Analysts Set First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Price Target at $19.75
by Amy Steele · The Cerbat GemShares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG – Get Free Report) have earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $19.75.
A number of analysts recently issued reports on FWRG shares. Guggenheim lowered their price target on shares of First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Stephens lowered their price target on shares of First Watch Restaurant Group from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. TD Cowen lowered their price target on shares of First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Zacks Research raised shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Citigroup lowered their price target on shares of First Watch Restaurant Group from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th.
Check Out Our Latest Research Report on First Watch Restaurant Group
Insider Buying and Selling at First Watch Restaurant Group
In other news, CFO H Melville Hope III sold 7,358 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $12.59, for a total value of $92,637.22. Following the completion of the sale, the chief financial officer directly owned 115,665 shares in the company, valued at $1,456,222.35. This represents a 5.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher Anthony Tomasso sold 25,062 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $12.52, for a total transaction of $313,776.24. Following the completion of the sale, the chief executive officer owned 957,315 shares of the company’s stock, valued at $11,985,583.80. This trade represents a 2.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 74,178 shares of company stock valued at $958,411. Insiders own 6.00% of the company’s stock.
Institutional Trading of First Watch Restaurant Group
Hedge funds and other institutional investors have recently made changes to their positions in the company. Legal & General Group Plc increased 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 valued at $730,000 after acquiring an additional 724 shares during the last quarter. California State Teachers Retirement System increased its position in shares of First Watch Restaurant Group by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 46,092 shares of the company’s stock valued at $695,000 after acquiring an additional 832 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of First Watch Restaurant Group by 4.2% during the third quarter. PNC Financial Services Group Inc. now owns 23,016 shares of the company’s stock valued at $360,000 after acquiring an additional 934 shares during the last quarter. Intech Investment Management LLC increased its position in shares of First Watch Restaurant Group by 11.1% during the fourth quarter. Intech Investment Management LLC now owns 16,041 shares of the company’s stock valued at $242,000 after acquiring an additional 1,606 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of First Watch Restaurant Group by 61.9% during 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 Trading Down 1.5%
Shares of First Watch Restaurant Group stock opened at $11.48 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 0.43. First Watch Restaurant Group has a 12-month low of $10.09 and a 12-month high of $20.55. The firm has a market capitalization of $707.40 million, a price-to-earnings ratio of 37.03, a PEG ratio of 2.34 and a beta of 0.98. The firm’s 50 day simple moving average is $13.25 and its two-hundred day simple moving average is $15.45.
First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.16. The business had revenue of $316.35 million for the quarter, compared to analyst estimates of $317.49 million. First Watch Restaurant Group had a net margin of 1.59% and a return on equity of 3.20%. First Watch Restaurant Group’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.01 EPS. Analysts predict that First Watch Restaurant Group will post 0.32 EPS for the current year.
First Watch Restaurant Group Company Profile
First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.
Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.