Westrock Coffee (NASDAQ:WEST) Stock Price Up 7.1% - Still a Buy?

Key Points

• Westrock Coffee shares rose 7.1% in Thursday trading, reaching an intraday high of $7.66 and last trading around $7.70. Volume was well below average, with about 166,290 shares traded versus the normal 550,809.
• Analysts have turned more positive on the stock, with Benchmark and Telsey Advisory Group both raising price targets and issuing buy/outperform views. The consensus rating remains Hold, but the average target price sits at $9.00.
• Recent earnings came in better than expected, as Westrock Coffee reported a smaller-than-expected quarterly loss and revenue above forecasts. Insider buying also continued, including a director purchase of 15,000 shares at $8.50 each.

Westrock Coffee Company (NASDAQ:WEST - Get Free Report)'s share price was up 7.1% during mid-day trading on Thursday . The company traded as high as $7.66 and last traded at $7.70. Approximately 166,290 shares changed hands during mid-day trading, a decline of 70% from the average session volume of 550,809 shares. The stock had previously closed at $7.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Benchmark raised their price target on shares of Westrock Coffee from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Telsey Advisory Group boosted their target price on shares of Westrock Coffee from $7.00 to $9.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Zacks Research upgraded shares of Westrock Coffee from a "strong sell" rating to a "hold" rating in a report on Monday, May 11th. Weiss Ratings upgraded Westrock Coffee from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, May 7th. Finally, Stifel Nicolaus set a $8.00 target price on Westrock Coffee in a report on Friday, May 8th. Three research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Westrock Coffee has a consensus rating of "Hold" and an average target price of $9.00.

Westrock Coffee Stock Up 6.0%

The company has a market cap of $738.52 million, a price-to-earnings ratio of -10.17 and a beta of 0.90. The firm has a 50 day moving average price of $8.18 and a two-hundred day moving average price of $5.89.

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

Insider Activity at Westrock Coffee

In other news, Director Joe T. Ford acquired 15,000 shares of the firm's stock in a transaction dated 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 directly owned 273,000 shares in the company, valued at $2,320,500. This represents a 5.81% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have acquired 34,500 shares of company stock valued at $290,715. Corporate insiders own 25.40% of the company's stock.

Institutional Trading of Westrock Coffee

A number of large investors have recently bought and sold shares of WEST. Bank of America Corp DE increased its stake in shares of Westrock Coffee by 2.2% in the 1st quarter. Bank of America Corp DE now owns 69,801 shares of the company's stock valued at $297,000 after acquiring an additional 1,477 shares in the last quarter. Red Door Wealth Management LLC grew its holdings in Westrock Coffee by 7.7% in the first quarter. Red Door Wealth Management LLC now owns 28,000 shares of the company's stock worth $119,000 after purchasing an additional 2,000 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Westrock Coffee by 10.4% during the first 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 during the period. MetLife Investment Management LLC boosted its position in shares of Westrock Coffee by 14.9% during the 4th quarter. MetLife Investment Management LLC now owns 20,863 shares of the company's stock worth $85,000 after purchasing an additional 2,704 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Westrock Coffee by 10.1% in the 3rd quarter. Alliancebernstein L.P. now owns 31,720 shares of the company's stock valued at $154,000 after buying an additional 2,900 shares during the period. 45.08% of the stock is currently owned by institutional investors and hedge funds.

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.

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