Krispy Kreme (NASDAQ:DNUT) PT Raised to $16.00 at Bank of America

Krispy Kreme (NASDAQ:DNUT) had its price objective upped by research analysts at Bank of America from $15.00 to $16.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s price target indicates a potential upside of 39.98% from the stock’s previous close.

A number of other analysts also recently weighed in on the company. HSBC upgraded Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Tuesday, July 23rd. Evercore ISI reaffirmed an “in-line” rating and set a $13.00 price target on shares of Krispy Kreme in a research note on Tuesday, August 27th. Finally, Hsbc Global Res upgraded shares of Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.88.

Krispy Kreme Stock Performance

NASDAQ:DNUT opened at $11.43 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.34 and a quick ratio of 0.26. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of -42.33, a price-to-earnings-growth ratio of 3.15 and a beta of 1.41. The firm’s fifty day moving average price is $11.22 and its 200 day moving average price is $11.44. Krispy Kreme has a 1-year low of $9.18 and a 1-year high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. Krispy Kreme had a negative net margin of 2.98% and a positive return on equity of 1.12%. The firm had revenue of $438.80 million during the quarter, compared to analysts’ expectations of $435.43 million. During the same period in the prior year, the company posted $0.04 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. On average, sell-side analysts expect that Krispy Kreme will post 0.13 EPS for the current year.

Hedge Funds Weigh In On Krispy Kreme

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. acquired a new stake in shares of Krispy Kreme in the second quarter valued at approximately $68,000. nVerses Capital LLC purchased a new stake in Krispy Kreme in the 3rd quarter valued at approximately $124,000. Tidal Investments LLC purchased a new stake in Krispy Kreme in the 1st quarter valued at approximately $154,000. American Century Companies Inc. acquired a new stake in Krispy Kreme during the 2nd quarter valued at $185,000. Finally, Sei Investments Co. purchased a new position in Krispy Kreme during the second quarter worth $198,000. 81.72% of the stock is currently 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.