Insider Selling: First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director Sells $185,330.60 in Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director William A. Kussell sold 8,386 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $22.10, for a total value of $185,330.60. Following the completion of the sale, the director now owns 12,409 shares in the company, valued at approximately $274,238.90. The transaction was disclosed in a filing with the SEC, which is available at this link.

First Watch Restaurant Group Stock Up 2.7 %

NASDAQ FWRG opened at $23.63 on Friday. The business has a fifty day moving average price of $23.91 and a 200 day moving average price of $20.79. First Watch Restaurant Group, Inc. has a one year low of $14.81 and a one year high of $25.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 0.62. The company has a market cap of $1.43 billion, a P/E ratio of 57.64, a P/E/G ratio of 2.13 and a beta of 1.11.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The firm had revenue of $244.60 million during the quarter, compared to the consensus estimate of $237.20 million. During the same period in the prior year, the company earned ($0.01) EPS. The firm’s revenue was up 31.7% compared to the same quarter last year. Research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Stifel Nicolaus upped their price objective on First Watch Restaurant Group from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Raymond James upped their target price on First Watch Restaurant Group from $23.00 to $25.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 25th. Citigroup upped their target price on First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. TD Cowen reaffirmed a “hold” rating and set a $26.00 target price on shares of First Watch Restaurant Group in a research note on Wednesday, April 10th. Finally, Barclays upped their target price on First Watch Restaurant Group from $23.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.00.

Institutional Trading of First Watch Restaurant Group

A number of hedge funds and other institutional investors have recently modified their holdings of FWRG. DekaBank Deutsche Girozentrale acquired a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth $35,000. PNC Financial Services Group Inc. grew 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 purchasing an additional 2,166 shares during the period. Sunbelt Securities Inc. purchased a new position in shares of First Watch Restaurant Group during the 1st quarter worth $65,000. iA Global Asset Management Inc. purchased a new position in shares of First Watch Restaurant Group during the 3rd quarter worth $95,000. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of First Watch Restaurant Group during the 3rd quarter worth $119,000. 96.11% of the stock is owned by institutional investors and hedge funds.

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.