First Watch Restaurant Group (NASDAQ:FWRG) Reaches New 12-Month Low - Time to Sell?

Key Points

• First Watch Restaurant Group shares hit a new 52-week low, falling to $9.88 before closing at $10.20, well below the 50-day and 200-day moving averages.
• Analyst sentiment remains mixed but leans positive: the stock has a consensus “Moderate Buy” rating and an average price target of $18.56, despite recent price-target cuts and downgrades.
• The company’s latest quarter showed 15.2% year-over-year revenue growth to $354.67 million, though earnings of $0.04 per share narrowly missed estimates; institutional investors own 96.11% of outstanding shares.

First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $9.88 and last traded at $10.20, with a volume of 1534052 shares trading hands. The stock had previously closed at $10.32.

Analyst Ratings Changes

Several analysts recently commented on FWRG shares. Freedom Capital upgraded shares of First Watch Restaurant Group to a "strong-buy" rating in a research report on Wednesday, July 1st. Guggenheim dropped their price objective on shares of First Watch Restaurant Group from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Citigroup reduced their target price on shares of First Watch Restaurant Group from $21.00 to $20.00 and set a "buy" rating for the company in a report on Wednesday, August 5th. Weiss Ratings downgraded shares of First Watch Restaurant Group from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Monday, September 14th. Finally, Wall Street Zen upgraded First Watch Restaurant Group from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $18.56.

First Watch Restaurant Group Price Performance

The company has a market cap of $629.44 million, a price-to-earnings ratio of 35.17, a PEG ratio of 17.20 and a beta of 1.03. The company's 50 day moving average price is $12.09 and its 200 day moving average price is $11.91. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.44.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $354.67 million for the quarter, compared to analysts' expectations of $351.57 million. First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.35%.The company's revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.03 earnings per share. Equities research analysts forecast that First Watch Restaurant Group, Inc. will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On First Watch Restaurant Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Allworth Financial LP purchased a new position in shares of First Watch Restaurant Group in the 2nd quarter valued at about $29,000. Freestone Grove Partners LP acquired a new position in First Watch Restaurant Group during the second quarter worth about $38,000. Rockefeller Capital Management L.P. purchased a new position in First Watch Restaurant Group in the fourth quarter valued at about $63,000. Integrated Wealth Concepts LLC purchased a new position in First Watch Restaurant Group in the second quarter valued at about $70,000. Finally, State of Wyoming acquired a new stake in shares of First Watch Restaurant Group during the 2nd quarter valued at approximately $81,000. Institutional investors and hedge funds own 96.11% of the company's stock.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc is a U.S.-based restaurant company that operates full-service daytime dining restaurants under the First Watch brand. Its restaurants serve breakfast, brunch and lunch, with made-to-order menu items such as omelets, eggs, pancakes, avocado toast, sandwiches, salads and fresh juices. The company emphasizes fresh ingredients, seasonal offerings and hospitality in a daytime-only operating model.

First Watch restaurants are located across the United States, primarily in suburban and high-traffic retail areas.

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