Kura Sushi USA (NASDAQ:KRUS) Cut to Hold at Zacks Research

Kura Sushi USA (NASDAQ:KRUS) was downgraded by stock analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued research reports about the stock. DA Davidson reaffirmed a “buy” rating and set a $90.00 price target on shares of Kura Sushi USA in a research note on Monday, April 6th. Citigroup lifted their price target on shares of Kura Sushi USA from $65.00 to $78.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Kura Sushi USA in a research note on Friday, April 10th. Lake Street Capital reaffirmed a “buy” rating on shares of Kura Sushi USA in a research note on Wednesday, April 8th. Finally, Benchmark reaffirmed a “buy” rating on shares of Kura Sushi USA in a research note on Thursday, January 8th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $77.00.

Kura Sushi USA Price Performance

Kura Sushi USA stock opened at $56.30 on Wednesday. Kura Sushi USA has a 12-month low of $42.62 and a 12-month high of $95.98. The company has a market capitalization of $684.05 million, a price-to-earnings ratio of -351.88 and a beta of 1.33. The firm’s fifty day moving average price is $61.60 and its 200 day moving average price is $60.62.

Institutional Investors Weigh In On Kura Sushi USA

Several 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% in the 1st quarter. Stephens Inc. AR now owns 1,107,263 shares of the company’s stock worth $77,276,000 after purchasing an additional 267,955 shares during the last quarter. Granahan Investment Management LLC increased its position in shares of Kura Sushi USA by 17.3% in the 4th quarter. Granahan Investment Management LLC now owns 787,108 shares of the company’s stock worth $41,189,000 after purchasing an additional 116,096 shares during the last quarter. Divisadero Street Capital Management LP bought a new stake in shares of Kura Sushi USA in the 3rd quarter worth about $34,586,000. Balyasny Asset Management L.P. bought a new stake in shares of Kura Sushi USA in the 4th quarter worth about $19,194,000. Finally, Ameriprise Financial Inc. increased its position in shares of Kura Sushi USA by 17.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 345,958 shares of the company’s stock worth $29,780,000 after purchasing an additional 51,574 shares during the last quarter. Institutional investors own 65.49% of the company’s stock.

About Kura Sushi USA

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.