Westrock Coffee (NASDAQ:WEST) Price Target Lowered to $7.00 at Stifel Nicolaus

Westrock Coffee (NASDAQ:WEST) had its price target lowered by research analysts at Stifel Nicolaus from $10.00 to $7.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target suggests a potential upside of 78.03% from the stock’s current price.

A number of other equities analysts also recently issued reports on the company. Telsey Advisory Group reissued an “outperform” rating and set a $7.00 target price on shares of Westrock Coffee in a research note on Monday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Westrock Coffee in a report on Wednesday, January 21st. Finally, Benchmark reissued a “buy” rating on shares of Westrock Coffee in a report on Friday, November 14th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Westrock Coffee Stock Performance

WEST traded down $0.11 during trading on Wednesday, hitting $3.93. The stock had a trading volume of 391,315 shares, compared to its average volume of 322,713. The firm has a market capitalization of $380.72 million, a P/E ratio of -4.01 and a beta of 0.49. The company has a debt-to-equity ratio of 37.87, a quick ratio of 0.47 and a current ratio of 1.02. Westrock Coffee has a twelve month low of $3.59 and a twelve month high of $7.92. The company’s 50-day moving average price is $4.56 and its 200 day moving average price is $4.61.

Westrock Coffee (NASDAQ:WEST) last issued its earnings results on Tuesday, March 10th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.11). Westrock Coffee had a negative net margin of 8.58% and a negative return on equity of 98.07%. The firm had revenue of $339.47 million during the quarter, compared to analysts’ expectations of $317.40 million. On average, equities research analysts forecast that Westrock Coffee will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Westrock Coffee

Several hedge funds have recently bought and sold shares of WEST. NFC Investments LLC raised its stake in Westrock Coffee by 2.0% in the 3rd quarter. NFC Investments LLC now owns 4,089,711 shares of the company’s stock valued at $19,876,000 after purchasing an additional 81,730 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Westrock Coffee by 0.5% during the third quarter. Vanguard Group Inc. now owns 2,984,114 shares of the company’s stock worth $14,503,000 after buying an additional 14,707 shares in the last quarter. Agman Capital LLC acquired a new position in shares of Westrock Coffee in the fourth quarter valued at approximately $3,007,000. Millennium Management LLC lifted its stake in shares of Westrock Coffee by 111.2% during the fourth quarter. Millennium Management LLC now owns 676,400 shares of the company’s stock valued at $2,753,000 after buying an additional 356,118 shares during the period. Finally, CastleKnight Management LP grew its stake in Westrock Coffee by 44.8% in the 4th quarter. CastleKnight Management LP now owns 575,000 shares of the company’s stock worth $2,340,000 after acquiring an additional 178,020 shares during the period. 45.08% of the stock is owned by hedge funds and other 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.