Kura Sushi USA (NASDAQ:KRUS) Shares Gap Up After Strong Earnings

Kura Sushi USA, Inc. (NASDAQ:KRUS - Get Free Report) shares gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $86.78, but opened at $92.49. Kura Sushi USA shares last traded at $76.62, with a volume of 322,695 shares.

The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.07. Kura Sushi USA had a negative return on equity of 0.78% and a negative net margin of 4.06%. The firm had revenue of $73.97 million during the quarter, compared to analyst estimates of $71.82 million.

Analyst Upgrades and Downgrades

KRUS has been the topic of a number of recent research reports. William Blair restated an "outperform" rating on shares of Kura Sushi USA in a report on Wednesday, April 9th. Lake Street Capital increased their price objective on Kura Sushi USA from $62.00 to $98.00 and gave the company a "buy" rating in a report on Wednesday. TD Securities restated a "hold" rating and set a $79.00 target price on shares of Kura Sushi USA in a research note on Wednesday. Barclays increased their target price on Kura Sushi USA from $52.00 to $71.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Finally, Roth Capital reiterated a "buy" rating and issued a $106.00 price objective (up previously from $89.00) on shares of Kura Sushi USA in a research report on Wednesday. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.45.

Institutional Trading of Kura Sushi USA

A number of institutional investors have recently bought and sold shares of KRUS. 12 West Capital Management LP lifted its position in Kura Sushi USA by 12.8% in the 4th quarter. 12 West Capital Management LP now owns 556,415 shares of the company's stock valued at $50,400,000 after acquiring an additional 63,000 shares in the last quarter. Granahan Investment Management LLC lifted its stake in Kura Sushi USA by 9.3% in the first quarter. Granahan Investment Management LLC now owns 401,143 shares of the company's stock valued at $20,539,000 after purchasing an additional 34,114 shares during the last quarter. Portolan Capital Management LLC lifted its stake in Kura Sushi USA by 72.4% in the fourth quarter. Portolan Capital Management LLC now owns 373,253 shares of the company's stock valued at $33,809,000 after purchasing an additional 156,723 shares during the last quarter. Vanguard Group Inc. lifted its stake in Kura Sushi USA by 2.3% in the first quarter. Vanguard Group Inc. now owns 366,043 shares of the company's stock valued at $18,741,000 after purchasing an additional 8,201 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Kura Sushi USA during the fourth quarter worth $24,063,000. Institutional investors own 65.49% of the company's stock.

Kura Sushi USA Stock Down 13.8%

The stock has a market cap of $904.59 million, a PE ratio of -82.79 and a beta of 1.67. The firm has a 50-day simple moving average of $73.08 and a 200-day simple moving average of $70.05.

Kura Sushi USA Company Profile

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