Coffee (NASDAQ:JVA) Stock Rating Raised to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Coffee (NASDAQ:JVA) from a buy rating to a strong-buy rating in a research report report published on Saturday,Wall Street Zen reports.

JVA has been the topic of a number of other research reports. Weiss Ratings raised Coffee from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, October 8th. DA Davidson set a $10.00 price target on Coffee in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat, Coffee currently has a consensus rating of “Hold” and a consensus target price of $9.50.

Coffee Price Performance

Shares of Coffee stock opened at $4.86 on Friday. Coffee has a 1 year low of $2.93 and a 1 year high of $5.20. The firm has a market cap of $27.75 million, a PE ratio of 5.79 and a beta of 1.42. The company has a 50 day simple moving average of $4.26 and a two-hundred day simple moving average of $3.90.

Coffee (NASDAQ:JVA) last issued its quarterly earnings results on Friday, September 11th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.34. Coffee had a net margin of 4.85% and a return on equity of 16.20%. The firm had revenue of $21.69 million for the quarter, compared to analyst estimates of $23.00 million.

Coffee declared that its board has approved a stock repurchase program on Wednesday, October 7th that allows the company to buy back $2.50 million in shares. This buyback authorization allows the company to repurchase up to 11% of its shares through open market purchases. Share buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Coffee

An institutional investor recently raised its position in Coffee stock. Empowered Funds LLC raised its position in Coffee Holding Co., Inc. (NASDAQ:JVA) by 10.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,420 shares of the company’s stock after acquiring an additional 3,538 shares during the quarter. Empowered Funds LLC owned approximately 0.67% of Coffee worth $163,000 at the end of the most recent quarter.

About Coffee

Coffee Holding Co, Inc (NASDAQ:JVA) is a coffee company engaged in the sourcing, roasting, blending, packaging and distribution of coffee products. The company serves retail, foodservice, wholesale and private-label customers, offering products in a variety of formats, including whole bean, ground and single-serve coffee.

Its portfolio includes branded and private-label coffees marketed through grocery stores, club stores, specialty retailers, restaurants, hospitality businesses and other commercial channels.