Guggenheim Lowers First Watch Restaurant Group (NASDAQ:FWRG) Price Target to $21.00

First Watch Restaurant Group (NASDAQ:FWRG) had its target price lowered by investment analysts at Guggenheim from $23.00 to $21.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Guggenheim’s price objective would suggest a potential upside of 69.83% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Stephens dropped their price objective on shares of First Watch Restaurant Group from $24.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday. Piper Sandler reissued an “overweight” rating and issued a $19.00 price target on shares of First Watch Restaurant Group in a report on Tuesday. Weiss Ratings restated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. TD Cowen cut their target price on First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Barclays reduced their price target on shares of First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.18.

First Watch Restaurant Group Stock Performance

Shares of FWRG traded up $0.05 during mid-day trading on Wednesday, hitting $12.37. The stock had a trading volume of 821,171 shares, compared to its average volume of 1,567,313. First Watch Restaurant Group has a fifty-two week low of $12.17 and a fifty-two week high of $21.99. The company has a quick ratio of 0.21, a current ratio of 0.25 and a debt-to-equity ratio of 0.41. The company has a market cap of $754.64 million, a PE ratio of 155.89, a PEG ratio of 2.82 and a beta of 0.88. The company’s fifty day simple moving average is $16.06 and its two-hundred day simple moving average is $16.82.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.16. First Watch Restaurant Group had a return on equity of 0.83% and a net margin of 0.42%.The firm had revenue of $316.35 million for the quarter, compared to analysts’ expectations of $317.49 million. During the same period last year, the business posted $0.01 earnings per share. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, equities analysts expect that First Watch Restaurant Group will post 0.32 earnings per share for the current year.

Insider Activity

In other news, Director William A. Kussell sold 6,165 shares of the stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $17.00, for a total value of $104,805.00. Following the completion of the transaction, the director directly owned 26,402 shares in the company, valued at $448,834. This trade represents a 18.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Watch Restaurant Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth $30,000. First Horizon Advisors Inc. raised its position in First Watch Restaurant Group by 207.6% in the second quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock worth $31,000 after acquiring an additional 1,316 shares in the last quarter. State of Wyoming bought a new stake in First Watch Restaurant Group in the fourth quarter worth about $64,000. Kemnay Advisory Services Inc. acquired a new stake in First Watch Restaurant Group in the 4th quarter valued at about $66,000. Finally, BNP Paribas Financial Markets boosted its position in shares of First Watch Restaurant Group by 61.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock valued at $70,000 after purchasing an additional 1,673 shares in the last quarter. 96.11% of the stock is owned by institutional investors.

Key First Watch Restaurant Group News

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

About First Watch Restaurant Group

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.