Krispy Kreme, Inc. (NASDAQ:DNUT) Receives $4.33 Consensus Price Target from Brokerages

Krispy Kreme, Inc. (NASDAQ:DNUT) has been given an average recommendation of “Reduce” by the six analysts that are presently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $4.3333.

Several research firms recently commented on DNUT. Zacks Research cut shares of Krispy Kreme from a “hold” rating to a “strong sell” rating in a research note on Thursday, August 6th. Weiss Ratings lowered shares of Krispy Kreme from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Evercore set a $4.00 price objective on shares of Krispy Kreme in a report on Friday, August 7th. Finally, Wall Street Zen lowered shares of Krispy Kreme from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th.

Krispy Kreme Stock Performance

DNUT opened at $3.56 on Friday. The company has a quick ratio of 0.29, a current ratio of 0.36 and a debt-to-equity ratio of 1.28. The stock’s 50 day moving average price is $3.37 and its two-hundred day moving average price is $3.42. The firm has a market capitalization of $613.74 million, a P/E ratio of -6.36 and a beta of 1.27. Krispy Kreme has a 12-month low of $2.88 and a 12-month high of $5.11.

Krispy Kreme (NASDAQ:DNUT) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Krispy Kreme had a negative return on equity of 1.17% and a negative net margin of 6.16%.The company had revenue of $331.00 million during the quarter, compared to analyst estimates of $303.35 million. During the same period in the previous year, the company earned ($0.15) earnings per share. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. On average, equities analysts forecast that Krispy Kreme will post -0.07 earnings per share for the current year.

Insider Transactions at Krispy Kreme

In other news, Director Bernardo Hees purchased 235,875 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was purchased at an average price of $3.39 per share, with a total value of $799,616.25. Following the acquisition, the director directly owned 1,229,037 shares in the company, valued at approximately $4,166,435.43. The trade was a 23.75% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought 856,102 shares of company stock worth $2,892,574 in the last 90 days. Insiders own 1.60% of the company’s stock.

Institutional Trading of Krispy Kreme

Several institutional investors have recently modified their holdings of the company. Carlyle Group Inc. bought a new position in shares of Krispy Kreme during the 2nd quarter worth about $1,203,000. AlpInvest Partners B.V. acquired a new stake in shares of Krispy Kreme during the 2nd quarter valued at about $2,231,000. Lazard Asset Management LLC bought a new stake in Krispy Kreme in the first quarter valued at about $1,883,000. Trustees of the University of Pennsylvania bought a new stake in Krispy Kreme in the fourth quarter valued at about $8,077,000. Finally, State of Wyoming acquired a new position in Krispy Kreme in the second quarter worth about $134,000. Institutional investors and hedge funds own 81.72% of the company’s stock.

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.