Wall Street Zen Downgrades First Watch Restaurant Group (NASDAQ:FWRG) to Strong Sell

Posted by Brenda Bartman on Jul 20th, 2026

First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “strong sell” rating in a report issued on Saturday.

A number of other brokerages have also weighed in on FWRG. Stifel Nicolaus set a $14.00 price objective on shares of First Watch Restaurant Group in a report on Tuesday, May 5th. TD Cowen reaffirmed a “buy” rating and set a $17.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, June 3rd. Benchmark cut their price objective on First Watch Restaurant Group from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, April 20th. DA Davidson restated a “buy” rating and issued a $17.00 price objective on shares of First Watch Restaurant Group in a research note on Tuesday, April 28th. Finally, Weiss Ratings downgraded First Watch Restaurant Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. One research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $18.78.

Read Our Latest Research Report on FWRG

First Watch Restaurant Group Price Performance

NASDAQ:FWRG opened at $12.45 on Friday. The company has a market cap of $767.54 million, a PE ratio of 44.47, a P/E/G ratio of 6.55 and a beta of 1.03. First Watch Restaurant Group has a twelve month low of $9.97 and a twelve month high of $19.53. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $11.71 and its two-hundred day moving average is $13.09.

First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The company had revenue of $330.96 million for the quarter, compared to analyst estimates of $329.35 million. First Watch Restaurant Group had a net margin of 1.38% and a return on equity of 2.85%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. Analysts anticipate that First Watch Restaurant Group will post 0.19 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. acquired a new stake in First Watch Restaurant Group during the 4th quarter worth about $63,000. State of Wyoming purchased a new position in shares of First Watch Restaurant Group during the 4th quarter valued at about $64,000. Kemnay Advisory Services Inc. acquired a new position in shares of First Watch Restaurant Group in the 4th quarter valued at about $66,000. BNP Paribas Financial Markets lifted its holdings in shares of First Watch Restaurant Group by 61.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock valued at $70,000 after buying an additional 1,673 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of First Watch Restaurant Group by 17,042.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,657 shares of the company’s stock valued at $85,000 after buying an additional 5,624 shares during the period. 96.11% of the stock is currently owned by institutional investors and hedge funds.

About First Watch Restaurant Group

(Get Free Report)

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.