Telsey Advisory Group Reaffirms “Outperform” Rating for Westrock Coffee (NASDAQ:WEST)

Telsey Advisory Group restated their outperform rating on shares of Westrock Coffee (NASDAQ:WESTFree Report) in a report published on Monday, Benzinga reports. Telsey Advisory Group currently has a $14.00 target price on the stock.

Westrock Coffee Price Performance

Westrock Coffee stock opened at $8.62 on Monday. Westrock Coffee has a fifty-two week low of $7.93 and a fifty-two week high of $14.71. The stock has a 50 day moving average price of $9.12. The company has a debt-to-equity ratio of 16.81, a quick ratio of 0.70 and a current ratio of 1.38. The stock has a market capitalization of $755.20 million, a P/E ratio of -6.48 and a beta of 0.34.

Westrock Coffee (NASDAQ:WESTGet Free Report) last announced its earnings results on Wednesday, August 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.18). Westrock Coffee had a negative net margin of 8.58% and a negative return on equity of 310.68%. The firm had revenue of $224.69 million for the quarter, compared to analyst estimates of $241.65 million. On average, analysts expect that Westrock Coffee will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling at Westrock Coffee

In related news, Director Joe T. Ford purchased 4,317 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was acquired at an average cost of $10.85 per share, for a total transaction of $46,839.45. Following the completion of the acquisition, the director now owns 365,000 shares in the company, valued at approximately $3,960,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Joe T. Ford purchased 10,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was bought at an average cost of $10.19 per share, with a total value of $101,900.00. Following the purchase, the director now directly owns 375,000 shares of the company’s stock, valued at $3,821,250. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joe T. Ford purchased 4,317 shares of the stock in a transaction that occurred on Monday, August 21st. The stock was purchased at an average cost of $10.85 per share, with a total value of $46,839.45. Following the purchase, the director now owns 365,000 shares in the company, valued at approximately $3,960,250. The disclosure for this purchase can be found here. Insiders have acquired a total of 22,817 shares of company stock valued at $233,709 in the last 90 days. 42.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Westrock Coffee

A number of institutional investors have recently added to or reduced their stakes in WEST. Portside Wealth Group LLC acquired a new position in shares of Westrock Coffee during the 2nd quarter worth $1,732,000. Barclays PLC acquired a new position in Westrock Coffee during the second quarter worth $106,000. Gladius Capital Management LP bought a new position in Westrock Coffee during the third quarter valued at about $29,000. DAVENPORT & Co LLC lifted its position in shares of Westrock Coffee by 29.9% in the third quarter. DAVENPORT & Co LLC now owns 158,675 shares of the company’s stock worth $1,406,000 after buying an additional 36,550 shares during the last quarter. Finally, Raymond James & Associates boosted its stake in shares of Westrock Coffee by 70.0% during the 3rd quarter. Raymond James & Associates now owns 272,544 shares of the company’s stock worth $2,415,000 after acquiring an additional 112,254 shares in the last quarter. 46.40% of the stock is currently owned by institutional investors and hedge funds.

About Westrock Coffee

(Get Free Report)

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 and Traceability. The company provides coffee sourcing, supply chain management, product development, roasting, packaging, and distribution services to the retail, food service and restaurant, convenience store and travel center, non-commercial account, CPG, and hospitality industries.

Further Reading

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