Westrock Coffee (NASDAQ:WEST) Coverage Initiated at Craig Hallum

Stock analysts at Craig Hallum began coverage on shares of Westrock Coffee (NASDAQ:WEST) in a research report issued to clients and investors on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $13.00 price target on the stock. Craig Hallum’s target price would indicate a potential upside of 88.54% from the company’s previous close.

Separately, Telsey Advisory Group restated an “outperform” rating and issued a $14.00 target price on shares of Westrock Coffee in a research note on Friday, June 28th.

Westrock Coffee Stock Performance

WEST stock opened at $6.90 on Monday. The stock has a 50-day moving average price of $8.69 and a 200-day moving average price of $9.65. Westrock Coffee has a 1-year low of $6.70 and a 1-year high of $11.21. The company has a current ratio of 1.31, a quick ratio of 0.67 and a debt-to-equity ratio of 4.05. The firm has a market cap of $606.99 million, a PE ratio of -9.85 and a beta of 0.41.

Westrock Coffee (NASDAQ:WEST) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.16). Westrock Coffee had a negative return on equity of 18.20% and a negative net margin of 5.37%. The business had revenue of $208.39 million during the quarter, compared to the consensus estimate of $214.40 million. During the same period last year, the business posted ($0.21) earnings per share. The business’s revenue was down 7.3% on a year-over-year basis. As a group, equities research analysts expect that Westrock Coffee will post -0.2 earnings per share for the current year.

Insiders Place Their Bets

In other Westrock Coffee news, major shareholder Hf Direct Investments Pool, Ll sold 38,393 shares of Westrock Coffee stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $10.11, for a total transaction of $388,153.23. Following the transaction, the insider now owns 12,745,237 shares of the company’s stock, valued at approximately $128,854,346.07. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, major shareholder Hf Direct Investments Pool, Ll sold 38,393 shares of Westrock Coffee stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $10.11, for a total value of $388,153.23. Following the sale, the insider now owns 12,745,237 shares of the company’s stock, valued at approximately $128,854,346.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Christopher Pledger sold 6,600 shares of Westrock Coffee stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $10.00, for a total transaction of $66,000.00. Following the completion of the sale, the chief financial officer now directly owns 466,673 shares in the company, valued at approximately $4,666,730. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 11,092 shares of company stock valued at $81,546 and have sold 184,451 shares valued at $1,856,419. Insiders own 42.10% of the company’s stock.

Institutional Investors Weigh In On Westrock Coffee

Hedge funds have recently modified their holdings of the stock. Stephens Inc. AR raised its holdings in shares of Westrock Coffee by 197.7% in the 4th quarter. Stephens Inc. AR now owns 138,532 shares of the company’s stock worth $1,414,000 after purchasing an additional 92,000 shares during the period. Brown Brothers Harriman & Co. bought a new stake in Westrock Coffee during the 2nd quarter valued at $19,199,000. Vanguard Group Inc. raised its holdings in Westrock Coffee by 23.2% during the 1st quarter. Vanguard Group Inc. now owns 2,538,327 shares of the company’s stock valued at $26,221,000 after acquiring an additional 478,088 shares during the period. Hexagon Capital Partners LLC bought a new stake in Westrock Coffee during the 1st quarter valued at $41,000. Finally, Swiss National Bank raised its holdings in Westrock Coffee by 46.2% during the 4th quarter. Swiss National Bank now owns 60,800 shares of the company’s stock valued at $621,000 after acquiring an additional 19,200 shares during the period. Institutional investors own 45.08% of the company’s stock.

About Westrock Coffee

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.