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

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s share price 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.

KRUS has been the subject of several other research reports. TD Securities assumed coverage on shares of Kura Sushi USA in a report on Tuesday, February 25th. They issued a “hold” rating and a $72.00 target price for the company. Benchmark decreased 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. William Blair restated an “outperform” rating on shares of Kura Sushi USA in a research note on Wednesday, January 8th. TD Cowen started coverage on Kura Sushi USA in a research report on Tuesday, February 25th. They set a “hold” rating and a $72.00 price target for the company. Finally, 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 report on Friday, February 21st. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.50.

Insiders Place Their Bets

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

Hedge Funds Weigh In On Kura Sushi USA

Several large investors have recently modified their holdings of KRUS. Bank of America Corp DE boosted its holdings in Kura Sushi USA by 4.2% in 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 period. Arcadia Investment Management Corp MI purchased a new stake in shares of Kura Sushi USA during the fourth quarter worth $31,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 worth $360,000 after acquiring an additional 466 shares during the period. Quest Partners LLC grew its position in shares of 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 purchasing an additional 471 shares in the last quarter. Finally, US Bancorp DE raised its stake in shares of Kura Sushi USA by 43.5% during the 4th quarter. US Bancorp DE now owns 1,805 shares of the company’s stock valued at $163,000 after purchasing an additional 547 shares during the period. Hedge funds and other institutional investors own 65.49% of the company’s stock.

Kura Sushi USA Trading Down 7.1 %

The business has a fifty day moving average of $68.01 and a 200-day moving average of $82.85. The firm has a market cap of $656.51 million, a PE ratio of -80.01 and a beta of 1.82.

Kura Sushi USA (NASDAQ:KRUS) last announced its quarterly earnings results on Tuesday, January 7th. The company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.16. Kura Sushi USA had a negative return on equity of 0.50% and a negative net margin of 3.08%. On average, equities analysts forecast that Kura Sushi USA, Inc. will post 0.22 EPS for the current year.

Kura Sushi USA Company Profile