Westrock Coffee (NASDAQ:WEST) Releases Quarterly Earnings Results

Westrock Coffee (NASDAQ:WEST) announced its earnings results on Thursday. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.15), FiscalAI reports. Westrock Coffee had a negative net margin of 9.28% and a negative return on equity of 64.79%. The business had revenue of $354.83 million for the quarter, compared to analysts’ expectations of $281.54 million.

Westrock Coffee Trading Down 8.0%

Shares of NASDAQ WEST traded down $0.34 during trading hours on Thursday, reaching $3.92. The stock had a trading volume of 656,260 shares, compared to its average volume of 362,791. The firm has a market cap of $371.26 million, a price-to-earnings ratio of -4.17 and a beta of 0.47. Westrock Coffee has a 52-week low of $3.91 and a 52-week high of $8.29. The company has a current ratio of 1.04, a quick ratio of 0.50 and a debt-to-equity ratio of 23.42. The business’s fifty day moving average price is $4.93 and its two-hundred day moving average price is $5.97.

Insider Buying and Selling

In other Westrock Coffee news, Director Joe T. Ford acquired 5,000 shares of Westrock Coffee stock in a transaction that occurred on Tuesday, September 2nd. The stock was bought at an average price of $5.30 per share, with a total value of $26,500.00. Following the completion of the purchase, the director directly owned 413,916 shares of the company’s stock, valued at approximately $2,193,754.80. This represents a 1.22% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Westrock Coffee

A number of large investors have recently bought and sold shares of WEST. Jane Street Group LLC raised its stake in Westrock Coffee by 1,019.7% in the second quarter. Jane Street Group LLC now owns 116,451 shares of the company’s stock worth $667,000 after buying an additional 106,051 shares in the last quarter. Raymond James Financial Inc. raised its stake in Westrock Coffee by 30.6% in the second quarter. Raymond James Financial Inc. now owns 151,046 shares of the company’s stock worth $865,000 after buying an additional 35,365 shares in the last quarter. AQR Capital Management LLC bought a new position in Westrock Coffee in the first quarter worth approximately $166,000. Marshall Wace LLP bought a new position in Westrock Coffee in the second quarter worth approximately $104,000. Finally, Engineers Gate Manager LP raised its stake in Westrock Coffee by 13.7% in the second quarter. Engineers Gate Manager LP now owns 35,215 shares of the company’s stock worth $202,000 after buying an additional 4,239 shares in the last quarter. Institutional investors own 45.08% of the company’s stock.

Analysts Set New Price Targets

WEST has been the subject of several recent analyst reports. Telsey Advisory Group restated an “outperform” rating and set a $10.00 target price on shares of Westrock Coffee in a research report on Monday, October 27th. Wall Street Zen upgraded Westrock Coffee from a “sell” rating to a “hold” rating in a research report on Friday, August 22nd. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Westrock Coffee in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Westrock Coffee has a consensus rating of “Moderate Buy” and an average price target of $10.00.

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.