First Watch Restaurant Group (NASDAQ:FWRG) Price Target Cut to $25.00

First Watch Restaurant Group (NASDAQ:FWRG) had its price objective lowered by TD Cowen from $26.00 to $25.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 17.21% from the company’s current price.

A number of other research analysts have also weighed in on FWRG. Barclays dropped their target price on First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday. Raymond James raised their price objective on First Watch Restaurant Group from $23.00 to $25.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 25th. Stifel Nicolaus upped their target price on shares of First Watch Restaurant Group from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Finally, Citigroup raised their price target on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

First Watch Restaurant Group Stock Down 2.4 %

Shares of NASDAQ:FWRG opened at $21.33 on Wednesday. The firm has a market cap of $1.29 billion, a P/E ratio of 52.03, a PEG ratio of 2.35 and a beta of 1.07. First Watch Restaurant Group has a 52-week low of $15.67 and a 52-week high of $25.98. The business’s 50 day simple moving average is $23.79 and its two-hundred day simple moving average is $21.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 0.62.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. First Watch Restaurant Group had a net margin of 2.85% and a return on equity of 4.62%. The business had revenue of $242.40 million during the quarter, compared to analyst estimates of $245.03 million. During the same quarter in the previous year, the business posted $0.15 EPS. First Watch Restaurant Group’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, research analysts forecast that First Watch Restaurant Group will post 0.45 EPS for the current fiscal year.

Insider Activity at First Watch Restaurant Group

In other news, insider Eric Richard Hartman sold 1,474 shares of First Watch Restaurant Group stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $25.03, for a total value of $36,894.22. Following the completion of the transaction, the insider now owns 51,417 shares in the company, valued at $1,286,967.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director William A. Kussell sold 8,386 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $22.10, for a total transaction of $185,330.60. Following the sale, the director now owns 12,409 shares of the company’s stock, valued at approximately $274,238.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Richard Hartman sold 1,474 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $25.03, for a total transaction of $36,894.22. Following the completion of the transaction, the insider now directly owns 51,417 shares of the company’s stock, valued at $1,286,967.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,085,127 shares of company stock worth $170,038,222. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On First Watch Restaurant Group

Several large investors have recently added to or reduced their stakes in the business. Quantbot Technologies LP boosted its position in shares of First Watch Restaurant Group by 6.1% during the 3rd quarter. Quantbot Technologies LP now owns 10,972 shares of the company’s stock valued at $190,000 after acquiring an additional 633 shares during the last quarter. Sei Investments Co. increased its holdings in shares of First Watch Restaurant Group by 6.5% in the 1st quarter. Sei Investments Co. now owns 29,162 shares of the company’s stock worth $718,000 after buying an additional 1,783 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in shares of First Watch Restaurant Group during the 3rd quarter valued at $35,000. PNC Financial Services Group Inc. lifted its holdings in shares of First Watch Restaurant Group by 3,232.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,233 shares of the company’s stock worth $39,000 after acquiring an additional 2,166 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in First Watch Restaurant Group in the first quarter worth $65,000. Institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc, through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc and changed its name to First Watch Restaurant Group, Inc in December 2019. First Watch Restaurant Group, Inc was founded in 1983 and is based in Bradenton, Florida.