First Watch Restaurant Group (NASDAQ:FWRG) Price Target Lowered to $19.00 at TD Securities

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) had its price target lowered by analysts at TD Securities from $22.00 to $19.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Securities' target price would suggest a potential upside of 20.48% from the stock's current price.

Several other analysts also recently issued reports on the company. Sanford C. Bernstein set a $21.00 price objective on First Watch Restaurant Group in a report on Tuesday, March 11th. Barclays dropped their target price on shares of First Watch Restaurant Group from $24.00 to $20.00 and set an "overweight" rating on the stock in a research report on Tuesday. Bank of America upped their price target on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Benchmark reiterated a "buy" rating on shares of First Watch Restaurant Group in a research report on Wednesday, March 12th. Finally, Stephens restated an "overweight" rating and issued a $24.00 target price on shares of First Watch Restaurant Group in a report on Thursday, April 24th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $21.36.

First Watch Restaurant Group Price Performance

Shares of FWRG traded down $0.22 during mid-day trading on Wednesday, hitting $15.77. The company's stock had a trading volume of 1,021,409 shares, compared to its average volume of 715,403. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. The firm has a 50-day moving average price of $17.61 and a 200 day moving average price of $18.73. First Watch Restaurant Group has a fifty-two week low of $12.90 and a fifty-two week high of $22.71. The stock has a market capitalization of $961.48 million, a price-to-earnings ratio of 47.79, a PEG ratio of 3.38 and a beta of 1.01.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.05). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The business had revenue of $282.24 million during the quarter, compared to analyst estimates of $282.98 million. During the same quarter last year, the firm posted $0.12 EPS. The company's quarterly revenue was up 16.4% compared to the same quarter last year. On average, research analysts predict that First Watch Restaurant Group will post 0.32 EPS for the current fiscal year.

Insider Activity at First Watch Restaurant Group

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

Institutional Trading of First Watch Restaurant Group

Institutional investors and hedge funds have recently modified their holdings of the company. Assetmark Inc. lifted its position in First Watch Restaurant Group by 68.7% during the 4th quarter. Assetmark Inc. now owns 2,455 shares of the company's stock worth $46,000 after acquiring an additional 1,000 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in First Watch Restaurant Group during the 4th quarter valued at approximately $51,000. State of Wyoming grew its holdings in First Watch Restaurant Group by 212.6% in the 4th quarter. State of Wyoming now owns 3,214 shares of the company's stock valued at $60,000 after buying an additional 2,186 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in First Watch Restaurant Group in the 4th quarter valued at approximately $81,000. Finally, BNP Paribas Financial Markets bought a new position in First Watch Restaurant Group in the 4th quarter worth approximately $86,000. 96.11% of the stock is currently owned by institutional investors and hedge funds.

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.