Barclays Has Lowered Expectations for First Watch Restaurant Group (NASDAQ:FWRG) Stock Price

First Watch Restaurant Group (NASDAQ:FWRG) had its target price cut by research analysts at Barclays from $19.00 to $17.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 36.99% from the company’s previous close.

FWRG has been the subject of a number of other research reports. Wall Street Zen upgraded First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Guggenheim cut their price target on First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research report on Monday, December 29th. TD Cowen reduced their price target on shares of First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Zacks Research upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, First Watch Restaurant Group has a consensus rating of “Moderate Buy” and an average target price of $20.00.

First Watch Restaurant Group Price Performance

Shares of First Watch Restaurant Group stock traded up $0.09 on Wednesday, hitting $12.41. 976,183 shares of the company traded hands, compared to its average volume of 1,571,265. First Watch Restaurant Group has a 52 week low of $12.17 and a 52 week high of $21.99. The business has a 50-day simple moving average of $16.06 and a 200 day simple moving average of $16.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.21 and a current ratio of 0.25. The stock has a market capitalization of $757.38 million, a P/E ratio of 155.14, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results on Tuesday, February 24th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.16. The firm had revenue of $316.35 million during the quarter, compared to analyst estimates of $317.49 million. First Watch Restaurant Group had a net margin of 0.42% and a return on equity of 0.83%. First Watch Restaurant Group’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. Research analysts expect that First Watch Restaurant Group will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Watch Restaurant Group news, Director William A. Kussell sold 6,165 shares of the business’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 directly owned 26,402 shares of the company’s stock, valued at $448,834. The trade was a 18.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On First Watch Restaurant Group

Institutional investors have recently made changes to their positions in the business. Legal & General Group Plc grew its holdings in First Watch Restaurant Group by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock valued at $730,000 after buying an additional 724 shares during the last quarter. California State Teachers Retirement System raised its stake in First Watch Restaurant Group by 1.8% during the 4th quarter. California State Teachers Retirement System now owns 46,092 shares of the company’s stock valued at $695,000 after purchasing an additional 832 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in First Watch Restaurant Group by 4.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 23,016 shares of the company’s stock valued at $360,000 after purchasing an additional 934 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of First Watch Restaurant Group by 207.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock worth $31,000 after purchasing an additional 1,316 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in shares of First Watch Restaurant Group by 17.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,108 shares of the company’s stock valued at $146,000 after buying an additional 1,341 shares during the period. 96.11% of the stock is currently owned by institutional investors.

Trending Headlines about First Watch Restaurant Group

Here are the key news stories impacting First Watch Restaurant Group this week:

• Positive Sentiment: Q4 EPS beat — FWRG reported $0.24 EPS vs. $0.08 consensus, showing operating leverage versus last year and giving credibility to the turnaround story. Zacks: Tops Q4 Estimates
• Positive Sentiment: 2026 revenue growth target and guidance — Management is targeting ~12%–14% revenue growth and guiding to about $1.4B in revenue while investing in digital marketing and menu innovation, signaling a clear growth plan. MSN: Growth Target & Initiatives
• Positive Sentiment: Analysts remain constructive despite cuts — Stephens cut its PT to $21 (still “overweight”) and TD Cowen cut to $18 (still “buy”), leaving meaningful upside per their models. Benzinga: Analyst Price Target Changes
• Neutral Sentiment: Revenue roughly in line — Q4 revenue was $316.35M vs. $317.49M expected (up 20% YoY), a mixed result that tempers the EPS beat. Yahoo Finance: Sales In Line
• Neutral Sentiment: Earnings call & disclosures — Management provided details in the earnings transcript and slide deck; investors will parse margins, unit economics and cadence of digital initiatives. Seeking Alpha: Call Transcript
• Negative Sentiment: CFO retirement — CFO Mel Hope announced a planned retirement later this year; leadership transition creates short‑term execution and disclosure risk until a successor is named. GlobeNewswire: CFO Retirement
• Negative Sentiment: Market reaction — Several headlines note shares “plunging” after the print; the combination of a revenue miss (albeit small), low reported margins/ROE and analyst PT trims likely prompted short‑term selling. MSN: Why Shares Are Plunging

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.