First Watch Restaurant Group (NASDAQ:FWRG) Rating Lowered to Sell at Wall Street Zen

First Watch Restaurant Group (NASDAQ:FWRG) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

Several other research firms also recently commented on FWRG. Zacks Research downgraded shares of First Watch Restaurant Group from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Stephens boosted their price target on shares of First Watch Restaurant Group from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Barclays boosted their price target on shares of First Watch Restaurant Group from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. Benchmark boosted their price target on shares of First Watch Restaurant Group from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Finally, Raymond James Financial boosted their price target on shares of First Watch Restaurant Group from $21.00 to $22.00 and gave the stock a “strong-buy” rating in a research note on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.09.

First Watch Restaurant Group Trading Up 1.6%

Shares of NASDAQ FWRG opened at $18.29 on Monday. First Watch Restaurant Group has a twelve month low of $12.90 and a twelve month high of $22.71. The company has a current ratio of 0.27, a quick ratio of 0.23 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $17.24 and a 200-day simple moving average of $17.10. The stock has a market capitalization of $1.12 billion, a PE ratio of 304.88, a PEG ratio of 5.52 and a beta of 0.87.

First Watch Restaurant Group (NASDAQ:FWRG) last issued 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). First Watch Restaurant Group had a net margin of 0.37% and a return on equity of 0.69%. The firm had revenue of $307.89 million during the quarter, compared to analyst estimates of $304.94 million. During the same period in the previous year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. First Watch Restaurant Group has set its FY 2025 guidance at EPS. On average, equities analysts forecast that First Watch Restaurant Group will post 0.32 earnings per share for the current year.

Insider Activity at First Watch Restaurant Group

In related news, major shareholder International L.P. Advent sold 5,000,000 shares of the business’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $17.70, for a total transaction of $88,500,000.00. Following the completion of the transaction, the insider owned 9,689,784 shares in the company, valued at approximately $171,509,176.80. The trade was a 34.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On First Watch Restaurant Group

A number of institutional investors and hedge funds have recently modified their holdings of FWRG. Riverbridge Partners LLC acquired a new position in shares of First Watch Restaurant Group during the second quarter worth $20,524,000. Loomis Sayles & Co. L P acquired a new position in First Watch Restaurant Group in the second quarter valued at $18,350,000. MetLife Investment Management LLC boosted its stake in First Watch Restaurant Group by 3,919.8% in the first quarter. MetLife Investment Management LLC now owns 834,830 shares of the company’s stock valued at $13,900,000 after acquiring an additional 814,062 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in First Watch Restaurant Group by 51.7% in the second quarter. The Manufacturers Life Insurance Company now owns 2,335,883 shares of the company’s stock valued at $37,468,000 after acquiring an additional 796,191 shares in the last quarter. Finally, Emerald Advisers LLC acquired a new position in First Watch Restaurant Group in the second quarter valued at $6,173,000. 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.