Krispy Kreme (NASDAQ:DNUT) Stock Rating Upgraded by HSBC

HSBC upgraded shares of Krispy Kreme (NASDAQ:DNUTGet Rating) from a hold rating to a buy rating in a research report sent to investors on Friday, The Fly reports.

DNUT has been the subject of a number of other research reports. Zacks Investment Research lowered shares of Krispy Kreme from a hold rating to a sell rating in a research report on Thursday, April 28th. Morgan Stanley cut their price objective on shares of Krispy Kreme from $20.00 to $18.00 and set an overweight rating for the company in a research report on Thursday, April 14th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Krispy Kreme from $16.00 to $14.00 in a research report on Thursday. Finally, Citigroup cut their price objective on shares of Krispy Kreme from $16.00 to $15.00 and set a neutral rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Krispy Kreme currently has a consensus rating of Hold and a consensus price target of $17.34.

Shares of DNUT opened at $13.09 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.23 and a debt-to-equity ratio of 0.51. The stock has a market cap of $2.19 billion and a P/E ratio of -93.49. The company has a 50-day moving average of $13.96 and a two-hundred day moving average of $14.73. Krispy Kreme has a 12-month low of $11.98 and a 12-month high of $21.69.

Krispy Kreme (NASDAQ:DNUTGet Rating) last announced its earnings results on Tuesday, February 22nd. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $370.60 million for the quarter, compared to analyst estimates of $363.04 million. Krispy Kreme had a positive return on equity of 2.80% and a negative net margin of 1.77%. The business’s quarterly revenue was up 13.8% compared to the same quarter last year. As a group, analysts forecast that Krispy Kreme will post 0.28 EPS for the current fiscal year.

In other Krispy Kreme news, CEO Michael J. Tattersfield bought 9,500 shares of the company’s stock in a transaction on Thursday, March 10th. The shares were bought at an average cost of $13.95 per share, with a total value of $132,525.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Hedge funds have recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new stake in shares of Krispy Kreme in the 3rd quarter worth about $1,428,000. SG Americas Securities LLC increased its holdings in shares of Krispy Kreme by 2,127.1% in the 4th quarter. SG Americas Securities LLC now owns 204,491 shares of the company’s stock worth $3,869,000 after acquiring an additional 195,309 shares during the period. New York State Common Retirement Fund acquired a new stake in shares of Krispy Kreme in the 3rd quarter worth about $108,000. Advisor Group Holdings Inc. acquired a new stake in shares of Krispy Kreme in the 3rd quarter worth about $47,000. Finally, Tudor Investment Corp Et Al acquired a new stake in shares of Krispy Kreme in the 3rd quarter worth about $1,165,000. 68.82% of the stock is currently owned by institutional investors and hedge funds.

About Krispy Kreme (Get Rating)

Krispy Kreme, Inc, together with its subsidiaries, operates through an omni-channel business model to provide doughnut experiences and produce doughnuts. The company operates through three segments: U.S. and Canada, International, and Market Development. It also produces cookies, brownies, cookie cakes, ice cream, cookie-wiches, and cold milk, as well as doughnut mixes, other ingredients, and doughnut-making equipment.

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