Westrock Coffee (NASDAQ:WEST) Price Target Cut to $10.00 by Analysts at Telsey Advisory Group

Westrock Coffee (NASDAQ:WEST) had its target price cut by Telsey Advisory Group from $14.00 to $10.00 in a research report report published on Friday, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

WEST has been the topic of several other reports. Craig Hallum started coverage on Westrock Coffee in a research report on Monday, September 23rd. They set a “buy” rating and a $13.00 price target on the stock. Truist Financial initiated coverage on shares of Westrock Coffee in a research report on Monday, October 7th. They issued a “buy” rating and a $10.00 price target on the stock. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $11.40.

Westrock Coffee Stock Down 1.2 %

WEST opened at $7.21 on Friday. The stock’s 50 day moving average price is $6.89 and its 200 day moving average price is $8.86. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.31 and a quick ratio of 0.67. The stock has a market cap of $637.15 million, a P/E ratio of -8.38 and a beta of 0.38. Westrock Coffee has a 12 month low of $5.28 and a 12 month high of $11.21.

Westrock Coffee (NASDAQ:WEST) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.16). Westrock Coffee had a negative return on equity of 21.51% and a negative net margin of 9.05%. The company had revenue of $208.39 million during the quarter, compared to analyst estimates of $214.40 million. During the same period in the prior year, the company posted ($0.21) earnings per share. The company’s revenue was down 7.3% on a year-over-year basis. As a group, research analysts predict that Westrock Coffee will post -0.2 earnings per share for the current year.

Insider Activity at Westrock Coffee

In other Westrock Coffee news, Director Joe T. Ford purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $6.97 per share, with a total value of $34,850.00. Following the completion of the transaction, the director now owns 249,445 shares of the company’s stock, valued at approximately $1,738,631.65. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders bought 11,092 shares of company stock worth $81,546. 42.10% of the stock is owned by corporate insiders.

Institutional Trading of Westrock Coffee

Several hedge funds and other institutional investors have recently modified their holdings of WEST. EverSource Wealth Advisors LLC grew its stake in Westrock Coffee by 69.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,520 shares of the company’s stock valued at $35,000 after purchasing an additional 1,444 shares in the last quarter. Wolverine Asset Management LLC raised its stake in shares of Westrock Coffee by 79.8% during the 2nd quarter. Wolverine Asset Management LLC now owns 4,100 shares of the company’s stock worth $42,000 after purchasing an additional 1,820 shares in the last quarter. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of Westrock Coffee by 81.9% during the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 4,547 shares of the company’s stock valued at $30,000 after buying an additional 2,047 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Westrock Coffee by 15.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,050 shares of the company’s stock valued at $154,000 after buying an additional 2,070 shares in the last quarter. Finally, Stephens Inc. AR increased its holdings in Westrock Coffee by 1.7% in the third quarter. Stephens Inc. AR now owns 152,717 shares of the company’s stock worth $993,000 after buying an additional 2,500 shares during the last quarter. 45.08% of the stock is currently owned by hedge funds and other institutional investors.

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.