Kura Sushi USA (NASDAQ:KRUS) Price Target Lowered to $64.00 at Citigroup

Kura Sushi USA (NASDAQ:KRUS) had its target price reduced by research analysts at Citigroup from $78.00 to $64.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 17.64% from the stock’s previous close.

A number of other research firms have also recently weighed in on KRUS. Lake Street Capital restated a “buy” rating on shares of Kura Sushi USA in a report on Wednesday, April 8th. Zacks Research cut Kura Sushi USA from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Weiss Ratings downgraded shares of Kura Sushi USA from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. DA Davidson reissued a “buy” rating and set a $90.00 target price on shares of Kura Sushi USA in a research report on Monday, April 6th. Finally, Barclays lifted their price objective on shares of Kura Sushi USA from $60.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 8th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Kura Sushi USA presently has a consensus rating of “Hold” and an average target price of $75.75.

Kura Sushi USA Trading Up 3.3%

Shares of KRUS traded up $1.76 during trading hours on Thursday, hitting $54.40. The company had a trading volume of 301,583 shares, compared to its average volume of 341,960. The company has a market capitalization of $660.97 million, a PE ratio of -339.28 and a beta of 1.32. Kura Sushi USA has a one year low of $42.62 and a one year high of $95.98. The company’s fifty day moving average price is $52.85 and its two-hundred day moving average price is $60.11.

Institutional Trading of Kura Sushi USA

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Kura Sushi USA during the second quarter worth $29,000. Key Financial Inc grew its position in shares of Kura Sushi USA by 720.0% in the fourth quarter. Key Financial Inc now owns 615 shares of the company’s stock valued at $32,000 after purchasing an additional 540 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Kura Sushi USA in the 4th quarter valued at about $36,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Kura Sushi USA by 681.5% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 844 shares of the company’s stock worth $50,000 after purchasing an additional 736 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Kura Sushi USA by 95.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,324 shares of the company’s stock worth $79,000 after acquiring an additional 646 shares during the last quarter. Institutional investors and hedge funds own 65.49% of the company’s stock.

Kura Sushi USA Company Profile

Kura Sushi USA, Inc operates Japanese‐style revolving sushi restaurants across the United States. The company’s concept centers on delivering a modern sushi dining experience by combining fresh ingredients with automated conveyer belt and plate‐return systems. Guests can choose from a broad menu that includes nigiri, sashimi, maki rolls, tempura, udon noodles and chef‐inspired seasonal dishes, all served directly from the conveyor belt or ordered on tabletop touchscreens.

Each restaurant integrates patented technology to ensure food quality and operational efficiency.