Citigroup Has Lowered Expectations for Kura Sushi USA (NASDAQ:KRUS) Stock Price

Kura Sushi USA (NASDAQ:KRUS) had its price objective reduced by stock analysts at Citigroup from $71.00 to $47.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target points to a potential downside of 5.58% from the company’s previous close.

Other analysts also recently issued research reports about the stock. TD Cowen began coverage on shares of Kura Sushi USA in a research report on Tuesday, February 25th. They issued a “hold” rating and a $72.00 price target for the company. William Blair reissued an “outperform” rating on shares of Kura Sushi USA in a research report on Wednesday. TD Securities reaffirmed a “hold” rating and issued a $72.00 price target on shares of Kura Sushi USA in a research report on Friday, April 4th. Lake Street Capital decreased their price objective on Kura Sushi USA from $103.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday. Finally, 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 report on Tuesday, March 25th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Kura Sushi USA currently has an average rating of “Moderate Buy” and an average price target of $77.20.

Kura Sushi USA Stock Down 8.8 %

KRUS traded down $4.79 during midday trading on Thursday, hitting $49.78. The company had a trading volume of 105,799 shares, compared to its average volume of 273,119. The stock’s 50 day moving average price is $61.04 and its 200 day moving average price is $80.51. Kura Sushi USA has a 52 week low of $40.03 and a 52 week high of $121.99. The company has a market capitalization of $600.65 million, a price-to-earnings ratio of -73.32 and a beta of 1.72.

Kura Sushi USA (NASDAQ:KRUS) last posted its quarterly earnings results on Tuesday, April 8th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.06). Kura Sushi USA had a negative return on equity of 0.50% and a negative net margin of 3.08%. The firm had revenue of $64.89 million for the quarter, compared to analyst estimates of $66.30 million. During the same period last year, the company posted ($0.09) earnings per share. Research analysts predict that Kura Sushi USA will post 0.22 EPS for the current year.

Insider Buying and Selling at Kura Sushi USA

In related news, Director Seitaro Ishii sold 6,918 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $83.03, for a total value of $574,401.54. Following the sale, the director now owns 1,313 shares in the company, valued at approximately $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 SEC, which is accessible through the SEC website. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Kura Sushi USA

A number of institutional investors have recently added to or reduced their stakes in KRUS. 12 West Capital Management LP boosted its position in shares of Kura Sushi USA by 12.8% during the 4th quarter. 12 West Capital Management LP now owns 556,415 shares of the company’s stock valued at $50,400,000 after acquiring an additional 63,000 shares during the last quarter. Portolan Capital Management LLC lifted its position in Kura Sushi USA by 72.4% during the fourth quarter. Portolan Capital Management LLC now owns 373,253 shares of the company’s stock valued at $33,809,000 after purchasing an additional 156,723 shares during the last quarter. Granahan Investment Management LLC lifted its position in Kura Sushi USA by 16.4% during the fourth quarter. Granahan Investment Management LLC now owns 367,029 shares of the company’s stock valued at $33,245,000 after purchasing an additional 51,599 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Kura Sushi USA by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 357,842 shares of the company’s stock worth $32,413,000 after buying an additional 19,025 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Kura Sushi USA during the 4th quarter valued at $24,063,000. 65.49% of the stock is currently owned by institutional investors.

About Kura Sushi USA