Westrock Coffee (NASDAQ:WEST) Earns “Buy” Rating from Benchmark

Westrock Coffee (NASDAQ:WEST)‘s stock had its “buy” rating reiterated by equities researchers at Benchmark in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $10.00 price target on the stock. Benchmark’s price target would indicate a potential upside of 81.49% from the stock’s current price.

Separately, Telsey Advisory Group restated an “outperform” rating and issued a $9.00 price target on shares of Westrock Coffee in a research report on Wednesday, March 12th.

Westrock Coffee Stock Performance

WEST opened at $5.51 on Wednesday. Westrock Coffee has a twelve month low of $5.28 and a twelve month high of $10.99. The firm has a market capitalization of $519.20 million, a PE ratio of -6.41 and a beta of 0.47. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41. The firm’s 50-day moving average price is $6.42 and its 200 day moving average price is $6.65.

Insiders Place Their Bets

In other news, COO William A. Ford purchased 15,000 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was acquired at an average price of $6.45 per share, for a total transaction of $96,750.00. Following the acquisition, the chief operating officer now directly owns 476,190 shares of the company’s stock, valued at approximately $3,071,425.50. This represents a 3.25 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 42.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WEST. Millennium Management LLC raised its position in Westrock Coffee by 198.9% in the fourth quarter. Millennium Management LLC now owns 589,450 shares of the company’s stock valued at $3,784,000 after purchasing an additional 392,214 shares during the period. Vanguard Group Inc. increased its position in shares of Westrock Coffee by 7.7% during the 4th quarter. Vanguard Group Inc. now owns 2,812,993 shares of the company’s stock worth $18,059,000 after purchasing an additional 199,939 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Westrock Coffee in the 4th quarter valued at about $840,000. Stephens Inc. AR lifted its position in Westrock Coffee by 54.8% in the fourth quarter. Stephens Inc. AR now owns 236,364 shares of the company’s stock valued at $1,517,000 after buying an additional 83,647 shares during the last quarter. Finally, Sovereign s Capital Management LLC purchased a new position in Westrock Coffee during the fourth quarter worth about $465,000. 45.08% of the stock is currently owned by institutional investors and hedge funds.

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.