Kura Sushi USA (NASDAQ:KRUS) Trading Down 6.1% on Analyst Downgrade

Shares of Kura Sushi USA, Inc. (NASDAQ:KRUS - Get Free Report) dropped 6.1% during mid-day trading on Wednesday after Citigroup lowered their price target on the stock from $116.00 to $71.00. Citigroup currently has a neutral rating on the stock. Kura Sushi USA traded as low as $55.13 and last traded at $55.00. Approximately 33,554 shares changed hands during trading, a decline of 82% from the average daily volume of 185,904 shares. The stock had previously closed at $58.58.

A number of other research analysts have also recently commented on KRUS. Lake Street Capital upgraded Kura Sushi USA from a "hold" rating to a "buy" rating and set a $103.00 price target on the stock in a research note on Friday, February 21st. William Blair reissued an "outperform" rating on shares of Kura Sushi USA in a research note on Wednesday, January 8th. TD Securities initiated coverage on Kura Sushi USA in a report on Tuesday, February 25th. They set a "hold" rating and a $72.00 target price for the company. TD Cowen started coverage on shares of Kura Sushi USA in a research note on Tuesday, February 25th. They set a "hold" rating and a $72.00 price target on the stock. Finally, Benchmark lowered their price objective on shares of Kura Sushi USA from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $87.50.

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Insider Transactions at Kura Sushi USA

In related news, Director Seitaro Ishii sold 6,918 shares of Kura Sushi USA stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $83.03, for a total value of $574,401.54. Following the completion of the transaction, the director now owns 1,313 shares in the company, valued at $109,018.39. The trade was a 84.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Kura Sushi USA

Large investors have recently modified their holdings of the company. Bank of America Corp DE lifted its position in shares of Kura Sushi USA by 4.2% during the 4th quarter. Bank of America Corp DE now owns 5,906 shares of the company's stock worth $535,000 after buying an additional 238 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new stake in Kura Sushi USA during the 4th quarter worth $31,000. Price T Rowe Associates Inc. MD lifted its position in Kura Sushi USA by 13.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,973 shares of the company's stock valued at $360,000 after acquiring an additional 466 shares during the last quarter. Quest Partners LLC boosted its stake in Kura Sushi USA by 237.9% in the third quarter. Quest Partners LLC now owns 669 shares of the company's stock valued at $54,000 after acquiring an additional 471 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Kura Sushi USA by 43.5% in the fourth quarter. US Bancorp DE now owns 1,805 shares of the company's stock valued at $163,000 after acquiring an additional 547 shares in the last quarter. 65.49% of the stock is owned by hedge funds and other institutional investors.

Kura Sushi USA Stock Down 5.1 %

The firm has a fifty day simple moving average of $67.48 and a 200-day simple moving average of $82.65. The company has a market cap of $622.61 million, a PE ratio of -75.88 and a beta of 1.82.

Kura Sushi USA (NASDAQ:KRUS - Get Free Report) last issued its quarterly earnings results on Tuesday, January 7th. The company reported ($0.08) earnings per share for the quarter, topping analysts' consensus estimates of ($0.24) by $0.16. Kura Sushi USA had a negative net margin of 3.08% and a negative return on equity of 0.50%. Equities research analysts forecast that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current fiscal year.

About Kura Sushi USA