Krispy Kreme (NASDAQ:DNUT) Cut to Strong Sell at Zacks Research

Zacks Research cut shares of Krispy Kreme (NASDAQ:DNUT) from a hold rating to a strong sell rating in a report issued on Monday morning,Zacks.com reports.

Other equities analysts also recently issued research reports about the stock. Bank of America dropped their price target on shares of Krispy Kreme from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Friday, July 18th. BNP Paribas Exane downgraded shares of Krispy Kreme from an “outperform” rating to a “neutral” rating and set a $3.50 target price for the company. in a research note on Monday, July 21st. Citigroup lowered their target price on shares of Krispy Kreme from $4.75 to $3.60 and set a “neutral” rating for the company in a research note on Friday, May 9th. Morgan Stanley lowered their target price on shares of Krispy Kreme from $3.00 to $2.50 and set an “overweight” rating for the company in a research note on Monday, July 14th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Krispy Kreme in a research note on Wednesday, May 14th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $6.80.

Krispy Kreme Stock Performance

NASDAQ:DNUT opened at $3.60 on Monday. The company has a fifty day simple moving average of $3.37 and a two-hundred day simple moving average of $4.29. The company has a market cap of $616.32 million, a price-to-earnings ratio of -1.36 and a beta of 1.32. 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 has a 52 week low of $2.50 and a 52 week high of $12.68.

Krispy Kreme (NASDAQ:DNUT) last posted 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). The business had revenue of $379.77 million during the quarter, compared to analyst estimates of $382.25 million. Krispy Kreme had a negative return on equity of 5.55% and a negative net margin of 29.33%.The business’s revenue was down 13.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 EPS. As a group, equities analysts anticipate that Krispy Kreme will post 0.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Krispy Kreme

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Captrust Financial Advisors purchased a new stake in Krispy Kreme in the second quarter valued at $34,000. Two Sigma Securities LLC purchased a new stake in Krispy Kreme in the second quarter valued at $344,000. Oxford Asset Management LLP purchased a new stake in Krispy Kreme in the second quarter valued at $42,000. Engineers Gate Manager LP purchased a new stake in Krispy Kreme in the second quarter valued at $183,000. Finally, Balyasny Asset Management L.P. purchased a new stake in Krispy Kreme in the second quarter valued at $1,567,000. 81.72% of the stock is 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.