First Watch Restaurant Group (NASDAQ:FWRG) PT Lowered to $27.00 at Barclays

First Watch Restaurant Group (NASDAQ:FWRG) had its price target reduced by stock analysts at Barclays from $29.00 to $27.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 24.88% from the company’s previous close.

A number of other brokerages have also issued reports on FWRG. Stifel Nicolaus lifted their price target on shares of 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. Raymond James boosted their target price on shares of First Watch Restaurant Group from $23.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 25th. Citigroup increased their price target on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, March 6th. Finally, TD Cowen reissued a “hold” rating and issued a $26.00 price objective on shares of First Watch Restaurant Group in a report on Wednesday, April 10th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, First Watch Restaurant Group has a consensus rating of “Moderate Buy” and a consensus price target of $25.67.

First Watch Restaurant Group Stock Up 0.5 %

FWRG stock traded up $0.11 during trading on Wednesday, reaching $21.62. The stock had a trading volume of 669,157 shares, compared to its average volume of 508,946. 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 firm has a fifty day moving average price of $23.93 and a 200 day moving average price of $21.26. The company has a market capitalization of $1.31 billion, a P/E ratio of 52.76, a PEG ratio of 2.35 and a beta of 1.07. First Watch Restaurant Group has a 1-year low of $15.67 and a 1-year high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The business had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $245.03 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The company’s revenue was up 14.7% compared to the same quarter last year. On average, equities analysts anticipate 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 First Watch Restaurant Group news, Director William A. Kussell sold 8,386 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $22.10, for a total value of $185,330.60. Following the completion of the transaction, the director now owns 12,409 shares in the company, valued at approximately $274,238.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director William A. Kussell sold 8,386 shares of the 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 completion of the transaction, the director now owns 12,409 shares of the company’s stock, valued at $274,238.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric Richard Hartman sold 1,474 shares of First Watch Restaurant Group stock in a transaction dated 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 in the company, valued at $1,286,967.51. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,085,127 shares of company stock worth $170,038,222. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its position in First Watch Restaurant Group by 44.0% in the first quarter. Russell Investments Group Ltd. now owns 26,030 shares of the company’s stock worth $641,000 after purchasing an additional 7,952 shares during the period. Sei Investments Co. raised its stake in shares of First Watch Restaurant Group by 6.5% in the 1st quarter. Sei Investments Co. now owns 29,162 shares of the company’s stock worth $718,000 after buying an additional 1,783 shares in the last quarter. 12 West Capital Management LP lifted its holdings in shares of First Watch Restaurant Group by 19.7% in the first quarter. 12 West Capital Management LP now owns 640,486 shares of the company’s stock valued at $15,769,000 after buying an additional 105,486 shares during the period. Primoris Wealth Advisors LLC bought a new position in First Watch Restaurant Group during the first quarter valued at about $1,788,000. Finally, Swiss National Bank boosted its stake in First Watch Restaurant Group by 22.3% during the first quarter. Swiss National Bank now owns 64,600 shares of the company’s stock valued at $1,590,000 after buying an additional 11,800 shares in the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

About First Watch Restaurant Group

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.