Westrock Coffee (NASDAQ:WEST) Stock Price Up 7.1% – Here’s Why

Westrock Coffee Company (NASDAQ:WEST)’s share price was up 7.1% during trading on Thursday . The stock traded as high as $7.66 and last traded at $7.70. Approximately 166,290 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 550,809 shares. The stock had previously closed at $7.19.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Telsey Advisory Group boosted their target price on shares of Westrock Coffee from $7.00 to $9.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Benchmark lifted their target price on Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Weiss Ratings raised 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 shares of Westrock Coffee in a research note on Friday, May 8th. Finally, Zacks Research upgraded shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a report on Monday, May 11th. 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. According to MarketBeat, Westrock Coffee has a consensus rating of “Hold” and a consensus price target of $9.00.

Westrock Coffee Stock Up 0.3%

The stock has a market capitalization of $744.03 million, a PE ratio of -10.24 and a beta of 0.90. The stock’s 50-day moving average is $8.20 and its 200 day moving average is $5.93.

Westrock Coffee (NASDAQ:WEST) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.09. Westrock Coffee had a negative net margin of 5.59% and a negative return on equity of 2,145.68%. The business had revenue of $308.83 million for the quarter, compared to analysts’ expectations of $285.12 million. As a group, equities research analysts forecast that Westrock Coffee Company will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other Westrock Coffee news, Director Joe T. Ford bought 15,000 shares of Westrock Coffee stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $8.50 per share, for a total transaction of $127,500.00. Following the completion of the purchase, the director directly owned 273,000 shares of the company’s stock, valued at $2,320,500. The trade was a 5.81% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have purchased a total of 34,500 shares of company stock worth $290,715 over the last 90 days. 25.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Westrock Coffee

Large investors have recently bought and sold shares of the business. Group One Trading LLC bought a new position in Westrock Coffee during the first quarter valued at about $26,000. EverSource Wealth Advisors LLC lifted its holdings in Westrock Coffee by 199.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock worth $36,000 after purchasing an additional 4,136 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Westrock Coffee by 79.2% during the third quarter. BNP Paribas Financial Markets now owns 7,782 shares of the company’s stock worth $38,000 after purchasing an additional 3,439 shares during the period. Waterloo Capital L.P. bought a new position in shares of Westrock Coffee in the fourth quarter valued at approximately $43,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in shares of Westrock Coffee in the fourth quarter worth $47,000. 45.08% of the stock is currently owned by institutional investors.

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.