Truist Financial Reiterates Buy Rating for Krispy Kreme (NASDAQ:DNUT)

Krispy Kreme (NASDAQ:DNUT)‘s stock had its “buy” rating reaffirmed by investment analysts at Truist Financial in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $12.00 target price on the stock, down from their previous target price of $15.00. Truist Financial’s target price would indicate a potential upside of 93.55% from the company’s previous close.

A number of other analysts also recently weighed in on the company. JPMorgan Chase & Co. decreased their price target on Krispy Kreme from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, November 12th. Morgan Stanley lowered Krispy Kreme from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $12.00 to $6.00 in a research report on Wednesday. Finally, Piper Sandler dropped their price target on Krispy Kreme from $18.00 to $12.00 and set an “overweight” rating on the stock in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.13.

Krispy Kreme Price Performance

DNUT stock opened at $6.20 on Wednesday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 36.47, a P/E/G ratio of 3.24 and a beta of 1.34. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.35 and a quick ratio of 0.28. The company has a 50 day simple moving average of $8.97 and a 200 day simple moving average of $10.34. Krispy Kreme has a 1 year low of $5.88 and a 1 year high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.09). Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The firm had revenue of $404.00 million during the quarter, compared to analyst estimates of $413.18 million. During the same period in the prior year, the company earned $0.09 EPS. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. Research analysts anticipate that Krispy Kreme will post 0.07 EPS for the current fiscal year.

Institutional Trading of Krispy Kreme

Hedge funds have recently made changes to their positions in the stock. Spartan Fund Management Inc. raised its holdings in shares of Krispy Kreme by 150.0% during the 4th quarter. Spartan Fund Management Inc. now owns 5,000 shares of the company’s stock valued at $50,000 after buying an additional 3,000 shares in the last quarter. Point72 DIFC Ltd bought a new position in Krispy Kreme during the third quarter valued at approximately $51,000. Central Pacific Bank Trust Division purchased a new position in shares of Krispy Kreme during the fourth quarter worth approximately $71,000. Blue Trust Inc. lifted its holdings in shares of Krispy Kreme by 28.3% in the 3rd quarter. Blue Trust Inc. now owns 8,064 shares of the company’s stock worth $87,000 after acquiring an additional 1,779 shares during the last quarter. Finally, First Hawaiian Bank purchased a new stake in shares of Krispy Kreme in the 4th quarter valued at $111,000. 81.72% of the stock is owned by 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.