First Watch Restaurant Group (NASDAQ:FWRG) Trading Down 5.6%

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) traded down 5.6% during trading on Monday . The company traded as low as $16.58 and last traded at $16.58. 290,659 shares changed hands during mid-day trading, a decline of 48% from the average session volume of 562,458 shares. The stock had previously closed at $17.56.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays decreased their target price on First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Citigroup boosted their price target on First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. TD Cowen reduced their target price on First Watch Restaurant Group from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Thursday, June 13th. Finally, Stifel Nicolaus upped their target price on First Watch Restaurant Group from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.83.

First Watch Restaurant Group Trading Down 5.1 %

The business has a fifty day moving average price of $20.20 and a two-hundred day moving average price of $21.58. The company has a current ratio of 0.60, a quick ratio of 0.55 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.01 billion, a PE ratio of 43.58, a PEG ratio of 2.25 and a beta of 0.88.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. First Watch Restaurant Group had a return on equity of 4.15% and a net margin of 2.52%. The firm had revenue of $242.40 million for the quarter, compared to the consensus estimate of $245.03 million. During the same quarter last year, the business posted $0.15 EPS. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. Analysts expect that First Watch Restaurant Group, Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director William A. Kussell sold 8,386 shares of First Watch Restaurant Group stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $22.10, for a total transaction of $185,330.60. Following the completion of the transaction, the director now directly owns 12,409 shares of the company’s stock, valued at $274,238.90. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 5.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Watch Restaurant Group

A number of hedge funds and other institutional investors have recently made changes to their positions in FWRG. iA Global Asset Management Inc. grew its position in First Watch Restaurant Group by 24.0% during the first quarter. iA Global Asset Management Inc. now owns 17,950 shares of the company’s stock valued at $442,000 after acquiring an additional 3,480 shares during the period. California State Teachers Retirement System lifted its stake in shares of First Watch Restaurant Group by 15.6% in the first quarter. California State Teachers Retirement System now owns 31,822 shares of the company’s stock worth $783,000 after acquiring an additional 4,294 shares in the last quarter. Vancity Investment Management Ltd lifted its stake in shares of First Watch Restaurant Group by 60.8% in the first quarter. Vancity Investment Management Ltd now owns 35,064 shares of the company’s stock worth $863,000 after acquiring an additional 13,256 shares in the last quarter. Janus Henderson Group PLC acquired a new position in shares of First Watch Restaurant Group in the first quarter worth about $226,000. Finally, Bayesian Capital Management LP lifted its stake in shares of First Watch Restaurant Group by 17.6% in the first quarter. Bayesian Capital Management LP now owns 19,369 shares of the company’s stock worth $477,000 after acquiring an additional 2,900 shares in the last quarter. 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.