Kura Sushi USA (NASDAQ:KRUS) Given New $36.00 Price Target at Citigroup

Kura Sushi USA (NASDAQ:KRUS) had its price objective decreased by equities research analysts at Citigroup from $59.00 to $36.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup‘s target price would indicate a potential upside of 21.29% from the company’s previous close.

KRUS has been the subject of a number of other research reports. TD Cowen reduced their price target on Kura Sushi USA from $58.00 to $51.00 and set a “hold” rating for the company in a report on Wednesday, July 8th. Wall Street Zen cut Kura Sushi USA from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Research upgraded Kura Sushi USA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 23rd. DA Davidson decreased their target price on Kura Sushi USA from $65.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, October 15th. Finally, Lake Street Capital dropped their price target on Kura Sushi USA from $83.00 to $72.00 and set a “buy” rating on the stock in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $65.90.

Kura Sushi USA Trading Down 5.6%

Shares of Kura Sushi USA stock traded down $1.76 during trading on Monday, hitting $29.68. 129,193 shares of the stock were exchanged, compared to its average volume of 302,582. The stock has a market capitalization of $360.61 million, a price-to-earnings ratio of -166.41 and a beta of 1.29. The company has a fifty day moving average price of $41.23 and a 200-day moving average price of $48.45. Kura Sushi USA has a 1-year low of $30.25 and a 1-year high of $80.84.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KRUS. Kings Path Partners LLC acquired a new position in shares of Kura Sushi USA in the third quarter valued at about $213,000. State of Alaska Department of Revenue acquired a new stake in Kura Sushi USA in the 3rd quarter worth about $29,000. Moody National Bank Trust Division raised its stake in Kura Sushi USA by 4.5% in the 3rd quarter. Moody National Bank Trust Division now owns 55,863 shares of the company’s stock worth $2,280,000 after purchasing an additional 2,400 shares in the last quarter. Engineers Gate Manager LP bought a new stake in Kura Sushi USA in the 2nd quarter valued at about $984,000. Finally, Corient Private Wealth LP bought a new stake in Kura Sushi USA in the 2nd quarter valued at about $2,219,000. 65.49% of the stock is owned by institutional investors and hedge funds.

About Kura Sushi USA

Kura Sushi USA, Inc operates technology-enabled Japanese restaurants in the United States under the Kura Revolving Sushi Bar brand. Its restaurants feature a conveyor-belt dining format in which customers select dishes as they pass by, along with touchscreen ordering and automated systems designed to support restaurant operations.

The company’s menu includes a variety of sushi and other Japanese dishes, including nigiri, rolls, sashimi, appetizers, desserts and beverages. Kura Sushi USA also incorporates interactive elements into the dining experience, such as its Bikkura-Pon reward system, which offers customers games and prizes based on returned plates.

Founded in 2008, Kura Sushi USA is headquartered in Irvine, California, and is affiliated with Kura Sushi, Inc, a Japanese restaurant company.