First Watch Restaurant Group (NASDAQ:FWRG) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of First Watch Restaurant Group (NASDAQ:FWRG) from a sell rating to a hold rating in a research report report published on Saturday.

A number of other equities analysts have also recently issued reports on FWRG. Raymond James Financial upped their price objective on shares of First Watch Restaurant Group from $21.00 to $22.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 17th. TD Cowen upped their price target on shares of First Watch Restaurant Group from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Bank of America lowered their target price on First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating for the company in a report on Friday, July 18th. Barclays lifted their price target on First Watch Restaurant Group from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. Finally, Zacks Research raised First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, First Watch Restaurant Group currently has an average rating of “Moderate Buy” and a consensus target price of $21.09.

First Watch Restaurant Group Stock Performance

FWRG stock traded down $0.05 during trading hours on Friday, reaching $17.19. The stock had a trading volume of 1,070,100 shares, compared to its average volume of 1,284,754. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.25 and a quick ratio of 0.23. The stock has a 50-day simple moving average of $17.01 and a 200 day simple moving average of $17.00. The stock has a market capitalization of $1.05 billion, a PE ratio of 214.90, a price-to-earnings-growth ratio of 9.97 and a beta of 0.88. First Watch Restaurant Group has a fifty-two week low of $12.90 and a fifty-two week high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). The company had revenue of $316.02 million during the quarter, compared to the consensus estimate of $308.31 million. First Watch Restaurant Group had a net margin of 0.42% and a return on equity of 0.83%. First Watch Restaurant Group has set its FY 2025 guidance at EPS. Analysts predict that First Watch Restaurant Group will post 0.32 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder International L.P. Advent sold 4,400,000 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $17.67, for a total transaction of $77,748,000.00. Following the completion of the sale, the insider owned 5,289,784 shares in the company, valued at approximately $93,470,483.28. This represents a 45.41% decrease in their ownership of the stock. 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 insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Fifth Third Bancorp grew its position in First Watch Restaurant Group by 8,815.8% in the 2nd quarter. Fifth Third Bancorp now owns 1,694 shares of the company’s stock worth $27,000 after purchasing an additional 1,675 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of First Watch Restaurant Group in the 3rd quarter worth approximately $30,000. First Horizon Advisors Inc. boosted its stake in shares of First Watch Restaurant Group by 207.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock worth $31,000 after buying an additional 1,316 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of 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 valued at $70,000 after acquiring an additional 1,673 shares in the last quarter. Finally, State of Wyoming increased its position in shares of First Watch Restaurant Group by 83.0% during the first quarter. State of Wyoming now owns 5,882 shares of the company’s stock valued at $98,000 after acquiring an additional 2,668 shares during the last quarter. 96.11% of the stock is owned by institutional investors.

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.