Wedbush Reaffirms “Outperform” Rating for Kona Grill Inc. (KONA)
Kona Grill Inc. (NASDAQ:KONA)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a report released on Saturday. They presently have a $18.00 price target on the stock. Wedbush’s price objective suggests a potential upside of 60.00% from the stock’s previous close.
Several other equities analysts also recently issued reports on KONA. Zacks Investment Research downgraded shares of Kona Grill from a “hold” rating to a “sell” rating in a research note on Wednesday, July 6th. Roth Capital started coverage on shares of Kona Grill in a research note on Thursday, July 7th. They set a “buy” rating and a $15.00 price objective on the stock. Feltl & Co. raised shares of Kona Grill from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 28th. Finally, Oppenheimer Holdings Inc. reduced their price objective on shares of Kona Grill from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $17.40.
Kona Grill (NASDAQ:KONA) traded down 0.97% during trading on Friday, hitting $11.25. 78,734 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $13.04 and its 200 day moving average price is $12.47. Kona Grill has a 12-month low of $9.90 and a 12-month high of $17.75. The stock’s market cap is $117.90 million.
Kona Grill (NASDAQ:KONA) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by $0.03. The firm had revenue of $43.30 million for the quarter, compared to analysts’ expectations of $45.41 million. Kona Grill had a negative net margin of 3.81% and a negative return on equity of 9.54%. The business’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. Analysts anticipate that Kona Grill will post ($0.55) earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers acquired a new stake in Kona Grill during the second quarter valued at about $132,000. BlackRock Investment Management LLC raised its stake in Kona Grill by 8.3% in the second quarter. BlackRock Investment Management LLC now owns 34,110 shares of the company’s stock valued at $366,000 after buying an additional 2,621 shares during the last quarter. Diker Management LLC acquired a new stake in Kona Grill during the first quarter valued at about $480,000. Geode Capital Management LLC raised its stake in Kona Grill by 14.5% in the first quarter. Geode Capital Management LLC now owns 65,140 shares of the company’s stock valued at $843,000 after buying an additional 8,254 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Kona Grill by 0.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 92,334 shares of the company’s stock valued at $990,000 after buying an additional 546 shares during the last quarter. 80.89% of the stock is owned by institutional investors.
Kona Grill Company Profile
Kona Grill, Inc owns and operates upscale casual dining restaurants under the name Kona Grill. The Company owns and operates approximately 40 restaurants in 20 states throughout the United States and Puerto Rico. Its high-volume upscale casual restaurants feature a global menu of contemporary American favorites and sushi.
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