First Watch Restaurant Group (NASDAQ:FWRG) Price Target Cut to $18.00 by Analysts at TD Cowen

First Watch Restaurant Group (NASDAQ:FWRG) had its target price decreased by TD Cowen from $21.00 to $18.00 in a research report released on Tuesday morning,Benzinga reports. TD Cowen currently has a buy rating on the stock.

A number of other equities analysts have also issued reports on FWRG. Weiss Ratings reissued a “hold (c-)” rating on shares of First Watch Restaurant Group in a research report on Monday, December 29th. Barclays decreased their price target on First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, January 7th. Zacks Research raised shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Wall Street Zen upgraded First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.55.

First Watch Restaurant Group Trading Down 20.5%

First Watch Restaurant Group stock opened at $12.32 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.21 and a current ratio of 0.25. The stock has a market cap of $751.89 million, a PE ratio of 154.02, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. The stock has a 50-day moving average of $16.06 and a two-hundred day moving average of $16.82. First Watch Restaurant Group has a one year low of $12.17 and a one year high of $21.99.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.16. The firm had revenue of $316.35 million for the quarter, compared to the consensus estimate of $317.49 million. First Watch Restaurant Group had a net margin of 0.42% and a return on equity of 0.83%. The company’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 earnings per share. On average, research analysts anticipate 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, Director William A. Kussell sold 6,165 shares of the company’s stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $17.00, for a total value of $104,805.00. Following the completion of the sale, the director directly owned 26,402 shares in the company, valued at $448,834. This represents a 18.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp acquired a new stake in shares of First Watch Restaurant Group during the 3rd quarter worth about $30,000. First Horizon Advisors Inc. lifted its holdings in shares of First Watch Restaurant Group by 207.6% in the 2nd 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 last quarter. State of Wyoming purchased a new stake in First Watch Restaurant Group in the fourth quarter valued at approximately $64,000. Kemnay Advisory Services Inc. purchased a new position in shares of First Watch Restaurant Group during the fourth quarter worth $66,000. Finally, BNP Paribas Financial Markets lifted its stake in First Watch Restaurant Group by 61.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock worth $70,000 after acquiring an additional 1,673 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors and hedge funds.

First Watch Restaurant Group News Summary

Here are the key news stories impacting First Watch Restaurant Group this week:

• Positive Sentiment: Q4 beat on EPS and strong year-over-year revenue growth — First Watch reported $0.24 EPS vs. a $0.08 consensus and revenue grew ~20.2% year-over-year, signaling demand resilience. Zacks: Tops Q4 Earnings
• Positive Sentiment: Management set a 2026 revenue growth target of 12%–14% and highlighted investments in digital marketing and menu innovation to drive comp growth and new unit sales. These are growth initiatives that could drive top-line acceleration if execution is effective. MSN: 12–14% Target
• Neutral Sentiment: FY2026 revenue guidance was reiterated/anchored around ~$1.4B (in line with consensus), which removes upside surprise risk but also limits immediate positive catalysts. GlobeNewswire: 2026 Outlook
• Negative Sentiment: Revenue slightly missed the street (~$316.4M vs. ~$317.5M expected) and investors focused on margin pressure from planned marketing/menu investments, prompting profit-growth concerns despite the EPS beat. Yahoo Finance: Earnings Transcript
• Negative Sentiment: Leadership and sentiment shocks: CFO Mel Hope announced retirement, and an analyst (TD Cowen) lowered its price target (from $21 to $18) — both items can increase uncertainty and selling pressure. GlobeNewswire: CFO Retirement Benzinga: TD Cowen PT Cut
• Negative Sentiment: Heavy intraday volume and media coverage of the miss/mixed outlook amplified selling; technicals (trading below the 50- and 200-day averages and near the 1-year low) likely accelerated declines. MSN: Why Shares Are Plunging

First Watch Restaurant Group Company Profile

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.