Craig Hallum Initiates Coverage on Westrock Coffee (NASDAQ:WEST)

Equities researchers at Craig Hallum began coverage on shares of Westrock Coffee (NASDAQ:WEST) in a research note issued on Monday, Briefing.com reports. The firm set a “buy” rating and a $13.00 price target on the stock. Craig Hallum’s price target would suggest a potential upside of 84.14% from the stock’s current price.

Separately, Telsey Advisory Group restated an “outperform” rating and issued a $14.00 price objective on shares of Westrock Coffee in a research note on Friday, June 28th.

Westrock Coffee Stock Performance

Shares of WEST opened at $7.06 on Monday. The company has a market capitalization of $621.52 million, a price-to-earnings ratio of -9.97 and a beta of 0.41. Westrock Coffee has a 52-week low of $6.70 and a 52-week high of $11.21. The company has a quick ratio of 0.67, a current ratio of 1.31 and a debt-to-equity ratio of 4.05. The stock has a 50 day moving average price of $8.81 and a 200 day moving average price of $9.69.

Westrock Coffee (NASDAQ:WEST) last issued 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). The company had revenue of $208.39 million for the quarter, compared to analysts’ expectations of $214.40 million. Westrock Coffee had a negative return on equity of 18.20% and a negative net margin of 5.37%. The firm’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.21) EPS. Research analysts predict that Westrock Coffee will post -0.2 EPS for the current fiscal year.

Insider Transactions at Westrock Coffee

In other Westrock Coffee news, Director Joe T. Ford purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of $6.97 per share, for a total transaction of $34,850.00. Following the purchase, the director now directly owns 249,445 shares in the company, valued at $1,738,631.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Joe T. Ford acquired 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was bought at an average cost of $6.97 per share, with a total value of $34,850.00. Following the transaction, the director now owns 249,445 shares of the company’s stock, valued at $1,738,631.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas Christopher Pledger sold 6,600 shares of the business’s stock in a transaction that occurred 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 directly owns 466,673 shares in the company, valued at approximately $4,666,730. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 11,092 shares of company stock worth $81,546 and have sold 184,451 shares worth $1,856,419. Insiders own 42.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake 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 worth $154,000 after buying an additional 2,070 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Westrock Coffee in the 2nd quarter valued at about $443,000. EverSource Wealth Advisors LLC lifted its stake in shares of 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 during the period. ProShare Advisors LLC purchased a new stake in Westrock Coffee during the second quarter worth about $39,000. Finally, Brown Brothers Harriman & Co. acquired a new position in Westrock Coffee during the second quarter worth about $19,199,000. 45.08% of the stock is currently owned by institutional investors and hedge funds.

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.