Westrock Coffee (NASDAQ:WEST) Stock Price Down 6.5% – Here’s Why

Westrock Coffee Company (NASDAQ:WEST)’s share price dropped 6.5% on Tuesday . The stock traded as low as $7.76 and last traded at $7.81. Approximately 139,542 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 479,121 shares. The stock had previously closed at $8.35.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WEST shares. Wall Street Zen raised shares of Westrock Coffee from a “sell” rating to a “hold” rating in a report on Saturday, March 14th. Telsey Advisory Group increased their price objective on shares of Westrock Coffee from $7.00 to $9.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Benchmark increased their price objective on shares of Westrock Coffee from $8.00 to $10.00 and gave the company a “buy” rating in a report on Monday, May 11th. Zacks Research raised shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. Finally, Stifel Nicolaus set a $8.00 price objective on shares of Westrock Coffee in a report on Friday, May 8th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.00.

Westrock Coffee Stock Up 1.3%

The company has a quick ratio of 0.46, a current ratio of 0.97 and a debt-to-equity ratio of 37.87. The company has a fifty day moving average price of $5.88 and a 200-day moving average price of $4.90. The stock has a market capitalization of $776.01 million, a P/E ratio of -10.68 and a beta of 0.78.

Westrock Coffee (NASDAQ:WEST) last issued its earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.09. The firm had revenue of $308.83 million for the quarter, compared to analysts’ expectations of $285.13 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 5.59%. As a group, research analysts forecast that Westrock Coffee Company will post -0.18 EPS for the current fiscal year.

Insider Transactions at Westrock Coffee

In other Westrock Coffee news, Director Joe T. Ford purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were bought at an average price of $8.50 per share, with a total value of $127,500.00. Following the completion of the purchase, the director directly owned 273,000 shares in the company, valued at $2,320,500. This trade represents a 5.81% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have acquired a total of 131,500 shares of company stock worth $695,995 over the last quarter. 27.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Westrock Coffee

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE lifted its stake in shares of Westrock Coffee by 2.2% in the 1st quarter. Bank of America Corp DE now owns 69,801 shares of the company’s stock valued at $297,000 after purchasing an additional 1,477 shares during the last quarter. Group One Trading LLC bought a new stake in shares of Westrock Coffee in the 1st quarter valued at approximately $26,000. Hsbc Holdings PLC lifted its stake in shares of Westrock Coffee by 110.9% in the 1st quarter. Hsbc Holdings PLC now owns 29,811 shares of the company’s stock valued at $123,000 after purchasing an additional 15,676 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in shares of Westrock Coffee in the 1st quarter valued at approximately $1,203,000. Finally, Inspire Investing LLC lifted its stake in shares of Westrock Coffee by 8.1% in the 1st quarter. Inspire Investing LLC now owns 125,038 shares of the company’s stock valued at $531,000 after purchasing an additional 9,319 shares during the last quarter. 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.