Insider Selling: First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director Sells 8,386 Shares of Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) 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 transaction 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

First Watch Restaurant Group Stock Performance

Shares of NASDAQ:FWRG opened at $22.75 on Wednesday. The company’s 50 day moving average price is $23.94 and its two-hundred day moving average price is $20.75. First Watch Restaurant Group, Inc. has a 12-month low of $14.74 and a 12-month high of $25.88. The firm has a market cap of $1.37 billion, a PE ratio of 55.49, a PEG ratio of 2.07 and a beta of 1.12. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 0.21.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. First Watch Restaurant Group had a net margin of 2.85% and a return on equity of 4.62%. The firm had revenue of $244.60 million for the quarter, compared to analyst estimates of $237.20 million. During the same quarter in the prior year, the business posted ($0.01) EPS. The business’s revenue was up 31.7% compared to the same quarter last year. Equities research analysts predict that First Watch Restaurant Group, Inc. will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Citigroup upped their price target on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. TD Cowen reiterated a “hold” rating and issued a $26.00 price target on shares of First Watch Restaurant Group in a research note on Wednesday, April 10th. Raymond James upped their price target on shares of First Watch Restaurant Group from $23.00 to $25.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 25th. Barclays upped their price target on shares of First Watch Restaurant Group from $23.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. Finally, Stifel Nicolaus upped their price target on shares of First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Two research 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 company. Based on data from MarketBeat, First Watch Restaurant Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale acquired a new stake in shares of First Watch Restaurant Group during the 3rd quarter worth approximately $35,000. PNC Financial Services Group Inc. boosted its position in shares of First Watch Restaurant Group by 3,232.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,233 shares of the company’s stock worth $39,000 after acquiring an additional 2,166 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of First Watch Restaurant Group during the 1st quarter worth approximately $65,000. iA Global Asset Management Inc. acquired a new stake in shares of First Watch Restaurant Group during the 3rd quarter worth approximately $95,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of First Watch Restaurant Group during the 3rd quarter worth approximately $119,000. Institutional investors and hedge funds 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.