First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Analysts give First Watch a consensus "Moderate Buy" rating (13 analysts: 10 buy, 1 strong buy, 1 hold, 1 sell) with an average 12‑month target of about $19.58, though several firms (Stephens, Benchmark, TD Cowen, Barclays, Citigroup) recently trimmed their price targets.
• The company beat EPS expectations ($0.24 vs. $0.08 consensus) while revenue of $316.35M slightly missed estimates, with revenue up 20.2% year‑over‑year but thin profitability (net margin 1.59%, ROE 3.20%).
• Insiders have been net sellers (68,013 shares, ~$853k, in the last 90 days), institutional ownership is very high (~96.1%), and the stock trades around $13.09—below its 200‑day average ($15.14) and well under the 12‑month target/high (~$19.5).

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, ten have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $19.5833.

FWRG has been the subject of several research reports. Stephens reduced their price target on shares of First Watch Restaurant Group from $24.00 to $21.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. Benchmark reduced their price target on shares of First Watch Restaurant Group from $24.00 to $22.00 and set a "buy" rating for the company in a research report on Monday, April 20th. TD Cowen reduced their price target on shares of First Watch Restaurant Group from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Tuesday, February 24th. Barclays reduced their price target on shares of First Watch Restaurant Group from $19.00 to $17.00 and set an "overweight" rating for the company in a research report on Wednesday, February 25th. Finally, Citigroup reduced their price target on shares of First Watch Restaurant Group from $26.00 to $21.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th.

First Watch Restaurant Group Stock Performance

NASDAQ FWRG opened at $13.09 on Friday. The firm has a market cap of $806.61 million, a price-to-earnings ratio of 42.23, a PEG ratio of 3.81 and a beta of 1.11. The company has a fifty day moving average price of $12.19 and a 200-day moving average price of $15.14. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.25. First Watch Restaurant Group has a 1 year low of $10.09 and a 1 year high of $19.53.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.16. The company had revenue of $316.35 million during the quarter, compared to analyst estimates of $317.49 million. First Watch Restaurant Group had a net margin of 1.59% and a return on equity of 3.20%. The firm's revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. As a group, equities research analysts predict that First Watch Restaurant Group will post 0.24 EPS for the current fiscal year.

Insider Activity at First Watch Restaurant Group

In related news, insider Jay Anthony Wolszczak sold 6,998 shares of the stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $12.59, for a total transaction of $88,104.82. Following the completion of the transaction, the insider owned 232,091 shares in the company, valued at approximately $2,922,025.69. This represents a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Matthew Eisenacher sold 6,070 shares of the stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $12.59, for a total transaction of $76,421.30. Following the transaction, the insider owned 69,983 shares of the company's stock, valued at $881,085.97. This represents a 7.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 68,013 shares of company stock valued at $853,606 in the last 90 days. 6.10% of the stock is currently owned by company insiders.

Institutional Trading of First Watch Restaurant Group

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of First Watch Restaurant Group by 15.0% during the 4th quarter. Vanguard Group Inc. now owns 3,320,929 shares of the company's stock valued at $50,080,000 after buying an additional 432,634 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of First Watch Restaurant Group by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,576,182 shares of the company's stock valued at $38,849,000 after buying an additional 133,402 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of First Watch Restaurant Group by 51.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,335,883 shares of the company's stock valued at $37,468,000 after buying an additional 796,191 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of First Watch Restaurant Group by 13.4% during the 2nd quarter. Lazard Asset Management LLC now owns 2,281,137 shares of the company's stock valued at $36,589,000 after buying an additional 269,726 shares in the last quarter. Finally, Riverbridge Partners LLC lifted its stake in shares of First Watch Restaurant Group by 90.8% during the 1st quarter. Riverbridge Partners LLC now owns 2,091,700 shares of the company's stock valued at $21,921,000 after buying an additional 995,671 shares in the last quarter. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.