Westrock Coffee (NASDAQ:WEST) Shares Down 6.5% – Here’s Why

Westrock Coffee Company (NASDAQ:WEST) shares were down 6.5% during mid-day trading on Tuesday . The company traded as low as $7.76 and last traded at $7.81. Approximately 139,542 shares traded hands during trading, a decline of 71% from the average daily volume of 479,121 shares. The stock had previously closed at $8.35.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on WEST shares. Telsey Advisory Group raised their price objective on Westrock Coffee from $7.00 to $9.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Wall Street Zen upgraded Westrock Coffee from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Stifel Nicolaus set a $8.00 price objective on Westrock Coffee in a research report on Friday, May 8th. Weiss Ratings upgraded Westrock Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, May 7th. Finally, Benchmark raised their price objective on Westrock Coffee from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Westrock Coffee has an average rating of “Hold” and a consensus target price of $9.00.

Westrock Coffee Stock Performance

The firm has a market capitalization of $765.35 million, a P/E ratio of -10.53 and a beta of 0.78. The stock has a fifty day simple moving average of $5.73 and a two-hundred day simple moving average of $4.85. The company has a debt-to-equity ratio of 37.87, a current ratio of 0.97 and a quick ratio of 0.46.

Westrock Coffee (NASDAQ:WEST) last issued its earnings results on Thursday, May 7th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. The business had revenue of $308.83 million during the quarter, compared to the consensus estimate of $285.13 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 5.59%. On average, research analysts predict that Westrock Coffee Company will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other Westrock Coffee news, Director Joe T. Ford bought 15,000 shares of the stock in a transaction on Thursday, May 14th. The stock was acquired at an average cost of $8.50 per share, for a total transaction of $127,500.00. Following the completion of the acquisition, the director owned 273,000 shares in the company, valued at $2,320,500. This trade represents a 5.81% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Insiders purchased 131,500 shares of company stock valued at $695,995 in the last ninety days. Insiders own 27.70% of the company’s stock.

Institutional Investors Weigh In On Westrock Coffee

A number of hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in Westrock Coffee by 2.2% in the first quarter. Bank of America Corp DE now owns 69,801 shares of the company’s stock worth $297,000 after purchasing an additional 1,477 shares in the last quarter. Red Door Wealth Management LLC increased its holdings in Westrock Coffee by 7.7% in the first quarter. Red Door Wealth Management LLC now owns 28,000 shares of the company’s stock worth $119,000 after purchasing an additional 2,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Westrock Coffee by 10.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,292 shares of the company’s stock worth $154,000 after acquiring an additional 2,003 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Westrock Coffee by 14.9% in the fourth quarter. MetLife Investment Management LLC now owns 20,863 shares of the company’s stock worth $85,000 after acquiring an additional 2,704 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in Westrock Coffee by 10.1% in the third quarter. Alliancebernstein L.P. now owns 31,720 shares of the company’s stock worth $154,000 after acquiring an additional 2,900 shares in the last quarter. 45.08% of the stock is currently owned by institutional investors.

Westrock Coffee Company Profile

Westrock Coffee Company is a global integrated coffee roaster and manufacturer that delivers end-to-end solutions across the coffee and tea supply chain. The company sources, roasts, blends, packages and distributes a diverse range of products, including hot and cold brew coffee, single-serve pods, instant and soluble coffee, tea, and specialty coffee extracts. Serving retail, convenience, foodservice and industrial customers, Westrock Coffee offers both private-label and co-packed branded products to meet the needs of supermarkets, quick-service restaurants, office coffee services and other channels.

Since its founding in 2008, Westrock Coffee has grown through a combination of organic expansion and strategic acquisitions to establish manufacturing facilities across North America, Latin America and Europe.