Kura Sushi USA (NASDAQ:KRUS) Given New $58.00 Price Target at TD Cowen

Kura Sushi USA (NASDAQ:KRUS) had its target price decreased by analysts at TD Cowen from $70.00 to $58.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s target price would suggest a potential upside of 2.86% from the company’s current price.

KRUS has been the topic of several other reports. Wall Street Zen raised shares of Kura Sushi USA from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Zacks Research cut shares of Kura Sushi USA from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 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 report on Wednesday, April 8th. Weiss Ratings downgraded shares of Kura Sushi USA from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, May 12th. Finally, Lake Street Capital restated a “buy” rating on shares of Kura Sushi USA in a report on Wednesday, April 8th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Kura Sushi USA currently has a consensus rating of “Hold” and an average price target of $76.92.

Kura Sushi USA Price Performance

KRUS opened at $56.39 on Wednesday. Kura Sushi USA has a one year low of $42.62 and a one year high of $95.98. The company’s 50 day simple moving average is $58.79 and its 200-day simple moving average is $59.94. The stock has a market capitalization of $685.03 million, a P/E ratio of -352.44 and a beta of 1.33.

Hedge Funds Weigh In On Kura Sushi USA

Institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. bought a new stake in shares of Kura Sushi USA in the 2nd quarter valued at about $29,000. Key Financial Inc increased its stake in Kura Sushi USA by 720.0% in the fourth quarter. Key Financial Inc now owns 615 shares of the company’s stock valued at $32,000 after purchasing an additional 540 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Kura Sushi USA in the fourth quarter worth $36,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Kura Sushi USA by 681.5% during the third quarter. Caitong International Asset Management Co. Ltd now owns 844 shares of the company’s stock worth $50,000 after purchasing an additional 736 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of Kura Sushi USA by 95.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,324 shares of the company’s stock valued at $79,000 after buying an additional 646 shares during the period. 65.49% of the stock is currently owned by institutional investors and hedge funds.

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.