Kura Sushi USA (NASDAQ:KRUS) Shares Gap Down on Analyst Downgrade

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s share price gapped down prior to trading on Thursday after Citigroup lowered their price target on the stock from $71.00 to $47.00. The stock had previously closed at $54.57, but opened at $51.01. Citigroup currently has a neutral rating on the stock. Kura Sushi USA shares last traded at $50.36, with a volume of 47,737 shares.

A number of other research analysts also recently commented on the stock. Lake Street Capital lowered their price objective on shares of Kura Sushi USA from $103.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays lowered their price target on shares of Kura Sushi USA from $75.00 to $52.00 and set an “equal weight” rating on the stock in a report on Wednesday. TD Securities reissued a “hold” rating and set a $72.00 price objective on shares of Kura Sushi USA in a research report on Friday, April 4th. Benchmark dropped their target price on Kura Sushi USA from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Finally, TD Cowen began coverage on Kura Sushi USA in a report on Tuesday, February 25th. They set a “hold” rating and a $72.00 price target for the company. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $77.20.

Insider Activity at Kura Sushi USA

In other news, Director Seitaro Ishii sold 6,918 shares of the business’s stock in a transaction 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 sale, the director now directly owns 1,313 shares in the company, valued at approximately $109,018.39. The trade was a 84.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Arcadia Investment Management Corp MI bought a new stake in Kura Sushi USA during the fourth quarter valued at about $31,000. Quantbot Technologies LP acquired a new stake in Kura Sushi USA in the 4th quarter valued at approximately $61,000. BNP Paribas Financial Markets bought a new position in Kura Sushi USA in the 4th quarter worth approximately $77,000. KLP Kapitalforvaltning AS acquired a new position in shares of Kura Sushi USA during the fourth quarter worth approximately $109,000. Finally, US Bancorp DE boosted its position in shares of 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 during the period. 65.49% of the stock is currently owned by institutional investors and hedge funds.

Kura Sushi USA Price Performance

The firm’s 50 day moving average price is $60.50 and its 200-day moving average price is $80.29. The firm has a market cap of $614.28 million, a price-to-earnings ratio of -74.87 and a beta of 1.72.

Kura Sushi USA (NASDAQ:KRUS) last released its earnings results on Tuesday, April 8th. The company reported ($0.14) earnings per share 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 company had revenue of $64.89 million during the quarter, compared to the consensus estimate of $66.30 million. During the same quarter in the previous year, the business posted ($0.09) EPS. Analysts expect that Kura Sushi USA, Inc. will post 0.22 EPS for the current year.

Kura Sushi USA Company Profile