First Watch Restaurant Group (NASDAQ:FWRG) Reaches New 12-Month Low on Analyst Downgrade

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) shares reached a new 52-week low during mid-day trading on Tuesday after Stifel Nicolaus lowered their price target on the stock from $22.00 to $18.00. Stifel Nicolaus currently has a hold rating on the stock. First Watch Restaurant Group traded as low as $16.17 and last traded at $16.26, with a volume of 94689 shares trading hands. The stock had previously closed at $16.95.

FWRG has been the topic of several other reports. Barclays dropped their target price on First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Citigroup boosted their price objective on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, TD Cowen lowered their target price on First Watch Restaurant Group from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Thursday, June 13th. 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 stock. According to data from MarketBeat, First Watch Restaurant Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.17.

Insider Buying and Selling

In other First Watch Restaurant Group news, Director William A. Kussell sold 8,386 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $22.10, for a total transaction of $185,330.60. Following the completion of the sale, the director now directly owns 12,409 shares of the company’s stock, valued at approximately $274,238.90. The sale was disclosed in a legal filing with the SEC, which is available at this link. 5.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Sunbelt Securities Inc. bought a new position in shares of First Watch Restaurant Group during the 1st quarter valued at approximately $65,000. iA Global Asset Management Inc. bought a new position in shares of First Watch Restaurant Group during the third quarter valued at approximately $95,000. Quent Capital LLC purchased a new stake in shares of First Watch Restaurant Group in the first quarter worth approximately $172,000. AXQ Capital LP bought a new stake in shares of First Watch Restaurant Group during the 3rd quarter worth approximately $183,000. Finally, Accent Capital Management LLC purchased a new position in First Watch Restaurant Group during the 4th quarter valued at $211,000. Institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Stock Performance

The firm has a market cap of $979.81 million, a PE ratio of 42.71, a price-to-earnings-growth ratio of 2.25 and a beta of 0.88. The business has a 50 day simple moving average of $19.96 and a two-hundred day simple moving average of $21.54. The company has a quick ratio of 0.55, a current ratio of 0.60 and a debt-to-equity ratio of 0.21.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $245.03 million. First Watch Restaurant Group had a net margin of 2.52% and a return on equity of 4.15%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.15 EPS. As a group, equities research analysts forecast that First Watch Restaurant Group, Inc. will post 0.39 earnings per share for the current fiscal year.

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.