Zacks Investment Research Lowers Kona Grill Inc. (KONA) to Sell
According to Zacks, “Kona Grill owns and operates restaurants in Scottsdale, Ariz.; Chandler, Ariz.; Kansas City, Mo.; Las Vegas, Nev.; Denver, Colo.; Omaha, Neb.; Carmel, Ind.; and Sugar Land (Houston), Texas. Kona Grill restaurants offer freshly prepared food, personalized service, and a warm, contemporary ambiance that creates an exceptional, yet affordable, dining experience. Kona Grill restaurants serve a diverse selection of mainstream American dishes as well as a variety of appetizers and entrees with an international influence. “
KONA has been the subject of several other research reports. Oppenheimer Holdings Inc. cut their target price on Kona Grill from $20.00 to $17.00 and set an outperform rating for the company in a research note on Thursday, July 28th. Wedbush cut their target price on Kona Grill from $21.00 to $18.00 and set an outperform rating for the company in a research note on Thursday, July 28th. Feltl & Co. raised Kona Grill from a buy rating to a strong-buy rating in a research note on Thursday, July 28th. Finally, Roth Capital started coverage on Kona Grill in a research note on Thursday, July 7th. They issued a buy rating and a $15.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $17.40.
Shares of Kona Grill (NASDAQ:KONA) opened at 11.95 on Tuesday. The stock has a 50 day moving average of $13.26 and a 200 day moving average of $12.50. Kona Grill has a 1-year low of $9.90 and a 1-year high of $17.86. The company’s market cap is $125.24 million.
Kona Grill (NASDAQ:KONA) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The company earned $43.30 million during the quarter, compared to the consensus estimate of $45.41 million. Kona Grill had a negative return on equity of 9.54% and a negative net margin of 3.81%. The firm’s revenue for the quarter was up 19.6% on a year-over-year basis. During the same quarter last year, the company posted $0.01 earnings per share. Analysts predict that Kona Grill will post ($0.55) EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers acquired a new stake in shares of Kona Grill during the second quarter worth approximately $132,000. BlackRock Investment Management LLC raised its stake in shares of Kona Grill by 8.3% in the second quarter. BlackRock Investment Management LLC now owns 34,110 shares of the company’s stock worth $366,000 after buying an additional 2,621 shares during the last quarter. Diker Management LLC acquired a new stake in shares of Kona Grill during the first quarter worth approximately $480,000. Geode Capital Management LLC raised its stake in shares of Kona Grill by 14.5% in the first quarter. Geode Capital Management LLC now owns 65,140 shares of the company’s stock worth $843,000 after buying an additional 8,254 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in shares of Kona Grill by 0.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 92,334 shares of the company’s stock worth $990,000 after buying an additional 546 shares during the last quarter. 80.89% of the stock is owned by hedge funds and other institutional investors.
About Kona Grill
Kona Grill, Inc owns and operates upscale casual dining restaurants under the name Kona Grill. The Company owns and operates approximately 40 restaurants in 20 states throughout the United States and Puerto Rico. Its high-volume upscale casual restaurants feature a global menu of contemporary American favorites and sushi.
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