Westrock Coffee's (WEST) Buy Rating Reiterated at Benchmark

Westrock Coffee (NASDAQ:WEST - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Benchmark in a research note issued on Wednesday,Benzinga reports. They presently have a $10.00 price objective on the stock. Benchmark's target price suggests a potential upside of 81.49% from the company's previous close.

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

Westrock Coffee Stock Performance

Shares of WEST traded down $0.05 during trading hours on Wednesday, reaching $5.51. 268,902 shares of the company's stock traded hands, compared to its average volume of 286,739. Westrock Coffee has a twelve month low of $5.28 and a twelve month high of $10.99. The business's fifty day simple moving average is $6.40 and its two-hundred day simple moving average is $6.64. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.39 and a quick ratio of 0.73. The firm has a market capitalization of $519.20 million, a price-to-earnings ratio of -6.41 and a beta of 0.47.

Insider Activity at Westrock Coffee

In other Westrock Coffee news, COO William A. Ford purchased 15,000 shares of the firm's stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $6.45 per share, for a total transaction of $96,750.00. Following the completion of the transaction, the chief operating officer now owns 476,190 shares in the company, valued at $3,071,425.50. This represents a 3.25 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 42.10% of the company's stock.

Institutional Investors Weigh In On Westrock Coffee

Institutional investors and hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its position in shares of Westrock Coffee by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 284,653 shares of the company's stock worth $1,827,000 after purchasing an additional 2,010 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Westrock Coffee by 23.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,418 shares of the company's stock worth $87,000 after purchasing an additional 2,588 shares in the last quarter. Barclays PLC raised its holdings in Westrock Coffee by 6.6% during the 4th quarter. Barclays PLC now owns 61,159 shares of the company's stock worth $392,000 after buying an additional 3,802 shares during the period. Arvest Bank Trust Division lifted its stake in Westrock Coffee by 28.4% during the fourth quarter. Arvest Bank Trust Division now owns 22,635 shares of the company's stock valued at $145,000 after buying an additional 5,000 shares in the last quarter. Finally, Townsquare Capital LLC boosted its holdings in shares of Westrock Coffee by 46.6% in the fourth quarter. Townsquare Capital LLC now owns 16,133 shares of the company's stock worth $104,000 after buying an additional 5,131 shares during the period. Institutional investors and hedge funds own 45.08% of the company's stock.

About Westrock Coffee

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.