Coffee (NASDAQ:JVA) Initiates Share Buyback Plan

Coffee (NASDAQ:JVA) announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 7th, RTT News reports. The company plans to buyback $2.50 million in shares. This buyback authorization allows the company to buy up to 11% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have weighed in on JVA. Weiss Ratings downgraded Coffee from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 21st. DA Davidson set a $10.00 price objective on Coffee in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $9.50.

Coffee Price Performance

JVA stock traded up $0.66 during trading on Wednesday, hitting $4.65. The stock had a trading volume of 315,359 shares, compared to its average volume of 77,962. Coffee has a twelve month low of $2.93 and a twelve month high of $5.03. The stock has a market capitalization of $26.55 million, a P/E ratio of 5.54 and a beta of 1.41. The company’s 50-day moving average price is $3.70 and its two-hundred day moving average price is $3.93.

Coffee (NASDAQ:JVA) last posted its quarterly earnings data on Friday, September 11th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.01 by $0.34. Coffee had a return on equity of 16.20% and a net margin of 4.85%.The firm had revenue of $21.69 million during the quarter, compared to the consensus estimate of $23.00 million.

Coffee Company Profile

Coffee Holding Co, Inc (NASDAQ:JVA) is a specialty coffee processor, roaster, packager and distributor headquartered in Staten Island, New York. The company supplies coffee products to retail, foodservice and private-label customers, offering roasted whole-bean and ground coffee as well as other coffee formats.

The company markets products under its own brands and also produces coffee for third-party customers. Its activities include sourcing green coffee beans, roasting and blending coffee, packaging finished products, and distributing them through grocery, foodservice and wholesale channels.

Coffee Holding was founded in 1975 and has expanded its business through branded products, private-label production and acquisitions.