Krispy Kreme (NASDAQ:DNUT) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Krispy Kreme (NASDAQ:DNUTGet Rating) from a sell rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

According to Zacks, “Krispy Kreme Inc., together with its subsidiaries, operates as a branded retailer and wholesaler of doughnuts, coffee and other complementary beverages and treats and packaged sweets. The company operating segments include Company Stores, Domestic Franchise, International Franchise, and KK Supply Chain. Krispy Kreme Inc. is based in NC, United States. “

A number of other brokerages have also recently commented on DNUT. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Krispy Kreme from $16.00 to $14.00 in a report on Thursday, May 12th. HSBC raised shares of Krispy Kreme from a hold rating to a buy rating and set a $17.00 price objective on the stock in a research note on Friday. Morgan Stanley decreased their target price on shares of Krispy Kreme from $20.00 to $18.00 and set an overweight rating for the company in a research note on Thursday, April 14th. Finally, Citigroup dropped their price target on Krispy Kreme from $16.00 to $15.00 and set a neutral rating on the stock in a research report on Thursday, May 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $17.57.

Shares of NASDAQ DNUT opened at $14.44 on Monday. Krispy Kreme has a 1 year low of $11.98 and a 1 year high of $21.69. The company’s 50-day moving average is $13.95 and its 200 day moving average is $14.78. The company has a current ratio of 0.30, a quick ratio of 0.22 and a debt-to-equity ratio of 0.50.

Krispy Kreme (NASDAQ:DNUTGet Rating) last posted its earnings results on Tuesday, February 22nd. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $370.60 million for the quarter, compared to analysts’ expectations of $363.04 million. Krispy Kreme had a positive return on equity of 3.31% and a negative net margin of 1.22%. The company’s revenue for the quarter was up 13.8% on a year-over-year basis. On average, research analysts anticipate that Krispy Kreme will post 0.28 EPS for the current fiscal year.

In other Krispy Kreme news, CEO Michael J. Tattersfield purchased 9,500 shares of the firm’s stock in a transaction dated Thursday, March 10th. The stock was purchased at an average price of $13.95 per share, for a total transaction of $132,525.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

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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