First Watch Restaurant Group (NASDAQ:FWRG) Stock Rating Upgraded by Wall Street Zen

First Watch Restaurant Group (NASDAQ:FWRG) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday.

FWRG has been the topic of a number of other research reports. Weiss Ratings reissued a “sell (d+)” rating on shares of First Watch Restaurant Group in a research note on Wednesday, October 8th. Bank of America reduced their price objective on First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Raymond James Financial raised their price objective on First Watch Restaurant Group from $21.00 to $22.00 and gave the company a “strong-buy” rating in a report on Thursday, July 17th. Stephens boosted their target price on First Watch Restaurant Group from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. Finally, TD Cowen upped their target price on First Watch Restaurant Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.09.

First Watch Restaurant Group Price Performance

FWRG stock opened at $17.19 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.25 and a quick ratio of 0.23. First Watch Restaurant Group has a one year low of $12.90 and a one year high of $22.71. The stock has a market cap of $1.05 billion, a PE ratio of 214.90, a P/E/G ratio of 10.00 and a beta of 0.88. The firm has a 50 day simple moving average of $17.01 and a two-hundred day simple moving average of $17.02.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). The company had revenue of $316.02 million for the quarter, compared to analysts’ expectations of $308.31 million. First Watch Restaurant Group had a net margin of 0.42% and a return on equity of 0.83%. First Watch Restaurant Group has set its FY 2025 guidance at EPS. On average, analysts predict that First Watch Restaurant Group will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Watch Restaurant Group news, major shareholder International L.P. Advent sold 4,400,000 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $17.67, for a total value of $77,748,000.00. Following the transaction, the insider owned 5,289,784 shares in the company, valued at approximately $93,470,483.28. The trade was a 45.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.00% of the stock is owned by insiders.

Institutional Trading of First Watch Restaurant Group

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. raised its position in First Watch Restaurant Group by 4.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,943 shares of the company’s stock valued at $282,000 after purchasing an additional 708 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of First Watch Restaurant Group by 1.6% during the second quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock valued at $730,000 after acquiring an additional 724 shares in the last quarter. First Horizon Advisors Inc. lifted its stake 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 during the period. Police & Firemen s Retirement System of New Jersey lifted its stake in 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 worth $146,000 after acquiring an additional 1,341 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in First Watch Restaurant Group by 61.9% in the second quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock valued at $70,000 after acquiring an additional 1,673 shares in the last quarter. 96.11% of the stock is owned by institutional investors.

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.