First Watch Restaurant Group (NASDAQ:FWRG) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

First Watch Restaurant Group (NASDAQ:FWRG) issued its quarterly earnings results on Tuesday. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05), Zacks reports. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. First Watch Restaurant Group’s revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the business posted $0.12 EPS. First Watch Restaurant Group updated its FY 2025 guidance to EPS.

First Watch Restaurant Group Stock Down 30.3 %

First Watch Restaurant Group stock traded down $5.65 during trading on Tuesday, hitting $12.97. 1,001,629 shares of the company were exchanged, compared to its average volume of 698,546. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The business’s 50 day moving average is $17.98 and its 200 day moving average is $18.79. First Watch Restaurant Group has a 52 week low of $12.90 and a 52 week high of $24.39. The company has a market capitalization of $790.46 million, a P/E ratio of 39.24, a PEG ratio of 3.38 and a beta of 1.01.

Analyst Ratings Changes

FWRG has been the subject of several analyst reports. Barclays raised their price target on shares of First Watch Restaurant Group from $21.00 to $24.00 and gave the stock an “overweight” rating in a report on Tuesday, April 22nd. TD Securities raised First Watch Restaurant Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $21.00 to $22.00 in a research report on Tuesday, April 1st. Bank of America upped their target price on First Watch Restaurant Group from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Sanford C. Bernstein set a $21.00 price objective on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Finally, Benchmark reissued a “buy” rating on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $22.73.

Insiders Place Their Bets

In other news, CEO Christopher Anthony Tomasso sold 42,039 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $706,675.59. Following the completion of the transaction, the chief executive officer now directly owns 389,832 shares of the company’s stock, valued at $6,553,075.92. This represents a 9.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jay Anthony Wolszczak sold 5,743 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $96,539.83. Following the completion of the transaction, the insider now owns 37,768 shares in the company, valued at approximately $634,880.08. The trade was a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

About First Watch Restaurant Group

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.