Krispy Kreme (NASDAQ:DNUT) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of Krispy Kreme (NASDAQ:DNUT) from a sell rating to a hold rating in a report issued on Sunday morning.

A number of other research firms have also recently weighed in on DNUT. Capital One Financial raised Krispy Kreme from an “equal weight” rating to an “overweight” rating and set a $6.00 price objective on the stock in a research report on Thursday, March 26th. Zacks Research raised Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 27th. Morgan Stanley reaffirmed an “underweight” rating and set a $3.00 price objective on shares of Krispy Kreme in a research report on Tuesday, January 20th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Krispy Kreme in a research report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Krispy Kreme presently has an average rating of “Hold” and a consensus target price of $4.63.

Krispy Kreme Stock Performance

Krispy Kreme stock opened at $3.23 on Friday. Krispy Kreme has a 52-week low of $2.50 and a 52-week high of $5.73. The company has a quick ratio of 0.36, a current ratio of 0.42 and a debt-to-equity ratio of 1.31. The company has a market cap of $556.85 million, a P/E ratio of -1.08 and a beta of 1.32. The business has a 50-day simple moving average of $3.51 and a two-hundred day simple moving average of $3.69.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.02). Krispy Kreme had a negative net margin of 33.36% and a negative return on equity of 4.34%. The company had revenue of $367.03 million for the quarter, compared to analysts’ expectations of $359.42 million. During the same period in the previous year, the firm earned ($0.05) earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. Analysts predict that Krispy Kreme will post -0.01 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. purchased a new position in Krispy Kreme in the 2nd quarter worth approximately $32,000. Russell Investments Group Ltd. lifted its holdings in Krispy Kreme by 1,229.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 8,469 shares of the company’s stock worth $33,000 after purchasing an additional 7,832 shares in the last quarter. Captrust Financial Advisors purchased a new position in Krispy Kreme in the 2nd quarter worth approximately $34,000. Apollon Wealth Management LLC purchased a new position in Krispy Kreme in the 1st quarter worth approximately $35,000. Finally, Raymond James Financial Inc. purchased a new position in Krispy Kreme in the 2nd quarter worth approximately $37,000. 81.72% of the stock is owned by hedge funds and other institutional investors.

About Krispy Kreme

Krispy Kreme Doughnuts, Inc (NASDAQ: DNUT) is a global retailer and wholesaler renowned for its signature Original Glazed doughnut and a variety of other sweet treats. The company operates through a combination of company-owned stores, franchise outlets and strategic partnerships with supermarkets, convenience stores and other foodservice channels. In addition to its doughnut portfolio, Krispy Kreme offers freshly brewed coffee, assorted beverages and proprietary seasonal items designed to drive traffic and foster brand loyalty.

Founded in 1937 in Winston-Salem, North Carolina, by Vernon Rudolph, Krispy Kreme has grown from a single local shop to a multinational brand.