First Watch Restaurant Group (NASDAQ:FWRG) Reaches New 52-Week Low – What’s Next?

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $11.56 and last traded at $11.6450, with a volume of 676845 shares. The stock had previously closed at $12.44.

Wall Street Analyst Weigh In

FWRG has been the subject of a number of research reports. DA Davidson initiated coverage on First Watch Restaurant Group in a report on Friday, March 6th. They issued a “buy” rating and a $17.00 price objective for the company. Stephens cut their price objective 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. Guggenheim lowered their target price on shares of First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. TD Cowen cut their price target on First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. Finally, Zacks Research raised First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

First Watch Restaurant Group Stock Performance

The company has a market capitalization of $730.93 million, a PE ratio of 38.61, a price-to-earnings-growth ratio of 2.52 and a beta of 0.92. The business’s fifty day moving average is $15.34 and its two-hundred day moving average is $16.43. 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 (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.08 by $0.16. The company 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 3.20% and a net margin of 1.59%.First Watch Restaurant Group’s revenue was up 20.2% compared to the same quarter last year. During the same period last year, the firm posted $0.01 earnings per share. Equities research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Insider Buying and Selling at First Watch Restaurant Group

In other news, Director William A. Kussell sold 6,165 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 26,402 shares in the company, valued at $448,834. This trade represents a 18.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 6.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FWRG. Jones Financial Companies Lllp purchased a new stake in shares of First Watch Restaurant Group during the 3rd quarter valued at about $30,000. First Horizon Advisors Inc. grew its position in 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 valued at $31,000 after buying an additional 1,316 shares during the period. State of Wyoming purchased a new stake in First Watch Restaurant Group during the fourth quarter valued at approximately $64,000. Kemnay Advisory Services Inc. purchased a new stake in First Watch Restaurant Group during the fourth quarter valued at approximately $66,000. Finally, BNP Paribas Financial Markets raised its position 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 worth $70,000 after acquiring an additional 1,673 shares during the period. 96.11% of the stock is owned by hedge funds and other institutional investors.

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.