Citigroup Issues Pessimistic Forecast for Kura Sushi USA (NASDAQ:KRUS) Stock Price

Kura Sushi USA (NASDAQ:KRUS) had its price target decreased by stock analysts at Citigroup from $78.00 to $64.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 17.64% from the company’s current price.

A number of other brokerages have also weighed in on KRUS. TD Cowen reissued a “hold” rating and issued a $58.00 target price on shares of Kura Sushi USA in a research report on Wednesday, June 3rd. Barclays boosted their target price on shares of Kura Sushi USA from $60.00 to $68.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 8th. Lake Street Capital restated a “buy” rating on shares of Kura Sushi USA in a research note on Wednesday, April 8th. Weiss Ratings lowered Kura Sushi USA from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, May 12th. Finally, DA Davidson reiterated a “buy” rating and set a $90.00 price objective on shares of Kura Sushi USA in a research report on Monday, April 6th. 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 company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $75.75.

Kura Sushi USA Price Performance

Kura Sushi USA stock traded up $1.76 during mid-day trading on Thursday, reaching $54.40. 301,583 shares of the company traded hands, compared to its average volume of 341,960. Kura Sushi USA has a 52-week low of $42.62 and a 52-week high of $95.98. The firm’s 50 day moving average price is $52.85 and its 200 day moving average price is $60.11. The firm has a market capitalization of $660.97 million, a price-to-earnings ratio of -339.28 and a beta of 1.32.

Hedge Funds Weigh In On Kura Sushi USA

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Stephens Inc. AR increased its position in shares of Kura Sushi USA by 31.9% during the 1st quarter. Stephens Inc. AR now owns 1,107,263 shares of the company’s stock valued at $77,276,000 after purchasing an additional 267,955 shares during the last quarter. Granahan Investment Management LLC increased its position in Kura Sushi USA by 17.3% during the fourth quarter. Granahan Investment Management LLC now owns 787,108 shares of the company’s stock valued at $41,189,000 after acquiring an additional 116,096 shares during the last quarter. Divisadero Street Capital Management LP purchased a new stake in shares of Kura Sushi USA in the third quarter valued at $34,586,000. Balyasny Asset Management L.P. purchased a new position in shares of Kura Sushi USA during the 4th quarter worth about $19,194,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Kura Sushi USA by 17.5% in the second quarter. Ameriprise Financial Inc. now owns 345,958 shares of the company’s stock worth $29,780,000 after buying an additional 51,574 shares during the period. Institutional investors 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.