Zacks Investment Research Lowers Kona Grill Inc. (KONA) to Sell
Kona Grill Inc. (NASDAQ:KONA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.
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. “
Several other analysts also recently issued reports on KONA. Oppenheimer Holdings Inc. cut their price objective on Kona Grill from $20.00 to $17.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Feltl & Co. upgraded Kona Grill from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 28th. Wedbush cut their price objective on Kona Grill from $21.00 to $18.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Finally, Roth Capital initiated coverage on Kona Grill in a report on Thursday, July 7th. They set a “buy” rating and a $15.00 price objective on the stock. Two investment 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 company currently has an average rating of “Buy” and an average price target of $17.40.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/09/zacks-investment-research-lowers-kona-grill-inc-kona-to-sell-2.html
Kona Grill (NASDAQ:KONA) traded down 1.17% during mid-day trading on Tuesday, hitting $11.81. 84,577 shares of the stock were exchanged. Kona Grill has a 52 week low of $9.90 and a 52 week high of $17.86. The stock’s market cap is $123.77 million. The company has a 50 day moving average price of $13.24 and a 200 day moving average price of $12.49.
Kona Grill (NASDAQ:KONA) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The company had revenue of $43.30 million for the quarter, compared to analyst estimates of $45.41 million. Kona Grill had a negative return on equity of 9.54% and a negative net margin of 3.81%. Kona Grill’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 EPS. Analysts expect that Kona Grill will post ($0.55) EPS for the current fiscal year.
Several large investors have recently made changes to their positions in KONA. Royal Bank of Canada boosted its stake in shares of Kona Grill by 0.5% in the second quarter. Royal Bank of Canada now owns 1,113,222 shares of the company’s stock valued at $11,934,000 after buying an additional 5,964 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Kona Grill by 39.5% in the first quarter. Wellington Management Group LLP now owns 997,602 shares of the company’s stock valued at $12,919,000 after buying an additional 282,435 shares during the last quarter. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Kona Grill by 13.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 410,040 shares of the company’s stock valued at $4,396,000 after buying an additional 50,000 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Kona Grill by 5.6% in the second quarter. Vanguard Group Inc. now owns 318,414 shares of the company’s stock valued at $3,413,000 after buying an additional 16,822 shares during the last quarter. Finally, Penn Capital Management Co. Inc. purchased a new stake in shares of Kona Grill during the second quarter valued at approximately $3,081,000. 80.89% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Kona Grill Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kona Grill Inc. and related companies with MarketBeat.com's FREE daily email newsletter.