Citigroup Has Lowered Expectations for Kura Sushi USA (NASDAQ:KRUS) Stock Price

Key Points

• Citigroup cut Kura Sushi USA’s price target from $59 to $36 while maintaining a “neutral” rating, implying about 21% upside from the prior close.
• KRUS shares fell 5.6% to $29.68, near their 12-month low of $30.25, and remained well below their 50-day and 200-day moving averages.
• Analyst sentiment is mixed: MarketBeat data shows a consensus “Hold” rating and average price target of $65.90, while institutional investors own 65.49% of the company.

Kura Sushi USA (NASDAQ:KRUS - Get Free Report) had its target price reduced by equities research analysts at Citigroup from $59.00 to $36.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Citigroup's price target suggests a potential upside of 21.29% from the stock's previous close.

KRUS has been the topic of a number of other research reports. Zacks Research raised Kura Sushi USA from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 23rd. Freedom Capital upgraded shares of Kura Sushi USA to a "hold" rating in a report on Wednesday, July 1st. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Kura Sushi USA in a research note on Friday, August 7th. DA Davidson cut their price target on shares of Kura Sushi USA from $65.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday, October 15th. Finally, Roth Capital lowered their price objective on shares of Kura Sushi USA from $85.00 to $70.00 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 assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $65.90.

Kura Sushi USA Trading Down 5.6%

Shares of KRUS stock traded down $1.76 on Monday, hitting $29.68. The stock had a trading volume of 129,193 shares, compared to its average volume of 302,582. Kura Sushi USA has a twelve month low of $30.25 and a twelve month high of $80.84. The company has a fifty day moving average price of $41.23 and a two-hundred day moving average price of $48.45. The firm has a market cap of $360.61 million, a P/E ratio of -166.41 and a beta of 1.29.

Institutional Investors Weigh In On Kura Sushi USA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LP bought a new position in shares of Kura Sushi USA in the 2nd quarter valued at about $2,219,000. Sei Investments Co. raised its holdings in Kura Sushi USA by 92.1% during the first quarter. Sei Investments Co. now owns 44,162 shares of the company's stock worth $3,082,000 after acquiring an additional 21,174 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Kura Sushi USA by 15.4% during the first quarter. Dimensional Fund Advisors LP now owns 187,906 shares of the company's stock valued at $13,110,000 after purchasing an additional 25,031 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Kura Sushi USA during the second quarter valued at approximately $984,000. Finally, Ranger Investment Management L.P. acquired a new position in shares of Kura Sushi USA during the 2nd quarter worth approximately $4,322,000. 65.49% of the stock is owned by institutional investors.

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.

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