First Watch Restaurant Group (NASDAQ:FWRG) Shares Gap Down to $19.15

First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $19.15, but opened at $18.75. First Watch Restaurant Group shares last traded at $19.27, with a volume of 100,671 shares changing hands.

Analyst Ratings Changes

FWRG has been the subject of several research analyst reports. Barclays dropped their price target on First Watch Restaurant Group from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Wednesday, May 8th. TD Cowen dropped their price objective on shares of First Watch Restaurant Group from $26.00 to $25.00 and set a "hold" rating for the company in a research report on Wednesday, May 8th. Stifel Nicolaus lifted their target price on shares of First Watch Restaurant Group from $20.00 to $22.00 and gave the company a "hold" rating in a report on Wednesday, March 6th. Citigroup raised their target price on First Watch Restaurant Group from $24.00 to $32.00 and gave the company a "buy" rating in a report on Wednesday, March 6th. Finally, Raymond James lifted their price objective on shares of First Watch Restaurant Group from $23.00 to $25.00 and gave the company a "strong-buy" rating in a research note on Thursday, January 25th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $25.50.

First Watch Restaurant Group Trading Up 0.5 %

The business has a 50 day simple moving average of $23.27 and a two-hundred day simple moving average of $21.35. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 50.63, a price-to-earnings-growth ratio of 2.52 and a beta of 1.07. The company has a current ratio of 0.60, a quick ratio of 0.55 and a debt-to-equity ratio of 0.21.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.02. The business had revenue of $242.40 million during the quarter, compared to the consensus estimate of $245.03 million. First Watch Restaurant Group had a net margin of 2.52% and a return on equity of 4.15%. The business's quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 earnings per share. As a group, equities analysts anticipate that First Watch Restaurant Group, Inc. will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Christopher Anthony Tomasso sold 121,995 shares of the company's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $24.45, for a total value of $2,982,777.75. Following the sale, the chief executive officer now owns 431,871 shares in the company, valued at approximately $10,559,245.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other First Watch Restaurant Group news, CFO H Melville Hope III sold 4,502 shares of First Watch Restaurant Group stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $24.43, for a total value of $109,983.86. Following the completion of the transaction, the chief financial officer now owns 82,315 shares of the company's stock, valued at $2,010,955.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher Anthony Tomasso sold 121,995 shares of the business's stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $24.45, for a total transaction of $2,982,777.75. Following the sale, the chief executive officer now owns 431,871 shares of the company's stock, valued at approximately $10,559,245.95. The disclosure for this sale can be found here. Insiders sold a total of 7,085,127 shares of company stock valued at $170,038,222 in the last ninety days. Corporate insiders own 5.00% of the company's stock.

Institutional Trading of First Watch Restaurant Group

Several hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in First Watch Restaurant Group in the third quarter worth approximately $128,000. Bank of New York Mellon Corp boosted its holdings in shares of First Watch Restaurant Group by 37.2% in the third quarter. Bank of New York Mellon Corp now owns 79,149 shares of the company's stock worth $1,368,000 after buying an additional 21,451 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of First Watch Restaurant Group during the third quarter valued at approximately $247,000. Allspring Global Investments Holdings LLC grew its position in First Watch Restaurant Group by 18.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 771,827 shares of the company's stock worth $13,345,000 after purchasing an additional 122,775 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC acquired a new stake in First Watch Restaurant Group during the 3rd quarter valued at $871,000. Institutional investors 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.