Westrock Coffee (NASDAQ:WEST) Trading 3.8% Higher – Still a Buy?
by Sarita Garza · The Markets DailyWestrock Coffee Company (NASDAQ:WEST – Get Free Report) rose 3.8% during mid-day trading on Tuesday . The stock traded as high as $5.05 and last traded at $4.97. Approximately 293,929 shares were traded during mid-day trading, a decline of 12% from the average daily volume of 335,308 shares. The stock had previously closed at $4.79.
Wall Street Analyst Weigh In
WEST has been the topic of several analyst reports. Stifel Nicolaus dropped their target price on shares of Westrock Coffee from $10.00 to $7.00 and set a “buy” rating on the stock in a research note on Wednesday, March 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Westrock Coffee in a research note on Wednesday, January 21st. Zacks Research downgraded shares of Westrock Coffee from a “hold” rating to a “strong sell” rating in a research note on Friday, March 20th. Wall Street Zen upgraded shares of Westrock Coffee from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Telsey Advisory Group reiterated an “outperform” rating and issued a $7.00 target price on shares of Westrock Coffee in a research note on Monday, March 9th. Three investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.00.
Get Our Latest Research Report on Westrock Coffee
Westrock Coffee Stock Performance
The stock’s 50-day moving average is $4.53 and its two-hundred day moving average is $4.45. The company has a current ratio of 0.96, a quick ratio of 0.48 and a debt-to-equity ratio of 37.87.
Westrock Coffee (NASDAQ:WEST – Get Free Report) last issued its quarterly earnings data on Tuesday, March 10th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.11). The company had revenue of $339.47 million for the quarter, compared to the consensus estimate of $317.40 million. Westrock Coffee had a negative net margin of 7.61% and a negative return on equity of 233.53%. On average, research analysts anticipate that Westrock Coffee Company will post -0.3 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director Joe T. Ford acquired 55,000 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were bought at an average price of $4.60 per share, for a total transaction of $253,000.00. Following the completion of the transaction, the director directly owned 533,916 shares in the company, valued at approximately $2,456,013.60. This trade represents a 11.48% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 27.70% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC bought a new position in Westrock Coffee during the fourth quarter valued at approximately $57,000. Mercer Global Advisors Inc. ADV bought a new position in Westrock Coffee during the fourth quarter valued at approximately $47,000. Susquehanna Portfolio Strategies LLC purchased a new stake in Westrock Coffee during the fourth quarter valued at approximately $289,000. Private Capital Management LLC increased its holdings in Westrock Coffee by 33.3% during the fourth quarter. Private Capital Management LLC now owns 60,000 shares of the company’s stock valued at $244,000 after buying an additional 15,000 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in Westrock Coffee by 111.2% during the fourth quarter. Millennium Management LLC now owns 676,400 shares of the company’s stock valued at $2,753,000 after buying an additional 356,118 shares during the last quarter. Institutional investors own 45.08% of the company’s stock.
Westrock Coffee Company Profile
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.