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Article: Krispy Kreme Stock Tempts Investors
- Article from:
- AP Online
- Article date:
- July 30, 2002
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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CHARLOTTE (AP) _ Investors with a hankering for Krispy Kreme Doughnuts
Inc. may be tempted to bite into the stock given its historically
cheap multiples, but some are skeptical because of the company's valuation
relative to others and the topsy-turvy market conditions.
Krispy Kreme's shares are trading around their cheapest multiples
since the company's initial public offering in April 2000. Nevertheless,
even some growth managers said they're turned off by its price-to-
earnings ratio, which remains above other fast-growing restaurant
companies and the market in particular.
Charles P. McCurdy Jr., executive vice president and portfolio manager
of Veredus Asset ...