First Watch Restaurant Group (NASDAQ:FWRG) Stock Rating Upgraded by Zacks Research

First Watch Restaurant Group (NASDAQ:FWRG) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

A number of other analysts have also issued reports on FWRG. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. Barclays lowered their price target on shares of First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Finally, Wall Street Zen raised shares of First Watch Restaurant Group from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.91.

First Watch Restaurant Group Trading Down 3.0%

Shares of FWRG stock opened at $16.58 on Tuesday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 207.28, a PEG ratio of 3.12 and a beta of 0.88. The company’s fifty day simple moving average is $16.34 and its two-hundred day simple moving average is $16.96. First Watch Restaurant Group has a 1 year low of $12.90 and a 1 year high of $22.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.25 and a quick ratio of 0.21.

Insider Buying and Selling at First Watch Restaurant Group

In other news, Director William A. Kussell sold 6,165 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $17.00, for a total transaction of $104,805.00. Following the sale, the director owned 26,402 shares in the company, valued at approximately $448,834. This trade represents a 18.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Hodges Capital Management Inc. boosted its holdings in shares of First Watch Restaurant Group by 385.1% in the 4th quarter. Hodges Capital Management Inc. now owns 693,341 shares of the company’s stock worth $10,456,000 after purchasing an additional 550,407 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of First Watch Restaurant Group by 23.6% in the 4th quarter. Deutsche Bank AG now owns 45,108 shares of the company’s stock worth $680,000 after acquiring an additional 8,622 shares during the last quarter. First Dallas Securities Inc. purchased a new stake in shares of First Watch Restaurant Group in the 4th quarter valued at $588,000. GW&K Investment Management LLC grew its holdings in shares of First Watch Restaurant Group by 18.1% during the 4th quarter. GW&K Investment Management LLC now owns 2,032,631 shares of the company’s stock valued at $30,653,000 after purchasing an additional 311,938 shares during the last quarter. Finally, Cerity Partners LLC purchased a new position in First Watch Restaurant Group in the 4th quarter worth $691,000. Institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.