Analysts Set Westrock Coffee Company (NASDAQ:WEST) Price Target at $7.00

Westrock Coffee Company (NASDAQ:WEST) has earned an average recommendation of “Hold” from the five ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $7.00.

Several analysts have issued reports on the stock. Weiss Ratings reissued 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. Telsey Advisory Group reissued an “outperform” rating and issued a $7.00 price objective on shares of Westrock Coffee in a research note on Monday, March 9th. Wall Street Zen raised shares of Westrock Coffee from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Finally, Stifel Nicolaus decreased their price objective on shares of Westrock Coffee from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, March 11th.

Insider Transactions at Westrock Coffee

In other news, Director Joe T. Ford acquired 55,000 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was acquired at an average price of $4.60 per share, with a total value of $253,000.00. Following the completion of the purchase, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 27.70% of the stock is currently owned by insiders.

Institutional Trading of Westrock Coffee

Several institutional investors have recently added to or reduced their stakes in WEST. Agman Capital LLC bought a new stake in Westrock Coffee in the fourth quarter worth about $3,007,000. Millennium Management LLC raised its stake in shares of 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 acquiring an additional 356,118 shares in the last quarter. CastleKnight Management LP raised its stake in shares of Westrock Coffee by 44.8% during the fourth quarter. CastleKnight Management LP now owns 575,000 shares of the company’s stock valued at $2,340,000 after acquiring an additional 178,020 shares in the last quarter. Piedmont Capital Management LLC NC bought a new stake in shares of Westrock Coffee during the fourth quarter valued at approximately $645,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of Westrock Coffee by 189.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 176,929 shares of the company’s stock valued at $720,000 after acquiring an additional 115,777 shares in the last quarter. Institutional investors own 45.08% of the company’s stock.

Westrock Coffee Trading Up 8.2%

WEST opened at $5.95 on Friday. The firm has a market cap of $576.44 million, a P/E ratio of -6.26 and a beta of 0.49. Westrock Coffee has a 12 month low of $3.59 and a 12 month high of $7.92. The company has a current ratio of 0.96, a quick ratio of 0.48 and a debt-to-equity ratio of 37.87. The stock has a 50-day moving average of $4.56 and a 200 day moving average of $4.46.

Westrock Coffee (NASDAQ:WEST) last released its quarterly earnings results on Tuesday, March 10th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.11). The company had revenue of $339.47 million during the quarter, compared to analysts’ expectations of $317.40 million. Westrock Coffee had a negative return on equity of 233.53% and a negative net margin of 7.61%. As a group, research analysts forecast that Westrock Coffee will post -0.16 EPS for the current year.

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.