Guggenheim Issues Pessimistic Forecast for First Watch Restaurant Group (NASDAQ:FWRG) Stock Price

First Watch Restaurant Group (NASDAQ:FWRG) had its price objective dropped by equities researchers at Guggenheim from $23.00 to $21.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target suggests a potential upside of 69.83% from the stock’s current price.

Several other equities research analysts also recently commented on FWRG. Zacks Research upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Barclays reduced their target price on First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. TD Cowen lowered their price target on First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday. Weiss Ratings restated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research report on Monday, December 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $19.00 target price on shares of First Watch Restaurant Group in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.18.

First Watch Restaurant Group Price Performance

Shares of NASDAQ FWRG traded up $0.05 during mid-day trading on Wednesday, reaching $12.37. The company had a trading volume of 821,171 shares, compared to its average volume of 1,567,313. The company has a 50-day moving average price of $16.06 and a two-hundred day moving average price of $16.82. The stock has a market cap of $754.64 million, a PE ratio of 155.89, a P/E/G ratio of 2.82 and a beta of 0.88. The company has a current ratio of 0.25, a quick ratio of 0.21 and a debt-to-equity ratio of 0.41. First Watch Restaurant Group has a 1-year low of $12.17 and a 1-year high of $21.99.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.16. The firm had revenue of $316.35 million for the quarter, compared to analysts’ expectations of $317.49 million. First Watch Restaurant Group had a return on equity of 0.83% and a net margin of 0.42%.First Watch Restaurant Group’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS. On average, equities analysts anticipate that First Watch Restaurant Group will post 0.32 earnings per share for the current year.

Insider Activity

In related news, Director William A. Kussell sold 6,165 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $17.00, for a total value of $104,805.00. Following the completion of the sale, the director owned 26,402 shares of the company’s stock, valued at approximately $448,834. The trade was a 18.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.00% of the stock is currently owned by corporate insiders.

Institutional Trading of First Watch Restaurant Group

Several large investors have recently added to or reduced their stakes in FWRG. Woodline Partners LP acquired a new stake in shares of First Watch Restaurant Group in the third quarter worth about $20,318,000. Loomis Sayles & Co. L P bought a new position in shares of First Watch Restaurant Group in the 2nd quarter valued at approximately $18,350,000. The Manufacturers Life Insurance Company lifted its holdings in First Watch Restaurant Group by 51.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,335,883 shares of the company’s stock worth $37,468,000 after purchasing an additional 796,191 shares during the last quarter. Balyasny Asset Management L.P. boosted its position in First Watch Restaurant Group by 2,796.3% during the third quarter. Balyasny Asset Management L.P. now owns 813,051 shares of the company’s stock worth $12,716,000 after purchasing an additional 784,979 shares during the period. Finally, Fred Alger Management LLC grew its holdings in First Watch Restaurant Group by 183.9% during the fourth quarter. Fred Alger Management LLC now owns 1,036,560 shares of the company’s stock valued at $15,631,000 after purchasing an additional 671,455 shares during the last quarter. 96.11% of the stock is owned by institutional investors.

Key First Watch Restaurant Group News

Here are the key news stories impacting First Watch Restaurant Group this week:

• Positive Sentiment: Q4 EPS beat — FWRG reported $0.24 EPS vs. $0.08 consensus, showing operating leverage versus last year and giving credibility to the turnaround story. Zacks: Tops Q4 Estimates
• Positive Sentiment: 2026 revenue growth target and guidance — Management is targeting ~12%–14% revenue growth and guiding to about $1.4B in revenue while investing in digital marketing and menu innovation, signaling a clear growth plan. MSN: Growth Target & Initiatives
• Positive Sentiment: Analysts remain constructive despite cuts — Stephens cut its PT to $21 (still “overweight”) and TD Cowen cut to $18 (still “buy”), leaving meaningful upside per their models. Benzinga: Analyst Price Target Changes
• Neutral Sentiment: Revenue roughly in line — Q4 revenue was $316.35M vs. $317.49M expected (up 20% YoY), a mixed result that tempers the EPS beat. Yahoo Finance: Sales In Line
• Neutral Sentiment: Earnings call & disclosures — Management provided details in the earnings transcript and slide deck; investors will parse margins, unit economics and cadence of digital initiatives. Seeking Alpha: Call Transcript
• Negative Sentiment: CFO retirement — CFO Mel Hope announced a planned retirement later this year; leadership transition creates short?term execution and disclosure risk until a successor is named. GlobeNewswire: CFO Retirement
• Negative Sentiment: Market reaction — Several headlines note shares “plunging” after the print; the combination of a revenue miss (albeit small), low reported margins/ROE and analyst PT trims likely prompted short?term selling. MSN: Why Shares Are Plunging

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.