First Watch Restaurant Group (NASDAQ:FWRG) Cut to Sell at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of First Watch Restaurant Group (NASDAQ:FWRG – Free Report) from a hold rating to a sell rating in a report released on Friday.

Other analysts also recently issued research reports about the company. TD Cowen raised their price target on First Watch Restaurant Group from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Tuesday, July 29th. Barclays raised their price target on First Watch Restaurant Group from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, July 17th. Guggenheim cut their target price on First Watch Restaurant Group from $23.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Raymond James Financial lifted their target price on First Watch Restaurant Group from $21.00 to $22.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 17th. Finally, Bank of America cut their target price on First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $21.09.

Read Our Latest Research Report on FWRG

First Watch Restaurant Group Price Performance

Shares of NASDAQ FWRG opened at $18.59 on Friday. First Watch Restaurant Group has a fifty-two week low of $12.90 and a fifty-two week high of $22.71. The business has a 50 day moving average price of $17.72 and a two-hundred day moving average price of $17.39. The company has a quick ratio of 0.23, a current ratio of 0.27 and a debt-to-equity ratio of 0.42. The firm has a market cap of $1.13 billion, a PE ratio of 309.88, a price-to-earnings-growth ratio of 6.61 and a beta of 0.92.

First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04). The firm had revenue of $307.89 million during the quarter, compared to analyst estimates of $304.94 million. First Watch Restaurant Group had a return on equity of 0.69% and a net margin of 0.37%.First Watch Restaurant Group’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 EPS. First Watch Restaurant Group has set its FY 2025 guidance at EPS. Sell-side analysts expect that First Watch Restaurant Group will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder International L.P. Advent sold 5,000,000 shares of First Watch Restaurant Group stock in a transaction on Friday, August 8th. The stock was sold at an average price of $17.70, for a total value of $88,500,000.00. Following the transaction, the insider directly owned 9,689,784 shares in the company, valued at $171,509,176.80. The trade was a 34.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Fifth Third Bancorp grew its holdings in shares of First Watch Restaurant Group by 8,815.8% during the second quarter. Fifth Third Bancorp now owns 1,694 shares of the company’s stock valued at $27,000 after buying an additional 1,675 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of First Watch Restaurant Group by 207.6% during the second quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock valued at $31,000 after buying an additional 1,316 shares in the last quarter. State of Wyoming grew its holdings in shares of First Watch Restaurant Group by 212.6% during the fourth quarter. State of Wyoming now owns 3,214 shares of the company’s stock valued at $60,000 after buying an additional 2,186 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of First Watch Restaurant Group by 61.9% during the second quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock valued at $70,000 after buying an additional 1,673 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of First Watch Restaurant Group by 1,617.7% during the first quarter. GAMMA Investing LLC now owns 5,445 shares of the company’s stock valued at $91,000 after buying an additional 5,128 shares in the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

About First Watch Restaurant Group

(Get Free Report)

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.

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