First Watch Restaurant Group's (FWRG) "Hold" Rating Reiterated at TD Cowen

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report)'s stock had its "hold" rating reiterated by TD Cowen in a report released on Wednesday, Benzinga reports. They currently have a $26.00 price objective on the stock. TD Cowen's price objective would indicate a potential upside of 13.04% from the company's previous close.

FWRG has been the topic of a number of other reports. Citigroup boosted their target price on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a "buy" rating in a research report on Wednesday, March 6th. Stifel Nicolaus upped their price objective on shares of First Watch Restaurant Group from $20.00 to $22.00 and gave the company a "hold" rating in a research report on Wednesday, March 6th. Barclays lifted their target price on First Watch Restaurant Group from $23.00 to $29.00 and gave the stock an "overweight" rating in a research report on Wednesday, March 6th. Finally, Raymond James raised their price objective on 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 research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.00.

First Watch Restaurant Group Stock Down 0.6 %

NASDAQ:FWRG traded down $0.15 during mid-day trading on Wednesday, hitting $23.00. The company had a trading volume of 437,001 shares, compared to its average volume of 477,101. The business has a fifty day simple moving average of $23.91 and a 200-day simple moving average of $20.38. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 56.00, a PEG ratio of 2.15 and a beta of 1.11. First Watch Restaurant Group has a 1 year low of $14.34 and a 1 year high of $25.88. The company has a current ratio of 0.62, a quick ratio of 0.57 and a debt-to-equity ratio of 0.21.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its earnings results on Tuesday, March 5th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $244.60 million for the quarter, compared to the consensus estimate of $237.20 million. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The company's revenue was up 31.7% on a year-over-year basis. During the same period last year, the business posted ($0.01) EPS. Equities analysts forecast that First Watch Restaurant Group will post 0.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Watch Restaurant Group news, insider Matthew Eisenacher sold 3,770 shares of the company's stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $24.28, for a total transaction of $91,535.60. Following the sale, the insider now owns 30,906 shares in the company, valued at $750,397.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Eric Richard Hartman sold 1,474 shares of First Watch Restaurant Group stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.03, for a total transaction of $36,894.22. Following the completion of the sale, the insider now owns 51,417 shares of the company's stock, valued at $1,286,967.51. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Matthew Eisenacher sold 3,770 shares of the company's stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $24.28, for a total value of $91,535.60. Following the sale, the insider now owns 30,906 shares of the company's stock, valued at approximately $750,397.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,091,741 shares of company stock worth $170,160,841. Corporate insiders own 4.50% of the company's stock.

Institutional Trading of First Watch Restaurant Group

A number of hedge funds have recently bought and sold shares of the stock. Invesco Ltd. acquired a new stake in First Watch Restaurant Group during the third quarter valued at approximately $8,940,000. Swiss National Bank raised its position in shares of First Watch Restaurant Group by 53.1% during the 3rd quarter. Swiss National Bank now owns 58,800 shares of the company's stock valued at $1,017,000 after acquiring an additional 20,400 shares during the last quarter. 12 West Capital Management LP acquired a new stake in shares of First Watch Restaurant Group in the 3rd quarter valued at approximately $3,717,000. New York State Common Retirement Fund grew its holdings in shares of First Watch Restaurant Group by 201.4% in the 3rd quarter. New York State Common Retirement Fund now owns 75,718 shares of the company's stock valued at $1,309,000 after buying an additional 50,599 shares during the period. Finally, Barclays PLC grew its position in shares of First Watch Restaurant Group by 48.5% in the 3rd quarter. Barclays PLC now owns 32,264 shares of the company's stock valued at $557,000 after purchasing an additional 10,534 shares during the period. 96.11% of the stock is owned by institutional investors.

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.