TD Cowen Lowers First Watch Restaurant Group (NASDAQ:FWRG) Price Target to $25.00

First Watch Restaurant Group (NASDAQ:FWRG) had its target price lowered by stock analysts at TD Cowen from $26.00 to $25.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 14.42% from the stock’s previous close.

Several other research firms have also commented on FWRG. Raymond James increased their price target on shares of First Watch Restaurant Group from $23.00 to $25.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 25th. Stifel Nicolaus upped their price objective on shares of First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Citigroup upped 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 report on Wednesday, March 6th. Finally, Barclays cut 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. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $25.50.

First Watch Restaurant Group Trading Up 1.6 %

Shares of FWRG traded up $0.34 during trading hours on Wednesday, reaching $21.85. 1,067,271 shares of the company traded hands, compared to its average volume of 513,539. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 53.29, a PEG ratio of 2.35 and a beta of 1.07. First Watch Restaurant Group has a 12-month low of $15.67 and a 12-month high of $25.98. The company has a current ratio of 0.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.21. The stock’s fifty day moving average price is $23.93 and its 200 day moving average price is $21.26.

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, topping analysts’ consensus estimates of $0.10 by $0.02. First Watch Restaurant Group had a net margin of 2.85% and a return on equity of 4.62%. The company had revenue of $242.40 million during the quarter, compared to analyst estimates of $245.03 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. Sell-side analysts forecast that First Watch Restaurant Group will post 0.45 earnings per share for the current year.

Insider Transactions at First Watch Restaurant Group

In other news, insider Eric Richard Hartman sold 1,474 shares of the firm’s stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $25.03, for a total transaction of $36,894.22. Following the sale, the insider now owns 51,417 shares of the company’s stock, valued at approximately $1,286,967.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Watch Restaurant Group news, Director William A. Kussell sold 8,386 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $22.10, for a total value of $185,330.60. Following the transaction, the director now owns 12,409 shares in the company, valued at approximately $274,238.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Richard Hartman sold 1,474 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $25.03, for a total value of $36,894.22. Following the completion of the transaction, the insider now owns 51,417 shares in the company, valued at approximately $1,286,967.51. The disclosure for this sale can be found here. Insiders have sold 7,085,127 shares of company stock valued at $170,038,222 in the last 90 days. 5.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale acquired a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth $35,000. PNC Financial Services Group Inc. increased its stake in shares of First Watch Restaurant Group by 3,232.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,233 shares of the company’s stock worth $39,000 after acquiring an additional 2,166 shares during the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of First Watch Restaurant Group in the 1st quarter worth $65,000. iA Global Asset Management Inc. acquired a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth $95,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth $119,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.

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.