Brokerages Set Krispy Kreme, Inc. (NASDAQ:DNUT) Target Price at $6.80

Krispy Kreme, Inc. (NASDAQ:DNUT) has been assigned an average rating of “Hold” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $6.80.

Several equities research analysts have recently commented on DNUT shares. Zacks Research downgraded Krispy Kreme from a “hold” rating to a “strong sell” rating in a report on Monday, August 25th. Morgan Stanley cut their target price on Krispy Kreme from $3.00 to $2.50 and set an “overweight” rating on the stock in a research report on Monday, July 14th. BNP Paribas raised Krispy Kreme to a “hold” rating in a research report on Monday, July 21st. JPMorgan Chase & Co. reaffirmed an “underweight” rating on shares of Krispy Kreme in a research report on Wednesday, August 27th. Finally, Bank of America cut their target price on Krispy Kreme from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Friday, July 18th.

Krispy Kreme Trading Down 1.6%

NASDAQ DNUT opened at $3.10 on Friday. The company has a market cap of $530.72 million, a price-to-earnings ratio of -1.17 and a beta of 1.32. Krispy Kreme has a 52 week low of $2.50 and a 52 week high of $12.68. The business has a 50 day moving average price of $3.49 and a 200-day moving average price of $3.92. The company has a quick ratio of 0.26, a current ratio of 0.34 and a debt-to-equity ratio of 1.24.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.10). The firm had revenue of $379.77 million for the quarter, compared to the consensus estimate of $382.25 million. Krispy Kreme had a negative net margin of 29.33% and a negative return on equity of 5.55%. The company’s revenue was down 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 EPS. As a group, equities analysts expect that Krispy Kreme will post 0.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DNUT. Capstone Financial Advisors Inc. purchased a new position in Krispy Kreme during the second quarter worth about $29,000. Vanguard Personalized Indexing Management LLC purchased a new position in Krispy Kreme during the second quarter worth about $30,000. R Squared Ltd purchased a new position in Krispy Kreme during the second quarter worth about $31,000. Prudential Financial Inc. purchased a new position in Krispy Kreme during the second quarter worth about $32,000. Finally, Captrust Financial Advisors bought a new position in Krispy Kreme in the 2nd quarter valued at $34,000. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

Krispy Kreme Company Profile

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.