Set New Price Targets

WEST has been the topic of several recent research reports. Stifel Nicolaus dropped their price target on Westrock Coffee from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Telsey Advisory Group restated an "outperform" rating and issued a $10.00 price target on shares of Westrock Coffee in a research report on Tuesday. Benchmark restated a "buy" rating and issued a $10.00 price target on shares of Westrock Coffee in a research report on Wednesday, April 16th. Finally, Wall Street Zen upgraded Westrock Coffee from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.60.

Westrock Coffee Company Profile

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.

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