First Watch Restaurant Group (NASDAQ:FWRG) Releases Quarterly Earnings Results, Misses Estimates By $0.05 EPS

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.05), Zacks reports. The firm had revenue of $282.24 million for the quarter, compared to analysts' expectations of $282.98 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. First Watch Restaurant Group's revenue was up 16.4% on a year-over-year basis. During the same period last year, the firm posted $0.12 EPS. First Watch Restaurant Group updated its FY 2025 guidance to EPS.

First Watch Restaurant Group Stock Down 2.3 %

Shares of FWRG stock traded down $0.36 during trading hours on Friday, hitting $15.63. 83,778 shares of the company were exchanged, compared to its average volume of 711,603. The stock has a market capitalization of $952.95 million, a price-to-earnings ratio of 47.37, a P/E/G ratio of 3.38 and a beta of 1.01. First Watch Restaurant Group has a one year low of $12.90 and a one year high of $22.71. The business's 50-day simple moving average is $17.69 and its two-hundred day simple moving average is $18.73. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.54.

Insider Activity at First Watch Restaurant Group

In other First Watch Restaurant Group news, insider Jay Anthony Wolszczak sold 5,743 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $96,539.83. Following the sale, the insider now directly owns 37,768 shares of the company's stock, valued at approximately $634,880.08. This represents a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of First Watch Restaurant Group stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $706,675.59. Following the completion of the transaction, the chief executive officer now directly owns 389,832 shares of the company's stock, valued at $6,553,075.92. This trade represents a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays decreased their target price on First Watch Restaurant Group from $24.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday. Piper Sandler dropped their price objective on shares of First Watch Restaurant Group from $23.00 to $20.00 and set an "overweight" rating for the company in a research report on Wednesday. Stifel Nicolaus set a $17.00 target price on shares of First Watch Restaurant Group in a report on Wednesday. Bank of America upped their price target on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, March 12th. Finally, TD Cowen raised First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 price objective on the stock in a research report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, First Watch Restaurant Group currently has an average rating of "Buy" and a consensus price target of $21.36.

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.