First Watch Restaurant Group (NASDAQ:FWRG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of First Watch Restaurant Group (NASDAQ:FWRG) from a sell rating to a hold rating in a research report sent to investors on Saturday.

A number of other analysts have also recently weighed in on the company. Bank of America lowered their price target on First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Benchmark upped their target price on shares of First Watch Restaurant Group from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Raymond James Financial lifted their price target on shares of First Watch Restaurant Group from $21.00 to $22.00 and gave the company a “strong-buy” rating in a report on Thursday, July 17th. Barclays boosted their price target on shares of First Watch Restaurant Group from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, July 17th. Finally, Stephens raised their price objective on shares of First Watch Restaurant Group from $23.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, First Watch Restaurant Group currently has an average rating of “Moderate Buy” and a consensus target price of $21.09.

First Watch Restaurant Group Stock Performance

NASDAQ:FWRG opened at $17.68 on Friday. First Watch Restaurant Group has a 12-month low of $12.90 and a 12-month high of $22.71. The company has a quick ratio of 0.21, a current ratio of 0.25 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1.08 billion, a PE ratio of 221.03, a price-to-earnings-growth ratio of 9.97 and a beta of 0.87. The firm has a 50-day moving average price of $16.99 and a 200 day moving average price of $16.97.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). First Watch Restaurant Group had a net margin of 0.42% and a return on equity of 0.83%. The company had revenue of $316.02 million for the quarter, compared to analyst estimates of $308.31 million. First Watch Restaurant Group has set its FY 2025 guidance at EPS. Research analysts anticipate that First Watch Restaurant Group will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Watch Restaurant Group news, major shareholder International L.P. Advent sold 4,400,000 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $17.67, for a total value of $77,748,000.00. Following the completion of the transaction, the insider directly owned 5,289,784 shares of the company’s stock, valued at approximately $93,470,483.28. The trade was a 45.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.00% of the company’s stock.

Institutional Trading of First Watch Restaurant Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its holdings in First Watch Restaurant Group by 4.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,943 shares of the company’s stock worth $282,000 after buying an additional 708 shares in the last quarter. Legal & General Group Plc raised its position in shares of First Watch Restaurant Group by 1.6% during the second quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock worth $730,000 after acquiring an additional 724 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of First Watch Restaurant Group by 207.6% during the second quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock worth $31,000 after acquiring an additional 1,316 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of First Watch Restaurant Group by 17.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,108 shares of the company’s stock valued at $146,000 after acquiring an additional 1,341 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in First Watch Restaurant Group by 61.9% in the second quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock valued at $70,000 after acquiring an additional 1,673 shares during the last quarter. Institutional investors and hedge funds 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.