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

Kura Sushi USA, Inc. (NASDAQ:KRUS)’s share price traded down 6.6% during 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. 57,914 shares were traded during mid-day trading, a decline of 71% from the average session volume of 197,682 shares. The stock had previously closed at $50.91.

A number of other equities research analysts have also commented on the stock. Barclays reduced their price objective on shares of Kura Sushi USA from $75.00 to $52.00 and set an “equal weight” rating on the stock in a research note on Wednesday. TD Securities reaffirmed a “hold” rating and set a $72.00 price target on shares of Kura Sushi USA in a research report on Friday, April 4th. Lake Street Capital lowered their price objective on Kura Sushi USA from $103.00 to $62.00 and set a “buy” rating for the company in a research report on Wednesday. Benchmark cut 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 started coverage on Kura Sushi USA in a research note on Tuesday, February 25th. They set a “hold” rating and a $72.00 target price for the company. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.20.

Insider Activity

In other news, Director Seitaro Ishii sold 6,918 shares of Kura Sushi USA 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 completion of the transaction, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Kura Sushi USA

A number of hedge funds have recently added to or reduced their stakes in KRUS. GAMMA Investing LLC raised its position in Kura Sushi USA by 30,191.7% in the 1st quarter. GAMMA Investing LLC now owns 3,635 shares of the company’s stock valued at $186,000 after buying an additional 3,623 shares during the last quarter. Moody National Bank Trust Division grew its stake in shares of Kura Sushi USA by 21.9% in the 1st quarter. Moody National Bank Trust Division now owns 28,110 shares of the company’s stock worth $1,439,000 after acquiring an additional 5,043 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Kura Sushi USA by 16.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 7,624 shares of the company’s stock valued at $691,000 after purchasing an additional 1,052 shares during the last quarter. Two Sigma Advisers LP lifted its position in shares of Kura Sushi USA by 18.7% during the fourth quarter. Two Sigma Advisers LP now owns 29,900 shares of the company’s stock valued at $2,708,000 after purchasing an additional 4,700 shares in the last quarter. Finally, Two Sigma Investments LP lifted its position in shares of Kura Sushi USA by 82.3% during the fourth quarter. Two Sigma Investments LP now owns 68,585 shares of the company’s stock valued at $6,212,000 after purchasing an additional 30,968 shares in the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.

Kura Sushi USA Price Performance

The firm has a market capitalization of $594.37 million, a PE ratio of -72.44 and a beta of 1.72. The firm’s fifty day moving average is $59.94 and its two-hundred day moving average is $80.06.

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 analysts’ consensus estimates of ($0.08) by ($0.06). The business had revenue of $64.89 million during the quarter, compared to analysts’ expectations of $66.30 million. Kura Sushi USA had a negative net margin of 3.08% and a negative return on equity of 0.50%. During the same period last year, the company posted ($0.09) EPS. As a group, equities research analysts predict that Kura Sushi USA, Inc. will post 0.22 EPS for the current fiscal year.

About Kura Sushi USA