Westrock Coffee Company (NASDAQ:WEST) Receives Consensus Rating of “Hold” from Brokerages

Shares of Westrock Coffee Company (NASDAQ:WEST) have earned an average recommendation of “Hold” from the five analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $10.00.

Several research analysts recently commented on the stock. Zacks Research raised shares of Westrock Coffee from a “strong sell” rating to a “hold” rating in a research note on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Westrock Coffee in a research note on Tuesday, August 4th. Stifel Nicolaus set a $9.00 price target on shares of Westrock Coffee in a research note on Friday, August 7th. Telsey Advisory Group boosted their price target on Westrock Coffee from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Benchmark raised their price objective on Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, May 11th.

Hedge Funds Weigh In On Westrock Coffee

Several institutional investors have recently made changes to their positions in the company. Two Sigma Securities LLC bought a new stake in shares of Westrock Coffee in the second quarter valued at about $125,000. Hsbc Holdings PLC grew its holdings in Westrock Coffee by 93.6% during the 2nd quarter. Hsbc Holdings PLC now owns 57,716 shares of the company’s stock worth $464,000 after acquiring an additional 27,905 shares in the last quarter. Bank of America Corp DE bought a new position in Westrock Coffee during the 2nd quarter worth about $3,049,000. Jupiter Topco LLC purchased a new position in Westrock Coffee during the 2nd quarter valued at about $1,656,000. Finally, Legal & General Group Plc purchased a new position in Westrock Coffee during the 2nd quarter valued at about $30,000. Hedge funds and other institutional investors own 45.08% of the company’s stock.

Westrock Coffee Stock Down 3.0%

WEST opened at $8.29 on Friday. The business has a fifty day moving average of $8.13 and a 200 day moving average of $6.57. The stock has a market cap of $809.35 million, a P/E ratio of -12.56 and a beta of 0.90. Westrock Coffee has a 52-week low of $3.59 and a 52-week high of $10.19.

Westrock Coffee (NASDAQ:WEST) last released its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.03). Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 4.88%.The business had revenue of $305.66 million for the quarter, compared to the consensus estimate of $318.80 million. Equities analysts anticipate that Westrock Coffee will post -0.22 EPS for the current fiscal year.

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.