Krispy Kreme (NASDAQ:DNUT) Upgraded by HSBC to Buy

Krispy Kreme (NASDAQ:DNUT) was upgraded by equities research analysts at HSBC from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a $14.00 target price on the stock. HSBC’s price target suggests a potential upside of 32.58% from the stock’s previous close.

Other analysts have also issued reports about the company. JPMorgan Chase & Co. started coverage on Krispy Kreme in a report on Monday, June 3rd. They set an “overweight” rating and a $14.00 price target on the stock. Citigroup lifted their price target on Krispy Kreme from $14.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. Truist Financial upgraded Krispy Kreme from a “hold” rating to a “buy” rating and lifted their price target for the stock from $13.00 to $15.00 in a report on Monday, June 10th. Piper Sandler upgraded Krispy Kreme from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $14.00 to $20.00 in a research note on Friday, April 5th. Finally, Bank of America lowered their target price on Krispy Kreme from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $16.25.

Krispy Kreme Stock Down 3.7 %

Shares of NASDAQ:DNUT opened at $10.56 on Tuesday. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of -39.11, a PEG ratio of 1.75 and a beta of 1.41. The company has a quick ratio of 0.27, a current ratio of 0.36 and a debt-to-equity ratio of 0.71. Krispy Kreme has a 12-month low of $9.70 and a 12-month high of $17.84. The business’s 50 day moving average is $10.93 and its 200 day moving average is $12.53.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $442.70 million for the quarter, compared to analyst estimates of $433.87 million. Krispy Kreme had a positive return on equity of 1.40% and a negative net margin of 2.70%. On average, sell-side analysts forecast that Krispy Kreme will post 0.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Krispy Kreme

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. purchased a new position in shares of Krispy Kreme in the 2nd quarter worth about $68,000. Tidal Investments LLC bought a new stake in shares of Krispy Kreme in the 1st quarter valued at about $154,000. Victory Capital Management Inc. bought a new stake in shares of Krispy Kreme in the 4th quarter valued at about $157,000. Armistice Capital LLC bought a new stake in shares of Krispy Kreme in the 4th quarter valued at about $170,000. Finally, Sciencast Management LP bought a new stake in shares of Krispy Kreme in the 1st quarter valued at about $223,000. 81.72% of the stock is currently owned by hedge funds and other institutional investors.

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.