Westrock Coffee (NASDAQ:WEST) Hits New 12-Month High – Here’s What Happened

Westrock Coffee Company (NASDAQ:WEST)’s share price hit a new 52-week high during mid-day trading on Thursday. The stock traded as high as $10.57 and last traded at $10.5350, with a volume of 26,010 shares. The stock had previously closed at $10.36.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WEST. Benchmark reiterated a “buy” rating on shares of Westrock Coffee in a research note on Monday, August 31st. Stifel Nicolaus set a $9.00 price objective on shares of Westrock Coffee in a report on Friday, August 7th. Telsey Advisory Group boosted their price objective on shares of Westrock Coffee from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 19th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Westrock Coffee in a research report on Monday. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Westrock Coffee presently has an average rating of “Hold” and a consensus price target of $10.00.

Westrock Coffee Price Performance

The firm has a 50-day moving average of $8.42 and a 200 day moving average of $6.96. The company has a market capitalization of $1.00 billion, a PE ratio of -15.52 and a beta of 0.84.

Westrock Coffee (NASDAQ:WEST) last issued its earnings results on Thursday, August 6th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.03). The business had revenue of $305.66 million during the quarter, compared to analysts’ expectations of $318.80 million. Westrock Coffee had a negative return on equity of 2,145.68% and a negative net margin of 4.88%. Equities analysts expect that Westrock Coffee Company will post -0.22 EPS for the current year.

Institutional Trading of Westrock Coffee

Institutional investors have recently made changes to their positions in the stock. State of Wyoming bought a new stake in shares of Westrock Coffee in the third quarter worth approximately $138,000. State Street Corp lifted its position in Westrock Coffee by 3.7% during the second quarter. State Street Corp now owns 793,823 shares of the company’s stock valued at $6,438,000 after purchasing an additional 28,318 shares during the period. Sequoia Financial Advisors LLC bought a new position in Westrock Coffee during the second quarter valued at approximately $88,000. WINTON GROUP Ltd purchased a new stake in Westrock Coffee in the second quarter worth approximately $100,000. Finally, Citadel Advisors LLC boosted its holdings in Westrock Coffee by 19.3% in the second quarter. Citadel Advisors LLC now owns 218,376 shares of the company’s stock worth $1,771,000 after purchasing an additional 35,328 shares during the last quarter. Hedge funds and other institutional investors own 45.08% of the company’s stock.

About Westrock Coffee

Westrock Coffee Company is a global provider of integrated coffee, tea, flavors, extracts and ready-to-drink beverage solutions. The company sources raw materials from producing regions, then provides processing, roasting, blending, extraction, packaging and distribution services for beverage brands and other commercial customers.

Its products and services support a range of beverage formats, including roasted and ground coffee, single-serve coffee, tea, liquid coffee and tea extracts, ready-to-drink beverages, and customized flavor systems.