Telsey Advisory Group Reiterates “Outperform” Rating for Westrock Coffee (NASDAQ:WEST)

Westrock Coffee (NASDAQ:WEST)‘s stock had its “outperform” rating reissued by equities researchers at Telsey Advisory Group in a report issued on Monday,Benzinga reports. They currently have a $7.00 price objective on the stock. Telsey Advisory Group’s price target suggests a potential upside of 82.05% from the stock’s current price.

Several other research firms also recently weighed in on WEST. Weiss Ratings reiterated a “sell (e+)” rating on shares of Westrock Coffee in a research note on Wednesday, January 21st. Benchmark reaffirmed 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 assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Westrock Coffee Stock Performance

Shares of NASDAQ:WEST traded down $0.06 during mid-day trading on Monday, reaching $3.85. The company had a trading volume of 444,049 shares, compared to its average volume of 310,405. Westrock Coffee has a one year low of $3.59 and a one year high of $7.92. The company has a current ratio of 1.02, a quick ratio of 0.47 and a debt-to-equity ratio of 37.87. The company’s 50-day moving average price is $4.56 and its 200-day moving average price is $4.64. The firm has a market cap of $372.27 million, a price-to-earnings ratio of -3.92 and a beta of 0.50.

Insiders Place Their Bets

In related news, CEO Scott T. Ford bought 100,000 shares of the company’s stock in a transaction on Wednesday, December 10th. The stock was acquired at an average cost of $4.14 per share, for a total transaction of $414,000.00. Following the completion of the transaction, the chief executive officer directly owned 506,401 shares in the company, valued at $2,096,500.14. This trade represents a 24.61% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 27.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Westrock Coffee

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its position in Westrock Coffee by 199.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,214 shares of the company’s stock worth $36,000 after acquiring an additional 4,136 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in shares of Westrock Coffee by 79.2% during the third quarter. BNP Paribas Financial Markets now owns 7,782 shares of the company’s stock valued at $38,000 after purchasing an additional 3,439 shares during the period. Waterloo Capital L.P. purchased a new stake in shares of Westrock Coffee during the fourth quarter valued at approximately $43,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Westrock Coffee in the fourth quarter worth approximately $47,000. Finally, Hexagon Capital Partners LLC purchased a new position in shares of Westrock Coffee in the fourth quarter worth $48,000. Hedge funds and other institutional investors own 45.08% of the company’s stock.

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.