Kura Sushi USA (NASDAQ:KRUS) Shares Down 6.6% After Analyst Downgrade

Kura Sushi USA, Inc. (NASDAQ:KRUS - Get Free Report) was down 6.6% during mid-day trading on Friday after Citigroup lowered their price target on the stock from $71.00 to $47.00. Citigroup currently has a neutral rating on the stock. Kura Sushi USA traded as low as $45.71 and last traded at $47.53. Approximately 57,914 shares traded hands during trading, a decline of 71% from the average daily volume of 197,682 shares. The stock had previously closed at $50.91.

KRUS has been the topic of a number of other research reports. William Blair reiterated an "outperform" rating on shares of Kura Sushi USA in a research report on Wednesday, April 9th. Lake Street Capital cut their price target on Kura Sushi USA from $103.00 to $62.00 and set a "buy" rating for the company in a report on Wednesday, April 9th. Benchmark cut their target price on Kura Sushi USA from $115.00 to $100.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Barclays dropped their price objective on shares of Kura Sushi USA from $75.00 to $52.00 and set an "equal weight" rating for the company in a report on Wednesday, April 9th. Finally, TD Cowen initiated coverage on shares of Kura Sushi USA in a research note on Tuesday, February 25th. They issued a "hold" rating and a $72.00 price target for the company. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $77.20.

Remove Ads

Insider Activity

In other news, Director Seitaro Ishii sold 6,918 shares of the business's stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $83.03, for a total value of $574,401.54. Following the completion of the sale, the director now directly owns 1,313 shares of the company's stock, valued at approximately $109,018.39. The trade was a 84.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company's stock.

Institutional Investors Weigh In On Kura Sushi USA

Several large investors have recently modified their holdings of KRUS. Bank of America Corp DE boosted its stake in 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 purchasing an additional 238 shares during the period. Arcadia Investment Management Corp MI purchased a new position in Kura Sushi USA in the 4th quarter valued at approximately $31,000. Price T Rowe Associates Inc. MD raised its holdings in Kura Sushi USA by 13.3% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,973 shares of the company's stock worth $360,000 after purchasing an additional 466 shares during the last quarter. US Bancorp DE boosted its position in Kura Sushi USA by 43.5% during the fourth quarter. US Bancorp DE now owns 1,805 shares of the company's stock worth $163,000 after purchasing an additional 547 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in Kura Sushi USA in the fourth quarter valued at $61,000. 65.49% of the stock is owned by institutional investors and hedge funds.

Kura Sushi USA Price Performance

The business has a 50-day moving average price of $59.10 and a two-hundred day moving average price of $79.65. The firm has a market cap of $664.23 million, a PE ratio of -80.95 and a beta of 1.72.

Kura Sushi USA (NASDAQ:KRUS - Get Free Report) last released its earnings results on Tuesday, April 8th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.06). Kura Sushi USA had a negative net margin of 3.08% and a negative return on equity of 0.50%. The business had revenue of $64.89 million during the quarter, compared to analyst estimates of $66.30 million. During the same quarter in the previous year, the company posted ($0.09) earnings per share. Equities analysts expect that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current fiscal year.

About Kura Sushi USA