Krispy Kreme (NASDAQ:DNUT) Price Target Lowered to $12.00 at Piper Sandler

Krispy Kreme (NASDAQ:DNUT - Get Free Report) had its price target decreased by equities researchers at Piper Sandler from $18.00 to $12.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Piper Sandler's price target would suggest a potential upside of 93.24% from the company's current price.

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

Krispy Kreme Stock Performance

Shares of DNUT traded up $0.01 on Wednesday, reaching $6.21. 5,986,305 shares of the stock traded hands, compared to its average volume of 2,756,464. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 36.53, 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. Krispy Kreme has a 12 month low of $5.88 and a 12 month high of $17.84. The stock's 50-day moving average price is $8.90 and its 200-day moving average price is $10.32.

Remove Ads

Krispy Kreme (NASDAQ:DNUT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.09). Krispy Kreme had a net margin of 1.64% and a return on equity of 0.53%. The company had revenue of $404.00 million during the quarter, compared to the consensus estimate of $413.18 million. During the same quarter last year, the company earned $0.09 earnings per share. The business's revenue was down 10.4% on a year-over-year basis. Equities analysts forecast that Krispy Kreme will post 0.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Krispy Kreme

Several large investors have recently made changes to their positions in DNUT. Blue Trust Inc. lifted its stake in shares of Krispy Kreme by 28.3% during the third quarter. Blue Trust Inc. now owns 8,064 shares of the company's stock valued at $87,000 after acquiring an additional 1,779 shares during the period. Walkner Condon Financial Advisors LLC acquired a new position in shares of Krispy Kreme during the third quarter valued at $346,000. Versor Investments LP acquired a new position in shares of Krispy Kreme during the third quarter valued at $411,000. Sargent Investment Group LLC acquired a new position in shares of Krispy Kreme during the third quarter valued at $215,000. Finally, Connable Office Inc. lifted its stake in shares of Krispy Kreme by 98.3% during the third quarter. Connable Office Inc. now owns 29,968 shares of the company's stock valued at $322,000 after acquiring an additional 14,859 shares during the period. Institutional investors and hedge funds own 81.72% of the company's stock.

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.