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 report published on Sunday.

Other equities research analysts also recently issued research reports about the stock. Raymond James Financial boosted their target price 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. Weiss Ratings reissued a “sell (d+)” rating on shares of First Watch Restaurant Group in a research report on Wednesday, October 8th. Zacks Research downgraded shares of First Watch Restaurant Group from a “hold” rating to a “strong sell” rating in a research report on Monday, October 6th. TD Cowen boosted their target price on shares of First Watch Restaurant Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Finally, Stephens boosted their target price on shares of First Watch Restaurant Group from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $21.09.

First Watch Restaurant Group Stock Performance

First Watch Restaurant Group stock opened at $17.92 on Friday. First Watch Restaurant Group has a 12-month low of $12.90 and a 12-month high of $22.71. The company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 298.72, a price-to-earnings-growth ratio of 5.87 and a beta of 0.87. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.27 and a quick ratio of 0.23. The firm’s fifty day moving average price is $17.20 and its 200 day moving average price is $17.03.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). First Watch Restaurant Group had a return on equity of 0.69% and a net margin of 0.37%.The firm had revenue of $307.89 million for the quarter, compared to analysts’ expectations of $304.94 million. During the same period last year, the firm earned $0.14 EPS. The business’s quarterly revenue was up 19.1% on a year-over-year basis. First Watch Restaurant Group has set its FY 2025 guidance at EPS. On average, research analysts forecast that First Watch Restaurant Group will post 0.32 EPS for the current fiscal year.

Insider Activity at First Watch Restaurant Group

In other news, major shareholder International L.P. Advent sold 5,000,000 shares of First Watch Restaurant Group stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $17.70, for a total value of $88,500,000.00. Following the completion of the transaction, the insider directly owned 9,689,784 shares of the company’s stock, valued at approximately $171,509,176.80. The trade was a 34.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. acquired a new position in First Watch Restaurant Group during the 1st quarter valued at about $259,000. Nuveen LLC acquired a new position in First Watch Restaurant Group during the 1st quarter valued at about $1,085,000. Bank of New York Mellon Corp boosted its stake in First Watch Restaurant Group by 203.6% during the 1st quarter. Bank of New York Mellon Corp now owns 238,661 shares of the company’s stock valued at $3,974,000 after purchasing an additional 160,040 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in First Watch Restaurant Group by 85.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,807 shares of the company’s stock valued at $163,000 after purchasing an additional 4,512 shares during the period. Finally, Stephens Investment Management Group LLC boosted its stake in First Watch Restaurant Group by 2.2% during the 1st quarter. Stephens Investment Management Group LLC now owns 708,663 shares of the company’s stock valued at $11,799,000 after purchasing an additional 15,304 shares during the period. 96.11% of the stock is owned by institutional investors and hedge funds.

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.