Kura Sushi USA (NASDAQ:KRUS) Stock Price Down 6.6% on Analyst Downgrade

Kura Sushi USA, Inc. (NASDAQ:KRUS) shares dropped 6.6% 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 changed hands during mid-day trading, a decline of 71% from the average daily volume of 197,682 shares. The stock had previously closed at $50.91.

Other equities analysts also recently issued reports about the company. TD Cowen started coverage on Kura Sushi USA in a report on Tuesday, February 25th. They issued a “hold” rating and a $72.00 price objective on the stock. Benchmark cut 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 report on Tuesday, March 25th. TD Securities reiterated a “hold” rating and set a $72.00 price objective on shares of Kura Sushi USA in a research note on Friday, April 4th. Lake Street Capital cut their target price on shares of Kura Sushi USA from $103.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Barclays decreased their price target on shares of Kura Sushi USA from $75.00 to $52.00 and set an “equal weight” rating for the company in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.20.

Insider Buying and Selling

In other news, Director Seitaro Ishii sold 6,918 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $83.03, for a total transaction of $574,401.54. Following the completion of the sale, the director now directly owns 1,313 shares in the company, valued at $109,018.39. This trade represents 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 at this hyperlink. 2.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Arcadia Investment Management Corp MI acquired a new position in shares of Kura Sushi USA in the 4th quarter valued at approximately $31,000. Quantbot Technologies LP acquired a new stake in Kura Sushi USA in the fourth quarter valued at $61,000. BNP Paribas Financial Markets bought a new position in Kura Sushi USA during the 4th quarter valued at $77,000. KLP Kapitalforvaltning AS acquired a new position in Kura Sushi USA during the 4th quarter worth $109,000. Finally, US Bancorp DE increased its position in shares of Kura Sushi USA by 43.5% in the 4th quarter. US Bancorp DE now owns 1,805 shares of the company’s stock worth $163,000 after purchasing an additional 547 shares during the last quarter. Hedge funds and other institutional investors own 65.49% of the company’s stock.

Kura Sushi USA Stock Performance

The business’s 50 day moving average price is $59.94 and its 200-day moving average price is $80.06. The firm has a market cap of $594.37 million, a price-to-earnings ratio of -72.44 and a beta of 1.72.

Kura Sushi USA (NASDAQ:KRUS) last announced its quarterly earnings data on Tuesday, April 8th. The company reported ($0.14) earnings per share (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 firm had revenue of $64.89 million for the quarter, compared to analyst estimates of $66.30 million. During the same quarter in the previous year, the company earned ($0.09) EPS. On average, analysts forecast that Kura Sushi USA, Inc. will post 0.22 earnings per share for the current fiscal year.

Kura Sushi USA Company Profile