Krispy Kreme (NASDAQ:DNUT) Upgraded to “Moderate Buy” at Singular Research

Krispy Kreme (NASDAQ:DNUT) was upgraded by equities researchers at Singular Research to a “moderate buy” rating in a research report issued on Wednesday,Zacks.com reports.

Several other research analysts have also recently commented on DNUT. Capital One Financial reduced their price target on Krispy Kreme from $6.00 to $4.00 and set an “equal weight” rating for the company in a research report on Thursday, October 2nd. JPMorgan Chase & Co. reissued an “underweight” rating on shares of Krispy Kreme in a research report on Wednesday, August 27th. BNP Paribas Exane cut Krispy Kreme from an “outperform” rating to a “neutral” rating and set a $3.50 price target for the company. in a research report on Monday, July 21st. Bank of America reduced their price target on Krispy Kreme from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Finally, BNP Paribas raised Krispy Kreme to a “hold” rating in a research report on Monday, July 21st. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $6.45.

Krispy Kreme Stock Up 2.0%

DNUT stock opened at $4.11 on Wednesday. The business has a 50-day moving average of $3.46 and a 200-day moving average of $3.44. 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 stock has a market capitalization of $703.63 million, a P/E ratio of -1.55 and a beta of 1.34.

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

Institutional Trading of Krispy Kreme

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC increased its stake in shares of Krispy Kreme by 522.1% during the first quarter. Millennium Management LLC now owns 2,093,416 shares of the company’s stock worth $10,300,000 after purchasing an additional 1,756,932 shares during the period. Federated Hermes Inc. bought a new position in shares of Krispy Kreme during the first quarter worth approximately $8,271,000. Clearline Capital LP bought a new position in shares of Krispy Kreme during the first quarter worth approximately $3,459,000. Balyasny Asset Management L.P. bought a new position in shares of Krispy Kreme during the second quarter worth approximately $1,567,000. Finally, Divisadero Street Capital Management LP bought a new position in shares of Krispy Kreme during the second quarter worth approximately $1,455,000. Institutional investors own 81.72% of the company’s stock.

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.