Westrock Coffee (NASDAQ:WEST) Coverage Initiated at Craig Hallum

Equities researchers at Craig Hallum initiated coverage on shares of Westrock Coffee (NASDAQ:WEST) in a research note issued on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $13.00 price target on the stock. Craig Hallum’s target price would indicate a potential upside of 88.54% from the company’s previous close.

Separately, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Westrock Coffee in a report on Friday, June 28th.

Westrock Coffee Trading Down 2.8 %

Shares of NASDAQ:WEST opened at $6.90 on Monday. The company has a market capitalization of $606.99 million, a P/E ratio of -9.85 and a beta of 0.41. Westrock Coffee has a 1 year low of $6.70 and a 1 year high of $11.21. 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 business’s 50 day simple moving average is $8.69 and its 200 day simple moving average is $9.65.

Westrock Coffee (NASDAQ:WEST) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.16). The company had revenue of $208.39 million for the quarter, compared to analyst estimates of $214.40 million. Westrock Coffee had a negative return on equity of 18.20% and a negative net margin of 5.37%. The company’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.21) EPS. On average, research analysts anticipate that Westrock Coffee will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at Westrock Coffee

In other news, major shareholder Hf Direct Investments Pool, Ll sold 33,592 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $10.03, for a total value of $336,927.76. Following the completion of the transaction, the insider now directly owns 12,974,408 shares in the company, valued at approximately $130,133,312.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, major shareholder Hf Direct Investments Pool, Ll sold 33,592 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $10.03, for a total value of $336,927.76. Following the completion of the transaction, the insider now directly owns 12,974,408 shares in the company, valued at approximately $130,133,312.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas Christopher Pledger sold 6,600 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $10.00, for a total value of $66,000.00. Following the completion of the transaction, the chief financial officer now owns 466,673 shares of the company’s stock, valued at $4,666,730. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 11,092 shares of company stock valued at $81,546 and have sold 184,451 shares valued at $1,856,419. Company insiders own 42.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WEST. Vanguard Group Inc. raised its position in Westrock Coffee by 23.2% during the 1st quarter. Vanguard Group Inc. now owns 2,538,327 shares of the company’s stock worth $26,221,000 after purchasing an additional 478,088 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in Westrock Coffee during the 2nd quarter worth $19,199,000. Raymond James & Associates raised its position in Westrock Coffee by 2.1% during the 2nd quarter. Raymond James & Associates now owns 269,174 shares of the company’s stock worth $2,754,000 after purchasing an additional 5,520 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Westrock Coffee by 5.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 256,650 shares of the company’s stock worth $2,651,000 after purchasing an additional 13,000 shares during the last quarter. Finally, Stephens Inc. AR raised its position in Westrock Coffee by 197.7% during the 4th quarter. Stephens Inc. AR now owns 138,532 shares of the company’s stock worth $1,414,000 after purchasing an additional 92,000 shares during the last quarter. 45.08% of the stock is currently owned by institutional investors.

Westrock Coffee Company Profile

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.