Eric Richard Hartman Sells 1,474 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRGGet Free Report) insider Eric Richard Hartman sold 1,474 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $25.03, for a total transaction of $36,894.22. Following the transaction, the insider now directly owns 51,417 shares in the company, valued at approximately $1,286,967.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

First Watch Restaurant Group Stock Up 1.2 %

FWRG opened at $24.79 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.49 and a debt-to-equity ratio of 0.21. First Watch Restaurant Group, Inc. has a 1-year low of $14.34 and a 1-year high of $25.88. The company has a market capitalization of $1.49 billion, a PE ratio of 60.46, a PEG ratio of 1.46 and a beta of 1.13. The firm’s 50 day simple moving average is $22.01 and its two-hundred day simple moving average is $19.52.

First Watch Restaurant Group (NASDAQ:FWRGGet Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $244.60 million during the quarter, compared to analysts’ expectations of $237.20 million. First Watch Restaurant Group had a net margin of 2.85% and a return on equity of 4.62%. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) earnings per share. As a group, equities analysts forecast that First Watch Restaurant Group, Inc. will post 0.44 EPS for the current year.

Institutional Trading of First Watch Restaurant Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company purchased a new position in First Watch Restaurant Group during the second quarter valued at $20,745,000. Capital Research Global Investors purchased a new position in First Watch Restaurant Group during the second quarter valued at $11,205,000. Lord Abbett & CO. LLC grew its stake in First Watch Restaurant Group by 433.0% during the third quarter. Lord Abbett & CO. LLC now owns 668,159 shares of the company’s stock valued at $11,552,000 after acquiring an additional 542,800 shares in the last quarter. Invesco Ltd. purchased a new position in First Watch Restaurant Group during the third quarter valued at $8,940,000. Finally, Driehaus Capital Management LLC bought a new position in First Watch Restaurant Group during the second quarter valued at $6,755,000. 96.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FWRG has been the topic of several recent research reports. Raymond James increased their target price on shares of First Watch Restaurant Group from $23.00 to $25.00 and gave the company a “strong-buy” rating in a report on Thursday, January 25th. Stifel Nicolaus increased 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. Citigroup raised their price target on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays raised their price target on shares of First Watch Restaurant Group from $23.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, TD Cowen raised their target price on shares of First Watch Restaurant Group from $21.00 to $26.00 and gave the stock a “market perform” rating in a research report on Tuesday. Two 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 data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.00.

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First Watch Restaurant Group Company Profile

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First Watch Restaurant Group, Inc 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. The company was founded in 1983 and is headquartered in Bradenton, Florida.

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Insider Buying and Selling by Quarter for First Watch Restaurant Group (NASDAQ:FWRG)

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