Kura Sushi USA (NASDAQ:KRUS) Given New $71.00 Price Target at Citigroup

Kura Sushi USA (NASDAQ:KRUS) had its price target lowered by Citigroup from $116.00 to $71.00 in a research note issued to investors on Wednesday,Benzinga reports. Citigroup currently has a neutral rating on the stock.

A number of other brokerages also recently commented on KRUS. Benchmark decreased their target price on Kura Sushi USA from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Tuesday. TD Securities initiated coverage on Kura Sushi USA in a report on Tuesday, February 25th. They issued a “hold” rating and a $72.00 price target on the stock. TD Cowen initiated coverage on Kura Sushi USA in a research note on Tuesday, February 25th. They set a “hold” rating and a $72.00 price objective for the company. Lake Street Capital upgraded Kura Sushi USA from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Friday, February 21st. Finally, William Blair reiterated an “outperform” rating on shares of Kura Sushi USA in a research report on Wednesday, January 8th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Kura Sushi USA currently has an average rating of “Moderate Buy” and an average target price of $87.50.

Kura Sushi USA Trading Down 7.1 %

KRUS stock opened at $54.41 on Wednesday. The stock’s 50 day simple moving average is $68.01 and its 200 day simple moving average is $82.85. Kura Sushi USA has a 12-month low of $48.66 and a 12-month high of $122.81. The firm has a market cap of $656.51 million, a P/E ratio of -80.01 and a beta of 1.82.

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

Insiders Place Their Bets

In other news, Director Seitaro Ishii sold 6,918 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $109,018.39. This trade represents a 84.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kura Sushi USA

Hedge funds have recently modified their holdings of the stock. Arcadia Investment Management Corp MI acquired a new stake in Kura Sushi USA during the 4th quarter worth about $31,000. Quest Partners LLC increased 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 worth $54,000 after acquiring an additional 471 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Kura Sushi USA during the fourth quarter valued at approximately $61,000. BNP Paribas Financial Markets purchased a new stake in shares of Kura Sushi USA in the 4th quarter valued at approximately $77,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Kura Sushi USA in the 4th quarter worth approximately $109,000. 65.49% of the stock is owned by hedge funds and other institutional investors.

About Kura Sushi USA