Westrock Coffee Company (NASDAQ:WEST – Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $7.54, but opened at $7.11. Westrock Coffee shares last traded at $7.6890, with a volume of 21,303 shares changing hands.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, May 7th. Stifel Nicolaus set a $8.00 price objective on Westrock Coffee in a research note on Friday, May 8th. Telsey Advisory Group raised their target price on Westrock Coffee from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Wall Street Zen raised Westrock Coffee from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, Benchmark upped their price target on Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Westrock Coffee has an average rating of “Hold” and an average target price of $9.00.
View Our Latest Stock Analysis on WEST
Westrock Coffee Stock Performance
Westrock Coffee (NASDAQ:WEST – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.09. The company had revenue of $308.83 million during the quarter, compared to analyst estimates of $285.12 million. Westrock Coffee had a negative net margin of 5.59% and a negative return on equity of 2,145.68%. As a group, sell-side analysts expect that Westrock Coffee Company will post -0.18 earnings per share for the current year.
Insider Buying and Selling at Westrock Coffee
In related news, Director Joe T. Ford purchased 15,000 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was bought at an average price of $8.50 per share, for a total transaction of $127,500.00. Following the purchase, the director directly owned 273,000 shares in the company, valued at approximately $2,320,500. This trade represents a 5.81% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have purchased 34,500 shares of company stock worth $290,715. 25.40% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Westrock Coffee
Several institutional investors have recently bought and sold shares of WEST. Group One Trading LLC purchased a new stake in Westrock Coffee in the first quarter worth $26,000. EverSource Wealth Advisors LLC grew its stake in shares of Westrock Coffee by 199.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock worth $36,000 after acquiring an additional 4,136 shares during the period. BNP Paribas Financial Markets increased its holdings in Westrock Coffee by 79.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,782 shares of the company’s stock worth $38,000 after acquiring an additional 3,439 shares during the last quarter. Waterloo Capital L.P. purchased a new stake in Westrock Coffee in the 4th quarter worth about $43,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in Westrock Coffee in the 4th quarter valued at about $47,000. Hedge funds and other 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.
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