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

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

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

Westrock Coffee Price Performance

WEST opened at $7.61 on Friday. The firm has a market cap of $672.50 million, a PE ratio of -8.48 and a beta of 0.38. The stock has a 50-day moving average price of $6.89 and a 200-day moving average price of $8.86. Westrock Coffee has a 1 year low of $5.28 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.

Insider Activity

In other Westrock Coffee news, Director Joe T. Ford bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average price of $6.97 per share, with a total value of $34,850.00. Following the purchase, the director now owns 249,445 shares of the company’s stock, valued at $1,738,631.65. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have acquired 11,092 shares of company stock worth $81,546 over the last ninety days. Corporate insiders own 42.10% of the company’s stock.

Hedge Funds Weigh In On Westrock Coffee

Hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of Westrock Coffee by 69.6% during the 2nd 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 last quarter. ProShare Advisors LLC bought a new position in Westrock Coffee during the second quarter valued at approximately $39,000. Wolverine Asset Management LLC grew its holdings in Westrock Coffee by 79.8% during the 2nd quarter. Wolverine Asset Management LLC now owns 4,100 shares of the company’s stock valued at $42,000 after buying an additional 1,820 shares in the last quarter. Gilliland Jeter Wealth Management LLC increased its stake in Westrock Coffee by 81.9% in the 3rd quarter. Gilliland Jeter Wealth Management LLC now owns 4,547 shares of the company’s stock worth $30,000 after acquiring an additional 2,047 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in shares of Westrock Coffee during the 3rd quarter valued at approximately $71,000. Institutional investors own 45.08% of the company’s stock.

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.