By Stephen Nakrosis
Shares of restaurateur Kura Sushi USA were trading close to a 52-week high Friday, a day after the company released its third-quarter financial results.
At 12:40 p.m. ET, the stock had risen 13% to trade at $96 a share. Earlier in the session, the stock had traded as high as $96.26 a per share.
The stock hit a 52-week high of $96.60 a share on Aug. 15, 2022.
After the bell Thursday, Kura reported third-quarter earnings per share of 16 cents on sales of $49.2 million. In the year-ago period, the company reported EPS of 5 cents on sales of $38 million.
The company also said comparable restaurant sales were up 10.3% compared with the third quarter of 2022.
Kura Sushi USA is expecting fiscal-year 2023 total sales between $187 million and $189 million, it said.
On Friday, Benchmark raised its price target on Kura Sushi USA shares to $100 from $76, and Craig-Hallum raised its price target to $108 from $88, as reported by Benzinga.
Write to Stephen Nakrosis at [email protected]
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