Krispy Kreme (NASDAQ:DNUT) Stock Rating Upgraded by Zacks Research

Krispy Kreme (NASDAQ:DNUT) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday, Zacks reports.

Other equities research analysts have also issued reports about the stock. Evercore set a $4.00 price objective on shares of Krispy Kreme in a research note on Friday, August 7th. Weiss Ratings lowered shares of Krispy Kreme from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 16th. Finally, Wall Street Zen lowered shares of Krispy Kreme from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $4.33.

Krispy Kreme Stock Performance

Shares of DNUT stock opened at $3.05 on Tuesday. The business’s 50 day simple moving average is $3.13 and its 200 day simple moving average is $3.36. Krispy Kreme has a one year low of $2.81 and a one year high of $4.75. The stock has a market capitalization of $525.82 million, a PE ratio of -5.45 and a beta of 1.25. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.36 and a quick ratio of 0.29.

Krispy Kreme (NASDAQ:DNUT) last released its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). Krispy Kreme had a negative net margin of 6.16% and a negative return on equity of 1.17%. The business had revenue of $331.00 million during the quarter, compared to the consensus estimate of $303.35 million. During the same quarter in the prior year, the firm posted ($0.15) EPS. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, research analysts forecast that Krispy Kreme will post -0.06 earnings per share for the current year.

Institutional Trading of Krispy Kreme

Several large investors have recently modified their holdings of DNUT. Hsbc Holdings PLC acquired a new position in Krispy Kreme during the second quarter worth $24,992,000. BlackRock Inc. bought a new position in shares of Krispy Kreme in the second quarter valued at $23,353,000. AlpInvest Partners B.V. acquired a new position in shares of Krispy Kreme during the second quarter valued at about $2,231,000. Lazard Asset Management LLC acquired a new position in shares of Krispy Kreme during the first quarter valued at about $1,883,000. Finally, Carlyle Group Inc. acquired a new position in shares of Krispy Kreme during the second quarter valued at about $1,203,000. Institutional investors and hedge funds own 81.72% of the company’s stock.

About Krispy Kreme

Krispy Kreme, Inc is a global doughnut and coffee company best known for its Original Glazed doughnuts. The company sells doughnuts, packaged sweets, coffee and other beverages through Krispy Kreme shops, in-store retail displays and digital ordering channels.

Krispy Kreme operates a hub-and-spoke distribution model that combines doughnut-making hubs and shops with delivery to grocery stores, convenience stores and other retail locations. Its products are also distributed through partnerships and branded locations, allowing the company to expand its reach beyond traditional Krispy Kreme shops.

Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown into an international brand serving customers in the United States and various markets across North America, Europe, Asia and Oceania.