Krispy Kreme (NASDAQ:DNUT) Rating Increased to Buy at HSBC

Krispy Kreme (NASDAQ:DNUT) was upgraded by stock analysts at HSBC from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Marketbeat reports. The firm presently has a $14.00 price target on the stock. HSBC’s price objective would indicate a potential upside of 32.58% from the stock’s previous close.

A number of other research analysts have also commented on the company. Bank of America cut their target price on Krispy Kreme from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Piper Sandler upgraded Krispy Kreme from a “neutral” rating to an “overweight” rating and upped their target price for the company from $14.00 to $20.00 in a research note on Friday, April 5th. Truist Financial upgraded Krispy Kreme from a “hold” rating to a “buy” rating and upped their target price for the company from $13.00 to $15.00 in a research note on Monday, June 10th. Citigroup upped their target price on Krispy Kreme from $14.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Finally, JPMorgan Chase & Co. began coverage on Krispy Kreme in a research note on Monday, June 3rd. They set an “overweight” rating and a $14.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $16.25.

Krispy Kreme Stock Down 3.7 %

DNUT opened at $10.56 on Tuesday. Krispy Kreme has a 1-year low of $9.70 and a 1-year high of $17.84. The company has a current ratio of 0.36, a quick ratio of 0.27 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.78 billion, a price-to-earnings ratio of -39.11, a P/E/G ratio of 1.75 and a beta of 1.41. The business has a 50 day moving average of $10.93 and a 200-day moving average of $12.53.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. Krispy Kreme had a positive return on equity of 1.40% and a negative net margin of 2.70%. The company had revenue of $442.70 million during the quarter, compared to analysts’ expectations of $433.87 million. As a group, sell-side analysts anticipate that Krispy Kreme will post 0.16 earnings per share for the current year.

Institutional Trading of Krispy Kreme

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. acquired a new stake in shares of Krispy Kreme in the second quarter valued at $68,000. Tidal Investments LLC acquired a new stake in shares of Krispy Kreme in the first quarter valued at $154,000. Victory Capital Management Inc. acquired a new stake in shares of Krispy Kreme in the fourth quarter valued at $157,000. Armistice Capital LLC acquired a new stake in shares of Krispy Kreme in the fourth quarter valued at $170,000. Finally, Sciencast Management LP acquired a new stake in shares of Krispy Kreme in the first quarter valued at $223,000. 81.72% of the stock is currently owned by institutional investors and hedge funds.

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.