Telsey Advisory Group Has Lowered Expectations for Westrock Coffee (NASDAQ:WEST) Stock Price

Westrock Coffee (NASDAQ:WEST) had its target price reduced by equities researchers at Telsey Advisory Group from $14.00 to $10.00 in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage currently has an “outperform” rating on the stock. Telsey Advisory Group’s price target suggests a potential upside of 36.99% from the stock’s previous close.

A number of other equities analysts also recently weighed in on WEST. Craig Hallum initiated coverage on shares of Westrock Coffee in a research note on Monday, September 23rd. They set a “buy” rating and a $13.00 price target on the stock. Truist Financial started coverage on shares of Westrock Coffee in a research report on Monday, October 7th. They set a “buy” rating and a $10.00 target price on the stock. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $11.40.

Westrock Coffee Stock Performance

Westrock Coffee stock opened at $7.30 on Friday. The stock has a fifty day moving average price of $6.90 and a 200 day moving average price of $8.89. Westrock Coffee has a 52 week low of $5.28 and a 52 week high of $11.21. The firm has a market capitalization of $645.10 million, a P/E ratio of -13.27 and a beta of 0.38. The company has a current ratio of 1.31, a quick ratio of 0.67 and a debt-to-equity ratio of 4.05.

Westrock Coffee (NASDAQ:WEST) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.16). Westrock Coffee had a negative return on equity of 18.20% and a negative net margin of 5.37%. The company had revenue of $208.39 million for the quarter, compared to analysts’ expectations of $214.40 million. During the same quarter in the previous year, the company earned ($0.21) earnings per share. The company’s revenue was down 7.3% on a year-over-year basis. Equities research analysts anticipate that Westrock Coffee will post -0.2 earnings per share for the current year.

Insider Buying and Selling at Westrock Coffee

In related news, Director Joe T. Ford purchased 5,000 shares of the business’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 acquisition, the director now directly owns 249,445 shares of the company’s stock, valued at approximately $1,738,631.65. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 11,092 shares of company stock valued at $81,546 in the last three months. Corporate insiders own 42.10% of the company’s stock.

Hedge Funds Weigh In On Westrock Coffee

A number of hedge funds have recently bought and sold shares of WEST. Brown Brothers Harriman & Co. bought a new position in Westrock Coffee during the second quarter worth $19,199,000. Vanguard Group Inc. boosted its holdings in shares of Westrock Coffee by 23.2% in the 1st quarter. Vanguard Group Inc. now owns 2,538,327 shares of the company’s stock valued at $26,221,000 after buying an additional 478,088 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Westrock Coffee by 15.9% during 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 during the last quarter. Virtu Financial LLC bought a new position in shares of Westrock Coffee during the first quarter valued at approximately $117,000. Finally, American Century Companies Inc. raised its position in shares of Westrock Coffee by 76.0% during the 2nd quarter. American Century Companies Inc. now owns 46,615 shares of the company’s stock worth $477,000 after purchasing an additional 20,129 shares during the period. 45.08% of the stock is currently owned by institutional investors and hedge funds.

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.