Stifel Nicolaus Lowers Westrock Coffee (NASDAQ:WEST) Price Target to $7.00

Westrock Coffee (NASDAQ:WEST) had its price target cut by equities research analysts at Stifel Nicolaus from $10.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price points to a potential upside of 78.03% from the stock’s previous close.

Other research analysts have also issued research reports about the company. Benchmark restated a “buy” rating on shares of Westrock Coffee in a report on Friday, November 14th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $7.00 target price on shares of Westrock Coffee in a report on Monday. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of Westrock Coffee in a research note on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Westrock Coffee has an average rating of “Moderate Buy” and a consensus price target of $8.00.

Westrock Coffee Price Performance

Westrock Coffee stock traded down $0.11 during midday trading on Wednesday, reaching $3.93. The company had a trading volume of 391,315 shares, compared to its average volume of 322,713. The company has a debt-to-equity ratio of 37.87, a current ratio of 1.02 and a quick ratio of 0.47. Westrock Coffee has a 12-month low of $3.59 and a 12-month high of $7.92. The company has a market capitalization of $380.72 million, a P/E ratio of -4.01 and a beta of 0.49. The firm’s fifty day simple moving average is $4.56 and its 200-day simple moving average is $4.61.

Westrock Coffee (NASDAQ:WEST) last announced its earnings results on Tuesday, March 10th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.11). The firm had revenue of $339.47 million for the quarter, compared to analyst estimates of $317.40 million. Westrock Coffee had a negative net margin of 8.58% and a negative return on equity of 98.07%. As a group, equities analysts anticipate that Westrock Coffee will post -0.3 EPS for the current year.

Institutional Investors Weigh In On Westrock Coffee

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its position 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 buying an additional 4,136 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Westrock Coffee by 79.2% in the third quarter. BNP Paribas Financial Markets now owns 7,782 shares of the company’s stock valued at $38,000 after acquiring an additional 3,439 shares in the last quarter. Waterloo Capital L.P. purchased a new position in shares of Westrock Coffee during the fourth quarter worth about $43,000. Mercer Global Advisors Inc. ADV purchased a new position in Westrock Coffee during the 4th quarter worth approximately $47,000. Finally, Hexagon Capital Partners LLC purchased a new position in shares of Westrock Coffee during the fourth quarter worth approximately $48,000. Institutional investors and hedge funds own 45.08% of the company’s stock.

About Westrock Coffee

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.