Krispy Kreme, Inc. (NASDAQ:DNUT) Receives Average Rating of “Hold” from Analysts

Krispy Kreme, Inc. (NASDAQ:DNUT) has been assigned a consensus rating of “Hold” from the eleven ratings firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $6.45.

Several research firms have issued reports on DNUT. Capital One Financial dropped their price objective on Krispy Kreme from $6.00 to $4.00 and set an “equal weight” rating for the company in a research note on Thursday, October 2nd. BNP Paribas upgraded Krispy Kreme to a “hold” rating in a research note on Monday, July 21st. Weiss Ratings reiterated a “sell (e+)” rating on shares of Krispy Kreme in a research note on Wednesday. BNP Paribas Exane lowered Krispy Kreme from an “outperform” rating to a “neutral” rating and set a $3.50 price objective for the company. in a research note on Monday, July 21st. Finally, Bank of America dropped their price objective on Krispy Kreme from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, July 18th.

Institutional Trading of Krispy Kreme

A number of hedge funds and other institutional investors have recently made changes to their positions in DNUT. Millennium Management LLC increased its stake in shares of Krispy Kreme by 522.1% in the first quarter. Millennium Management LLC now owns 2,093,416 shares of the company’s stock valued at $10,300,000 after buying an additional 1,756,932 shares in the last quarter. Federated Hermes Inc. acquired a new stake in shares of Krispy Kreme in the first quarter valued at $8,271,000. Clearline Capital LP acquired a new stake in shares of Krispy Kreme in the first quarter valued at $3,459,000. Balyasny Asset Management L.P. acquired a new stake in shares of Krispy Kreme in the second quarter valued at $1,567,000. Finally, Divisadero Street Capital Management LP acquired a new stake in shares of Krispy Kreme in the second quarter valued at $1,455,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.

Krispy Kreme Stock Up 1.7%

DNUT opened at $3.49 on Thursday. Krispy Kreme has a fifty-two week low of $2.50 and a fifty-two week high of $12.68. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.34 and a quick ratio of 0.26. The firm’s fifty day moving average price is $3.44 and its two-hundred day moving average price is $3.56. The company has a market capitalization of $597.49 million, a P/E ratio of -1.32 and a beta of 1.34.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.10). Krispy Kreme had a negative return on equity of 5.55% and a negative net margin of 29.33%.The business had revenue of $379.77 million for the quarter, compared to analyst estimates of $382.25 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The firm’s quarterly revenue was down 13.5% on a year-over-year basis. On average, analysts anticipate that Krispy Kreme will post 0.07 EPS for the current year.

About Krispy Kreme

Krispy Kreme, Inc, together with its subsidiaries, produces doughnuts in the United States, the United Kingdom, Ireland, Australia, New Zealand, Mexico, Canada, Japan, and internationally. The company operates through three segments: U.S., International, and Market Development. The company offers doughnut experiences through hot light theater and fresh shops, delivered fresh daily branded cabinets and merchandising units within grocery and convenience stores, quick service restaurants, club memberships, drug stores, and ecommerce, as well as through its branded sweet treat line comprising Krispy Kreme branded sweet treats.