Krispy Kreme (NASDAQ:DNUT) Receives Buy Rating from Truist Financial

Krispy Kreme (NASDAQ:DNUT)‘s stock had its “buy” rating reaffirmed by analysts at Truist Financial in a note issued to investors on Wednesday,Benzinga reports. They presently have a $12.00 target price on the stock, down from their previous target price of $15.00. Truist Financial’s price target would indicate a potential upside of 93.55% from the stock’s current price.

DNUT has been the topic of several other reports. JPMorgan Chase & Co. lowered their price target on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley downgraded Krispy Kreme from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $12.00 to $6.00 in a report on Wednesday. Finally, Piper Sandler cut their price target on Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $13.13.

Krispy Kreme Price Performance

Shares of DNUT stock opened at $6.20 on Wednesday. The business’s fifty day moving average is $8.97 and its 200 day moving average is $10.34. The company has a quick ratio of 0.28, a current ratio of 0.35 and a debt-to-equity ratio of 0.67. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 36.47, a PEG ratio of 3.24 and a beta of 1.34. Krispy Kreme has a twelve month low of $5.88 and a twelve month high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.09). The firm had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $413.18 million. Krispy Kreme had a return on equity of 0.53% and a net margin of 1.64%. Krispy Kreme’s revenue was down 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Research analysts expect that Krispy Kreme will post 0.07 EPS for the current fiscal year.

Institutional Trading of Krispy Kreme

Hedge funds and other institutional investors have recently modified their holdings of the company. Spartan Fund Management Inc. lifted its stake in shares of Krispy Kreme by 150.0% during the 4th quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock valued at $50,000 after buying an additional 3,000 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Krispy Kreme during the third quarter valued at about $51,000. Central Pacific Bank Trust Division purchased a new position in shares of Krispy Kreme in the fourth quarter valued at about $71,000. Blue Trust Inc. boosted its stake in shares of Krispy Kreme by 28.3% in the third quarter. Blue Trust Inc. now owns 8,064 shares of the company’s stock worth $87,000 after acquiring an additional 1,779 shares during the period. Finally, First Hawaiian Bank bought a new position in shares of Krispy Kreme in the fourth quarter worth about $111,000. 81.72% of the stock is owned by hedge funds and other institutional investors.

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.