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

Krispy Kreme (NASDAQ:DNUT) had its price objective lifted by investment analysts at Bank of America from $15.00 to $16.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s target price suggests a potential upside of 37.69% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Hsbc Global Res raised Krispy Kreme from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 23rd. Evercore ISI restated an “in-line” rating and issued a $13.00 target price on shares of Krispy Kreme in a research report on Tuesday, August 27th. Finally, HSBC upgraded shares of Krispy Kreme from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Tuesday, July 23rd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $15.88.

Krispy Kreme Price Performance

Krispy Kreme stock traded up $0.15 during midday trading on Tuesday, hitting $11.62. 359,931 shares of the company’s stock were exchanged, compared to its average volume of 2,071,898. The company has a market cap of $1.96 billion, a P/E ratio of -43.04, a PEG ratio of 3.15 and a beta of 1.41. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.26 and a current ratio of 0.34. The stock has a 50-day moving average price of $11.19 and a two-hundred day moving average price of $11.47. Krispy Kreme has a 52-week low of $9.18 and a 52-week high of $17.84.

Krispy Kreme (NASDAQ:DNUT) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.05 earnings per share for the quarter, meeting 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 for the quarter, compared to analysts’ expectations of $435.43 million. During the same quarter last year, the company posted $0.04 EPS. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities research analysts forecast that Krispy Kreme will post 0.13 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC raised its holdings in shares of Krispy Kreme by 1,058.1% during the first quarter. SG Americas Securities LLC now owns 209,100 shares of the company’s stock valued at $3,186,000 after acquiring an additional 191,044 shares in the last quarter. Capstone Investment Advisors LLC boosted its stake in shares of Krispy Kreme by 226.1% during the 1st quarter. Capstone Investment Advisors LLC now owns 172,339 shares of the company’s stock valued at $2,626,000 after purchasing an additional 119,486 shares in the last quarter. Samlyn Capital LLC raised its stake in Krispy Kreme by 120.5% in the second quarter. Samlyn Capital LLC now owns 2,230,176 shares of the company’s stock worth $23,997,000 after buying an additional 1,218,699 shares in the last quarter. Entropy Technologies LP bought a new stake in Krispy Kreme during the 1st quarter valued at approximately $246,000. Finally, Driehaus Capital Management LLC raised its position in shares of Krispy Kreme by 121.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,190,865 shares of the company’s stock worth $12,814,000 after acquiring an additional 653,637 shares in the last quarter. Hedge funds and other institutional investors own 81.72% of the company’s stock.

About Krispy Kreme

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.