Barclays Reaffirms Overweight Rating for Dunkin Brands Group (DNKN)
Dunkin Brands Group (NASDAQ:DNKN)‘s stock had its “overweight” rating restated by equities researchers at Barclays in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They presently have a $70.00 target price on the restaurant operator’s stock, up from their previous target price of $63.00. Barclays’ target price points to a potential upside of 9.89% from the company’s current price.
A number of other equities analysts also recently commented on the stock. BMO Capital Markets set a $58.00 target price on shares of Dunkin Brands Group and gave the stock a “hold” rating in a research note on Friday, October 27th. Robert W. Baird reiterated a “buy” rating and set a $63.00 price objective on shares of Dunkin Brands Group in a research note on Friday, October 20th. Credit Suisse Group reiterated a “buy” rating and set a $68.00 price objective (up from $61.00) on shares of Dunkin Brands Group in a research note on Thursday, December 21st. Maxim Group reiterated a “buy” rating and set a $64.00 price objective on shares of Dunkin Brands Group in a research note on Thursday, October 26th. Finally, Zacks Investment Research upgraded shares of Dunkin Brands Group from a “hold” rating to a “buy” rating and set a $74.00 price objective on the stock in a research note on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $61.05.
Shares of Dunkin Brands Group (DNKN) traded down $0.69 during mid-day trading on Tuesday, reaching $63.70. 624,400 shares of the company’s stock were exchanged, compared to its average volume of 727,640. The company has a debt-to-equity ratio of -13.82, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market cap of $5,815.89, a P/E ratio of 27.82, a P/E/G ratio of 1.62 and a beta of 0.30. Dunkin Brands Group has a twelve month low of $50.54 and a twelve month high of $66.44.
Dunkin Brands Group announced that its Board of Directors has authorized a stock buyback plan on Thursday, October 26th that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the restaurant operator to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. IHT Wealth Management LLC purchased a new position in shares of Dunkin Brands Group in the second quarter worth $104,000. Moon Capital Management LLC purchased a new position in shares of Dunkin Brands Group in the fourth quarter worth $193,000. Boyd Watterson Asset Management LLC OH purchased a new position in shares of Dunkin Brands Group in the fourth quarter worth $221,000. FNY Partners Fund LP raised its holdings in shares of Dunkin Brands Group by 95.0% in the third quarter. FNY Partners Fund LP now owns 3,900 shares of the restaurant operator’s stock worth $207,000 after buying an additional 1,900 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new position in shares of Dunkin Brands Group in the third quarter worth $224,000. Institutional investors own 90.68% of the company’s stock.
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About Dunkin Brands Group
Dunkin’ Brands Group, Inc is a franchisor of quick service restaurants (QSRs) serving hot and cold coffee and baked goods, as well as hard serve ice cream. The Company franchises restaurants under its Dunkin’ Donuts and Baskin-Robbins brands. The Company operates through four segments: Dunkin’ Donuts-U.S., Dunkin’ Donuts International, Baskin-Robbins International and Baskin-Robbins-U.S.
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