Westrock Coffee’s (WEST) “Buy” Rating Reiterated at Benchmark

Westrock Coffee (NASDAQ:WEST)‘s stock had its “buy” rating reiterated by Benchmark in a research report issued to clients and investors on Friday,Benzinga reports. They currently have a $10.00 price objective on the stock. Benchmark’s price objective points to a potential upside of 57.36% from the stock’s previous close.

Separately, Telsey Advisory Group reiterated an “outperform” rating and issued a $9.00 price objective on shares of Westrock Coffee in a research note on Wednesday.

Westrock Coffee Stock Performance

Shares of WEST stock traded up $0.85 during trading hours on Friday, hitting $6.36. 171,841 shares of the company were exchanged, compared to its average volume of 264,055. The firm has a fifty day simple moving average of $6.45 and a 200 day simple moving average of $6.84. The company has a current ratio of 1.39, a quick ratio of 0.73 and a debt-to-equity ratio of 3.41. Westrock Coffee has a 52-week low of $5.28 and a 52-week high of $10.99. The stock has a market capitalization of $598.56 million, a price-to-earnings ratio of -7.39 and a beta of 0.59.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Stephens Inc. AR lifted its holdings in shares of Westrock Coffee by 54.8% during the 4th quarter. Stephens Inc. AR now owns 236,364 shares of the company’s stock worth $1,517,000 after acquiring an additional 83,647 shares during the last quarter. Barclays PLC lifted its stake in Westrock Coffee by 363.9% in the third quarter. Barclays PLC now owns 57,357 shares of the company’s stock worth $373,000 after purchasing an additional 44,993 shares during the last quarter. State Street Corp increased its position in shares of Westrock Coffee by 2.0% in the third quarter. State Street Corp now owns 649,553 shares of the company’s stock valued at $4,222,000 after acquiring an additional 12,937 shares during the period. Principal Street Partners LLC increased its position in shares of Westrock Coffee by 100.0% in the third quarter. Principal Street Partners LLC now owns 391,680 shares of the company’s stock valued at $2,546,000 after acquiring an additional 195,800 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Westrock Coffee by 5.7% in the third quarter. Geode Capital Management LLC now owns 806,325 shares of the company’s stock valued at $5,242,000 after acquiring an additional 43,731 shares during the period. 45.08% of the stock is currently owned by hedge funds and other institutional investors.

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.