Westrock Coffee (NASDAQ:WEST) Stock Price Up 14.7% Following Strong Earnings

Shares of Westrock Coffee Company (NASDAQ:WEST) rose 14.7% on Friday following a better than expected earnings announcement. The stock traded as high as $7.65 and last traded at $7.64. Approximately 166,158 shares changed hands during trading, a decline of 42% from the average daily volume of 287,426 shares. The stock had previously closed at $6.66.

The company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.02. Westrock Coffee had a negative net margin of 9.28% and a negative return on equity of 51.77%. The business had revenue of $280.86 million for the quarter, compared to the consensus estimate of $238.34 million.

Analysts Set New Price Targets

WEST has been the topic of a number of research reports. Stifel Nicolaus cut their target price on shares of Westrock Coffee from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Wall Street Zen downgraded shares of Westrock Coffee from a “hold” rating to a “sell” rating in a research note on Saturday. Telsey Advisory Group reissued an “outperform” rating and issued a $10.00 target price on shares of Westrock Coffee in a research note on Tuesday. Finally, Benchmark reissued a “buy” rating and issued a $10.00 target price on shares of Westrock Coffee in a research note on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.60.

Insiders Place Their Bets

In other news, Director Joe T. Ford purchased 25,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average cost of $7.44 per share, with a total value of $186,000.00. Following the acquisition, the director owned 371,445 shares in the company, valued at approximately $2,763,550.80. This trade represents a 7.22% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have acquired 105,000 shares of company stock worth $782,400. 42.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Westrock Coffee

Large investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in Westrock Coffee during the 4th quarter valued at $37,000. KLP Kapitalforvaltning AS acquired a new position in Westrock Coffee during the 4th quarter worth $47,000. HHM Wealth Advisors LLC grew its holdings in Westrock Coffee by 130.9% during the 1st quarter. HHM Wealth Advisors LLC now owns 8,080 shares of the company’s stock worth $58,000 after acquiring an additional 4,580 shares in the last quarter. State of Wyoming acquired a new position in Westrock Coffee during the 1st quarter worth $62,000. Finally, Trexquant Investment LP acquired a new position in Westrock Coffee during the 1st quarter worth $83,000. 45.08% of the stock is owned by institutional investors and hedge funds.

Westrock Coffee Stock Performance

The company has a market capitalization of $661.53 million, a price-to-earnings ratio of -7.44 and a beta of 0.53. The company has a debt-to-equity ratio of 5.69, a quick ratio of 0.57 and a current ratio of 1.18. The company’s fifty day simple moving average is $6.50 and its two-hundred day simple moving average is $6.52.

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.