First Watch Restaurant Group (NASDAQ:FWRG) Price Target Cut to $18.00 by Analysts at Stifel Nicolaus

First Watch Restaurant Group (NASDAQ:FWRG) had its price target cut by Stifel Nicolaus from $22.00 to $18.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

FWRG has been the topic of several other reports. Citigroup raised their price target on First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a buy rating in a research report on Wednesday, March 6th. Barclays lowered their price objective on shares of First Watch Restaurant Group from $29.00 to $27.00 and set an overweight rating on the stock in a report on Wednesday, May 8th. Finally, TD Cowen cut their price target on shares of First Watch Restaurant Group from $25.00 to $21.00 and set a hold rating for the company in a research note on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $24.17.

First Watch Restaurant Group Stock Performance

FWRG opened at $16.23 on Tuesday. 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 has a 12-month low of $15.90 and a 12-month high of $25.98. The stock’s 50 day moving average price is $19.96 and its two-hundred day moving average price is $21.54. The firm has a market capitalization of $979.81 million, a P/E ratio of 42.71, a price-to-earnings-growth ratio of 2.25 and a beta of 0.88.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.02. The company had revenue of $242.40 million for the quarter, compared to analyst estimates of $245.03 million. First Watch Restaurant Group had a return on equity of 4.15% and a net margin of 2.52%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 EPS. On average, equities analysts forecast that First Watch Restaurant Group will post 0.39 earnings per share for the current year.

Insider Activity at First Watch Restaurant Group

In related news, Director William A. Kussell sold 8,386 shares of the stock in a transaction 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 transaction, the director now directly owns 12,409 shares of the company’s stock, valued at $274,238.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Sunbelt Securities Inc. bought a new stake in shares of First Watch Restaurant Group during the first quarter worth about $65,000. iA Global Asset Management Inc. bought a new stake in First Watch Restaurant Group during the 3rd quarter worth approximately $95,000. Quent Capital LLC bought a new stake in First Watch Restaurant Group during the 1st quarter worth approximately $172,000. Janus Henderson Group PLC purchased a new stake in shares of First Watch Restaurant Group in the first quarter worth approximately $226,000. Finally, LVW Advisors LLC bought a new position in shares of First Watch Restaurant Group in the first quarter valued at approximately $227,000. Institutional investors and hedge funds own 96.11% 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.