First Watch Restaurant Group (NASDAQ:FWRG) Sees Strong Trading Volume

First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 342,299 shares were traded during trading, a decline of 26% from the previous session's volume of 460,792 shares.The stock last traded at $24.54 and had previously closed at $25.40.

Analyst Ratings Changes

A number of research analysts have weighed in on FWRG shares. Raymond James lifted their price target on shares of First Watch Restaurant Group from $23.00 to $25.00 and gave the company a "strong-buy" rating in a research report on Thursday, January 25th. Stifel Nicolaus increased their price target on 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 boosted their price objective on First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a "buy" rating in a research note on Wednesday, March 6th. Barclays increased their target price on First Watch Restaurant Group from $23.00 to $29.00 and gave the company an "overweight" rating in a research note on Wednesday, March 6th. Finally, TD Cowen boosted their price target on First Watch Restaurant Group from $21.00 to $26.00 and gave the stock a "market perform" rating in a research report on Tuesday, March 5th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, First Watch Restaurant Group currently has a consensus rating of "Moderate Buy" and an average target price of $26.00.

First Watch Restaurant Group Stock Performance

The company has a 50 day moving average of $23.68 and a 200 day moving average of $20.19. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 0.21. The firm has a market cap of $1.40 billion, a price-to-earnings ratio of 57.51, a PEG ratio of 2.29 and a beta of 1.12.

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

Insider Buying and Selling at First Watch Restaurant Group

In other news, insider Eric Richard Hartman sold 1,474 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $25.03, for a total value of $36,894.22. Following the sale, the insider now owns 51,417 shares in the company, valued at approximately $1,286,967.51. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Matthew Eisenacher sold 45,000 shares of the firm's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $24.46, for a total transaction of $1,100,700.00. Following the transaction, the insider now directly owns 36,276 shares in the company, valued at $887,310.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the insider now directly owns 51,417 shares of the company's stock, valued at approximately $1,286,967.51. The disclosure for this sale can be found here. Insiders have sold 7,091,741 shares of company stock worth $170,160,841 in the last ninety days. 4.50% of the stock is owned by insiders.

Institutional Trading of First Watch Restaurant Group

A number of institutional investors and hedge funds have recently modified their holdings of FWRG. Captrust Financial Advisors raised its stake in First Watch Restaurant Group by 170.4% during the second quarter. Captrust Financial Advisors now owns 2,028 shares of the company's stock worth $29,000 after acquiring an additional 1,278 shares during the period. Tower Research Capital LLC TRC raised its position in shares of First Watch Restaurant Group by 355.7% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,274 shares of the company's stock worth $32,000 after purchasing an additional 1,775 shares during the period. DekaBank Deutsche Girozentrale bought a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth approximately $35,000. Lazard Asset Management LLC boosted its position in First Watch Restaurant Group by 117.8% during the 3rd quarter. Lazard Asset Management LLC now owns 2,047 shares of the company's stock valued at $35,000 after purchasing an additional 1,107 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in First Watch Restaurant Group by 3,232.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,233 shares of the company's stock worth $39,000 after buying an additional 2,166 shares during the last quarter. 96.11% of the stock is owned by institutional investors and hedge funds.

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.