First Watch Restaurant Group (NASDAQ:FWRG) Earns Hold Rating from TD Cowen

TD Cowen reaffirmed their hold rating on shares of First Watch Restaurant Group (NASDAQ:FWRG) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $26.00 target price on the stock.

A number of other equities analysts have also recently issued reports on the stock. Barclays upped their price target on shares of 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. Raymond James upped their price target on shares of 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 price target on shares of 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. Finally, Stifel Nicolaus upped their target price on shares of First Watch Restaurant Group from $20.00 to $22.00 and gave the company a hold rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $26.00.

First Watch Restaurant Group Stock Down 2.9 %

NASDAQ:FWRG opened at $22.57 on Wednesday. The firm’s 50-day moving average price is $23.98 and its 200-day moving average price is $20.46. The company has a market capitalization of $1.36 billion, a PE ratio of 55.05, a P/E/G ratio of 2.16 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.62 and a quick ratio of 0.57. First Watch Restaurant Group has a 1-year low of $14.34 and a 1-year high of $25.88.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $237.20 million. First Watch Restaurant Group had a net margin of 2.85% and a return on equity of 4.62%. First Watch Restaurant Group’s revenue was up 31.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) EPS. On average, equities analysts predict that First Watch Restaurant Group will post 0.46 EPS for the current fiscal year.

Insider Buying and Selling at First Watch Restaurant Group

In other First Watch Restaurant Group news, insider Eric Richard Hartman sold 1,474 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $25.03, for a total transaction of $36,894.22. Following the transaction, the insider now owns 51,417 shares in the company, valued at approximately $1,286,967.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Eric Richard Hartman sold 1,474 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $25.03, for a total value of $36,894.22. Following the transaction, the insider now owns 51,417 shares in the company, valued at approximately $1,286,967.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William A. Kussell sold 15,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $20.53, for a total transaction of $307,950.00. Following the completion of the transaction, the director now owns 20,795 shares in the company, valued at approximately $426,921.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,091,741 shares of company stock worth $170,160,841. Company insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On First Watch Restaurant Group

Several institutional investors have recently made changes to their positions in the business. Captrust Financial Advisors increased its holdings in First Watch Restaurant Group by 170.4% in the 2nd quarter. Captrust Financial Advisors now owns 2,028 shares of the company’s stock worth $29,000 after acquiring an additional 1,278 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in First Watch Restaurant Group in the 3rd quarter worth approximately $35,000. Lazard Asset Management LLC increased its holdings in First Watch Restaurant Group by 117.8% in the 3rd quarter. Lazard Asset Management LLC now owns 2,047 shares of the company’s stock worth $35,000 after acquiring an additional 1,107 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in First Watch Restaurant Group by 3,232.8% in 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 in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in First Watch Restaurant Group by 355.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,274 shares of the company’s stock worth $32,000 after acquiring an additional 1,775 shares in the last quarter. 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.