First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director William A. Kussell Sells 8,386 Shares

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director William A. Kussell sold 8,386 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $22.10, for a total value of $185,330.60. Following the sale, the director now owns 12,409 shares of the company’s stock, valued at approximately $274,238.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

First Watch Restaurant Group Price Performance

NASDAQ FWRG traded up $0.47 on Tuesday, reaching $22.75. The company’s stock had a trading volume of 299,358 shares, compared to its average volume of 466,726. First Watch Restaurant Group, Inc. has a 52 week low of $14.74 and a 52 week high of $25.88. The company has a current ratio of 0.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.37 billion, a PE ratio of 54.64, a price-to-earnings-growth ratio of 2.07 and a beta of 1.12. The business has a 50-day moving average price of $23.95 and a 200 day moving average price of $20.71.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.04 earnings per share for the quarter, meeting the consensus estimate of $0.04. The company had revenue of $244.60 million for the quarter, compared to analyst estimates of $237.20 million. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The company’s revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) EPS. Sell-side analysts expect that First Watch Restaurant Group, Inc. will post 0.46 EPS for the current year.

Institutional Trading of First Watch Restaurant Group

A number of large investors have recently bought and sold shares of the stock. Wesbanco Bank Inc. acquired a new stake in shares of First Watch Restaurant Group in the 1st quarter valued at $1,199,000. Raymond James & Associates lifted its holdings in First Watch Restaurant Group by 123.9% during the 1st quarter. Raymond James & Associates now owns 275,162 shares of the company’s stock valued at $6,774,000 after purchasing an additional 152,245 shares during the last quarter. Deepwater Asset Management LLC boosted its position in First Watch Restaurant Group by 275.3% in the first quarter. Deepwater Asset Management LLC now owns 412,884 shares of the company’s stock valued at $10,165,000 after buying an additional 302,878 shares in the last quarter. LVW Advisors LLC bought a new stake in First Watch Restaurant Group during the first quarter worth about $227,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of First Watch Restaurant Group during the first quarter worth approximately $65,000. 96.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on FWRG. Citigroup increased their price objective on First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Raymond James increased 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 report on Thursday, January 25th. Stifel Nicolaus boosted their price objective on shares of First Watch Restaurant Group from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. Barclays upped their price objective on shares of First Watch Restaurant Group from $23.00 to $29.00 and gave the company an “overweight” 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 investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, First Watch Restaurant Group presently has an average rating of “Moderate Buy” and an average price target of $26.00.

About First Watch Restaurant Group

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.