First Watch Restaurant Group (NASDAQ:FWRG) Upgraded at Wall Street Zen

First Watch Restaurant Group (NASDAQ:FWRG) was upgraded by investment analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a report issued on Saturday.

Other equities research analysts have also issued research reports about the company. Barclays reduced their price target on First Watch Restaurant Group from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. TD Cowen reduced their price target on First Watch Restaurant Group from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Citigroup reduced their price target on First Watch Restaurant Group from $26.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Guggenheim reduced their price target on First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, Stifel Nicolaus set a $14.00 price target on First Watch Restaurant Group in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $19.25.

First Watch Restaurant Group Price Performance

Shares of FWRG opened at $11.63 on Friday. First Watch Restaurant Group has a 12-month low of $10.09 and a 12-month high of $19.53. The business has a 50-day simple moving average of $11.70 and a two-hundred day simple moving average of $14.33. The company has a quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 0.43. The stock has a market cap of $716.99 million, a PE ratio of 41.54, a PEG ratio of 6.10 and a beta of 1.11.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.38%.The firm had revenue of $330.96 million during the quarter, compared to analyst estimates of $329.35 million. During the same period in the previous year, the company earned ($0.01) EPS. First Watch Restaurant Group’s revenue for the quarter was up 17.3% on a year-over-year basis. Analysts anticipate that First Watch Restaurant Group will post 0.2 earnings per share for the current fiscal year.

Insider Transactions at First Watch Restaurant Group

In other First Watch Restaurant Group news, CFO H Melville Hope III sold 3,878 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $12.52, for a total value of $48,552.56. Following the sale, the chief financial officer owned 111,787 shares in the company, valued at approximately $1,399,573.24. The trade was a 3.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Matthew Eisenacher sold 2,760 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $12.52, for a total value of $34,555.20. Following the sale, the insider directly owned 67,223 shares of the company’s stock, valued at $841,631.96. This represents a 3.94% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 68,013 shares of company stock worth $853,606. 6.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Watch Restaurant Group

Several large investors have recently added to or reduced their stakes in FWRG. Jones Financial Companies Lllp acquired a new stake in First Watch Restaurant Group during the third quarter worth approximately $30,000. Rockefeller Capital Management L.P. acquired a new stake in First Watch Restaurant Group during the fourth quarter worth approximately $63,000. State of Wyoming acquired a new stake in First Watch Restaurant Group during the fourth quarter worth approximately $64,000. Kemnay Advisory Services Inc. acquired a new stake in First Watch Restaurant Group during the fourth quarter worth approximately $66,000. Finally, BNP Paribas Financial Markets grew its stake in First Watch Restaurant Group by 61.9% during the second quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock worth $70,000 after purchasing an additional 1,673 shares during the period. Institutional investors and hedge funds own 96.11% of the company’s stock.

About First Watch Restaurant Group

First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.