Wall Street Zen Downgrades Westrock Coffee (NASDAQ:WEST) to Sell

Westrock Coffee (NASDAQ:WEST - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Friday.

A number of other equities research analysts have also recently issued reports on the stock. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $9.00 price objective on shares of Westrock Coffee in a research note on Tuesday, May 6th. Benchmark restated a "buy" rating and set a $10.00 price target on shares of Westrock Coffee in a research report on Wednesday, April 16th. Finally, Stifel Nicolaus decreased their price objective on Westrock Coffee from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.40.

Westrock Coffee Stock Performance

Shares of WEST remained flat at $5.95 during midday trading on Friday. The stock had a trading volume of 367,257 shares, compared to its average volume of 310,046. The company has a quick ratio of 0.57, a current ratio of 1.18 and a debt-to-equity ratio of 5.69. The firm has a market capitalization of $563.11 million, a P/E ratio of -6.54 and a beta of 0.59. The business has a 50-day moving average price of $6.56 and a 200-day moving average price of $6.51. Westrock Coffee has a 1 year low of $5.28 and a 1 year high of $10.40.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.05). Westrock Coffee had a negative return on equity of 41.92% and a negative net margin of 9.61%. The firm had revenue of $213.80 million during the quarter, compared to the consensus estimate of $213.85 million. Research analysts forecast that Westrock Coffee will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Westrock Coffee

In other Westrock Coffee news, Director Joe T. Ford purchased 70,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was acquired at an average price of $7.47 per share, with a total value of $522,900.00. Following the transaction, the director now directly owns 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders bought 105,000 shares of company stock valued at $782,400 in the last quarter. Company insiders own 42.10% of the company's stock.

Institutional Investors Weigh In On Westrock Coffee

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Westrock Coffee by 4.9% during the first quarter. Vanguard Group Inc. now owns 2,950,639 shares of the company's stock valued at $21,304,000 after acquiring an additional 137,646 shares in the last quarter. Geode Capital Management LLC increased its position in Westrock Coffee by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 841,226 shares of the company's stock valued at $5,402,000 after purchasing an additional 34,901 shares during the period. Millennium Management LLC raised its holdings in Westrock Coffee by 198.9% in the 4th quarter. Millennium Management LLC now owns 589,450 shares of the company's stock worth $3,784,000 after purchasing an additional 392,214 shares in the last quarter. Northern Trust Corp lifted its position in shares of Westrock Coffee by 2.3% in the 4th quarter. Northern Trust Corp now owns 300,712 shares of the company's stock worth $1,931,000 after purchasing an additional 6,762 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Westrock Coffee by 2.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 290,306 shares of the company's stock worth $2,096,000 after purchasing an additional 5,653 shares during the period. 45.08% of the stock is currently owned by institutional investors.

About Westrock Coffee

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.