Kura Sushi USA (NASDAQ:KRUS) Shares Down 6.1% After Analyst Downgrade

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s stock price dropped 6.1% 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 were traded during trading, a decline of 82% from the average daily volume of 185,904 shares. The stock had previously closed at $58.58.

Other research analysts also recently issued reports about the company. William Blair reiterated an “outperform” rating on shares of Kura Sushi USA in a research note on Wednesday, January 8th. TD Cowen began coverage on shares of Kura Sushi USA in a report on Tuesday, February 25th. They issued a “hold” rating and a $72.00 price objective on the stock. Lake Street Capital raised shares of Kura Sushi USA from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a research report on Friday, February 21st. Benchmark decreased their price target on shares of Kura Sushi USA from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, TD Securities began coverage on Kura Sushi USA in a research report on Tuesday, February 25th. They issued a “hold” rating and a $72.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

Insider Buying and Selling at Kura Sushi USA

In other Kura Sushi USA news, Director Seitaro Ishii sold 6,918 shares of Kura Sushi USA 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.

Institutional Investors Weigh In On Kura Sushi USA

Hedge funds have recently made changes to their positions in the stock. Arcadia Investment Management Corp MI bought a new position in Kura Sushi USA in the 4th quarter valued at approximately $31,000. Quest Partners LLC lifted its stake in shares of Kura Sushi USA by 237.9% in the 3rd quarter. Quest Partners LLC now owns 669 shares of the company’s stock valued at $54,000 after acquiring an additional 471 shares during the last quarter. Quantbot Technologies LP bought a new stake in Kura Sushi USA during the 4th quarter worth $61,000. BNP Paribas Financial Markets bought a new position in Kura Sushi USA in the fourth quarter valued at about $77,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Kura Sushi USA during the fourth quarter worth about $109,000. 65.49% of the stock is currently owned by institutional investors and hedge funds.

Kura Sushi USA Stock Down 6.6 %

The company has a 50 day moving average price of $68.56 and a 200-day moving average price of $83.05. The company has a market cap of $660.20 million, a price-to-earnings ratio of -81.40 and a beta of 1.82.

Kura Sushi USA (NASDAQ:KRUS) last issued its quarterly earnings results on Tuesday, January 7th. The company reported ($0.08) EPS 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%. On average, analysts forecast that Kura Sushi USA, Inc. will post 0.22 EPS for the current fiscal year.

About Kura Sushi USA