Weiss Ratings Reaffirms “Sell (D+)” Rating for First Watch Restaurant Group (NASDAQ:FWRG)

First Watch Restaurant Group (NASDAQ:FWRG)‘s stock had its “sell (d+)” rating restated by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other research firms have also commented on FWRG. Raymond James Financial raised their target price on First Watch Restaurant Group from $21.00 to $22.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 17th. Wall Street Zen raised First Watch Restaurant Group from a “sell” rating to a “hold” rating in a report on Friday, September 26th. TD Cowen raised their price objective on First Watch Restaurant Group from $19.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, July 29th. Stephens raised their price objective on First Watch Restaurant Group from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Finally, Barclays raised their price objective on First Watch Restaurant Group from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.09.

First Watch Restaurant Group Stock Down 2.6%

Shares of FWRG stock opened at $15.50 on Wednesday. The stock’s 50-day simple moving average is $17.30 and its 200-day simple moving average is $17.06. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.23 and a current ratio of 0.27. The firm has a market capitalization of $945.87 million, a PE ratio of 258.38, a P/E/G ratio of 5.52 and a beta of 0.87. First Watch Restaurant Group has a fifty-two week low of $12.90 and a fifty-two week high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). The firm had revenue of $307.89 million during the quarter, compared to analyst estimates of $304.94 million. First Watch Restaurant Group had a net margin of 0.37% and a return on equity of 0.69%. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.14 earnings per share. First Watch Restaurant Group has set its FY 2025 guidance at EPS. Equities analysts expect that First Watch Restaurant Group will post 0.32 earnings per share for the current year.

Insider Buying and Selling at First Watch Restaurant Group

In other news, major shareholder International L.P. Advent sold 5,000,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $17.70, for a total value of $88,500,000.00. Following the transaction, the insider owned 9,689,784 shares in the company, valued at $171,509,176.80. This trade represents a 34.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Watch Restaurant Group

Institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its position in First Watch Restaurant Group by 8,815.8% during the second quarter. Fifth Third Bancorp now owns 1,694 shares of the company’s stock worth $27,000 after buying an additional 1,675 shares in the last quarter. First Horizon Advisors Inc. raised its position 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 valued at $31,000 after purchasing an additional 1,316 shares during the period. BNP Paribas Financial Markets raised its position 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 purchasing an additional 1,673 shares during the period. GAMMA Investing LLC raised its position in First Watch Restaurant Group by 1,617.7% in the first quarter. GAMMA Investing LLC now owns 5,445 shares of the company’s stock valued at $91,000 after purchasing an additional 5,128 shares during the period. Finally, State of Wyoming raised its position in First Watch Restaurant Group by 83.0% in the first quarter. State of Wyoming now owns 5,882 shares of the company’s stock valued at $98,000 after purchasing an additional 2,668 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.