Westrock Coffee (NASDAQ:WEST) Stock Price Up 5.1% - Still a Buy?

Key Points

• Westrock Coffee's shares increased by 5.1% to a price of $5.53, despite a significant drop in trading volume, declining to 37,210 shares compared to the average of 341,195 shares.
• Research analysts have a consensus rating of "Buy" on Westrock Coffee, with an average target price of $10.60, indicating optimism for future performance.
• Westrock Coffee reported a revenue of $280.86 million for the latest quarter, exceeding analyst estimates of $238.34 million, despite a negative earnings per share of ($0.12).

Westrock Coffee Company (NASDAQ:WEST - Get Free Report)'s stock price shot up 5.1% during mid-day trading on Wednesday . The company traded as high as $5.43 and last traded at $5.53. 37,210 shares traded hands during trading, a decline of 89% from the average session volume of 341,195 shares. The stock had previously closed at $5.26.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on WEST. Wall Street Zen upgraded Westrock Coffee from a "sell" rating to a "hold" rating in a research report on Friday, August 22nd. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $10.00 target price on shares of Westrock Coffee in a research note on Tuesday, August 5th. Five analysts have rated the stock with a Buy rating, According to data from MarketBeat, Westrock Coffee currently has a consensus rating of "Buy" and an average target price of $10.60.

Westrock Coffee Price Performance

The company has a debt-to-equity ratio of 23.42, a current ratio of 1.04 and a quick ratio of 0.50. The stock's 50-day moving average is $6.13 and its 200 day moving average is $6.35.

Westrock Coffee (NASDAQ:WEST - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.14) by $0.02. The business had revenue of $280.86 million during the quarter, compared to analysts' expectations of $238.34 million. Westrock Coffee had a negative net margin of 9.28% and a negative return on equity of 64.79%. As a group, sell-side analysts forecast that Westrock Coffee Company will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Westrock Coffee news, Director Joe T. Ford purchased 5,000 shares of Westrock Coffee stock in a transaction that occurred on Tuesday, September 2nd. The stock was acquired at an average price of $5.30 per share, for a total transaction of $26,500.00. Following the completion of the acquisition, the director owned 413,916 shares of the company's stock, valued at approximately $2,193,754.80. This trade represents a 1.22% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 27.70% of the company's stock.

Institutional Investors Weigh In On Westrock Coffee

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp increased its holdings in Westrock Coffee by 2.3% in the fourth quarter. Northern Trust Corp now owns 300,712 shares of the company's stock valued at $1,931,000 after purchasing an additional 6,762 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Westrock Coffee during the 4th quarter worth $37,000. Bank of America Corp DE lifted its stake in Westrock Coffee by 76.9% in the fourth quarter. Bank of America Corp DE now owns 76,401 shares of the company's stock worth $490,000 after purchasing an additional 33,212 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Westrock Coffee by 88.3% during the fourth quarter. Deutsche Bank AG now owns 42,294 shares of the company's stock valued at $272,000 after acquiring an additional 19,829 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Westrock Coffee by 198.9% during the fourth quarter. Millennium Management LLC now owns 589,450 shares of the company's stock valued at $3,784,000 after buying an additional 392,214 shares during the period. 45.08% of the stock is currently owned by institutional investors and hedge funds.

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.