First Watch Restaurant Group (NASDAQ:FWRG) Price Target Cut to $27.00 by Analysts at Barclays

First Watch Restaurant Group (NASDAQ:FWRG) had its price target reduced by investment analysts at Barclays from $29.00 to $27.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would indicate a potential upside of 26.58% from the stock’s current price.

A number of other brokerages also recently issued reports on FWRG. Citigroup upped their price objective 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. Raymond James increased their target price on shares of First Watch Restaurant Group from $23.00 to $25.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 25th. Stifel Nicolaus increased their target price on shares of First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Wednesday, March 6th. Finally, TD Cowen reissued a “hold” rating and set a $26.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday, April 10th. 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

First Watch Restaurant Group Trading Down 2.4 %

Shares of FWRG stock opened at $21.33 on Wednesday. First Watch Restaurant Group has a 52-week low of $15.67 and a 52-week high of $25.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 0.62. The company has a 50-day simple moving average of $23.79 and a two-hundred day simple moving average of $21.27. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of 52.03, a PEG ratio of 2.35 and a beta of 1.07.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. First Watch Restaurant Group had a net margin of 2.85% and a return on equity of 4.62%. The business had revenue of $242.40 million during the quarter, compared to the consensus estimate of $245.03 million. During the same period in the prior year, the firm posted $0.15 EPS. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. Research analysts anticipate that First Watch Restaurant Group will post 0.45 EPS for the current fiscal year.

Insider Activity at First Watch Restaurant Group

In other First Watch Restaurant Group news, CEO Christopher Anthony Tomasso sold 121,995 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $24.45, for a total value of $2,982,777.75. Following the sale, the chief executive officer now directly owns 431,871 shares in the company, valued at approximately $10,559,245.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director William A. Kussell sold 8,386 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $22.10, for a total transaction of $185,330.60. Following the sale, the director now owns 12,409 shares in the company, valued at approximately $274,238.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher Anthony Tomasso sold 121,995 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $24.45, for a total transaction of $2,982,777.75. Following the sale, the chief executive officer now owns 431,871 shares in the company, valued at approximately $10,559,245.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,085,127 shares of company stock worth $170,038,222. 5.00% of the stock is owned by corporate insiders.

Institutional Trading of First Watch Restaurant Group

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