First Watch Restaurant Group, Inc. (NASDAQ:FWRG – Get Free Report) was the target of some unusual options trading activity on Monday. Stock investors purchased 6,994 call options on the company. This represents an increase of approximately 1,482% compared to the average volume of 442 call options.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FWRG. Schwartz Investment Counsel Inc. boosted its position in shares of First Watch Restaurant Group by 47.7% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 18,875 shares of the company’s stock valued at $192,000 after acquiring an additional 6,100 shares during the last quarter. Access Investment Management LLC increased its stake in First Watch Restaurant Group by 2.3% during the third quarter. Access Investment Management LLC now owns 217,609 shares of the company’s stock worth $2,213,000 after purchasing an additional 4,890 shares during the period. Wavvest Wealth LLC purchased a new stake in shares of First Watch Restaurant Group during the third quarter worth $412,000. State of Alaska Department of Revenue acquired a new stake in First Watch Restaurant Group in the 3rd quarter valued at about $32,000. Finally, Engineers Gate Manager LP raised its holdings in First Watch Restaurant Group by 16.1% in the second quarter. Engineers Gate Manager LP now owns 29,200 shares of the company’s stock valued at $376,000 after acquiring an additional 4,050 shares in the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.
Wall Street Analyst Weigh In
FWRG has been the subject of a number of research analyst reports. Citigroup decreased their price target on shares of First Watch Restaurant Group from $20.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, October 21st. Raymond James Financial reduced their target price on First Watch Restaurant Group from $20.00 to $18.00 and set a “strong-buy” rating for the company in a research note on Friday, October 16th. DA Davidson lowered their price target on First Watch Restaurant Group from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. Guggenheim dropped their price objective on shares of First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Finally, Stephens dropped their target price on First Watch Restaurant Group from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, October 15th. Two research analysts have 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, First Watch Restaurant Group presently has a consensus rating of “Buy” and a consensus target price of $17.90.
Read Our Latest Stock Report on FWRG
First Watch Restaurant Group Price Performance
Shares of NASDAQ FWRG traded up $0.65 during trading on Tuesday, hitting $13.60. The company had a trading volume of 202,904 shares, compared to its average volume of 1,467,917. The firm has a market capitalization of $839.28 million, a price-to-earnings ratio of 46.67, a price-to-earnings-growth ratio of 52.17 and a beta of 1.05. The stock has a fifty day simple moving average of $11.37 and a two-hundred day simple moving average of $12.45. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.44. First Watch Restaurant Group has a fifty-two week low of $9.88 and a fifty-two week high of $18.77.
First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. First Watch Restaurant Group had a net margin of 1.35% and a return on equity of 2.85%. The firm had revenue of $349.86 million during the quarter, compared to the consensus estimate of $348.99 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts expect that First Watch Restaurant Group will post 0.14 earnings per share for the current year.
First Watch Restaurant Group Company Profile
First Watch Restaurant Group, Inc operates a daytime-focused restaurant concept serving breakfast, brunch and lunch. Its restaurants offer made-to-order meals such as omelets, pancakes, French toast, sandwiches, salads and bowls, along with fresh juices, coffee and other beverages. The company generally does not serve dinner, positioning its restaurants around the daytime dining occasion.
First Watch restaurants emphasize fresh preparation and seasonal menu offerings, including items made with eggs, fruits, vegetables and other ingredients prepared in the restaurant.
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