Kura Sushi USA (NASDAQ:KRUS) Raised to Strong-Buy at Zacks Research

Kura Sushi USA (NASDAQ:KRUS) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Wednesday, Zacks reports.

Several other equities analysts have also recently issued reports on the stock. DA Davidson set a $65.00 price objective on shares of Kura Sushi USA in a research note on Thursday, July 9th. Citigroup reduced their target price on shares of Kura Sushi USA from $64.00 to $59.00 and set a “neutral” rating for the company in a research note on Wednesday, July 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Kura Sushi USA in a report on Friday, August 7th. Roth Capital lowered their price target on Kura Sushi USA from $85.00 to $70.00 and set a “buy” rating on the stock in a report on Wednesday, July 8th. Finally, Lake Street Capital dropped their price target on Kura Sushi USA from $83.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.00.

Kura Sushi USA Trading Up 4.6%

Kura Sushi USA stock opened at $38.91 on Wednesday. The stock has a 50 day moving average of $45.15 and a two-hundred day moving average of $52.04. Kura Sushi USA has a twelve month low of $33.97 and a twelve month high of $80.84. The stock has a market capitalization of $472.76 million, a price-to-earnings ratio of -216.15 and a beta of 1.32.

Kura Sushi USA (NASDAQ:KRUS) last released its earnings results on Tuesday, July 7th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.08. Kura Sushi USA had a negative return on equity of 0.18% and a negative net margin of 0.65%.The business had revenue of $85.92 million for the quarter, compared to analyst estimates of $86.45 million. Equities analysts predict that Kura Sushi USA will post -0.06 earnings per share for the current year.

Hedge Funds Weigh In On Kura Sushi USA

Institutional investors and hedge funds have recently bought and sold shares of the stock. Engineers Gate Manager LP acquired a new position in Kura Sushi USA during the 2nd quarter worth $984,000. Corient Private Wealth LP acquired a new position in shares of Kura Sushi USA in the 2nd quarter worth approximately $2,219,000. Grandeur Peak Global Advisors LLC increased its holdings in shares of Kura Sushi USA by 127.2% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 11,988 shares of the company’s stock valued at $690,000 after acquiring an additional 6,712 shares during the last quarter. Ranger Investment Management L.P. acquired a new stake in shares of Kura Sushi USA during the 2nd quarter valued at approximately $4,322,000. Finally, Moody National Bank Trust Division boosted its holdings in Kura Sushi USA by 30.1% in the second quarter. Moody National Bank Trust Division now owns 53,463 shares of the company’s stock worth $3,077,000 after purchasing an additional 12,366 shares during the period. Hedge funds and other institutional investors own 65.49% of the company’s stock.

About Kura Sushi USA

Kura Sushi USA, Inc operates technology-enabled Japanese restaurants in the United States under the Kura Revolving Sushi Bar name. Its restaurants use a conveyor-belt dining format that allows guests to select individual dishes as they pass by their tables, combining traditional sushi-bar service with an interactive dining experience.

The company’s menu includes a variety of sushi and sashimi, specialty rolls, cooked Japanese dishes, appetizers, desserts and beverages. Kura Sushi USA also uses automation and other restaurant technologies, including touch-screen ordering and systems designed to support food delivery and table service.

Founded in 2008, Kura Sushi USA is affiliated with Kura Sushi, Inc, a Japan-based conveyor-belt sushi restaurant operator.