Stifel Nicolaus Cuts First Watch Restaurant Group (NASDAQ:FWRG) Price Target to $18.00

First Watch Restaurant Group (NASDAQ:FWRGFree Report) had its price target decreased by Stifel Nicolaus from $22.00 to $18.00 in a report released on Tuesday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other brokerages also recently weighed in on FWRG. TD Cowen lowered their price target on First Watch Restaurant Group from $25.00 to $21.00 and set a hold rating for the company in a report on Thursday, June 13th. Barclays lowered their price target on First Watch Restaurant Group from $29.00 to $27.00 and set an overweight rating for the company in a report on Wednesday, May 8th. Finally, Citigroup raised their price target on First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a buy rating in a report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $24.17.

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First Watch Restaurant Group Price Performance

Shares of FWRG stock opened at $16.07 on Tuesday. First Watch Restaurant Group has a 1-year low of $15.90 and a 1-year high of $25.98. The stock’s 50-day moving average is $19.67 and its 200 day moving average is $21.47. The company has a market cap of $970.15 million, a P/E ratio of 42.29, a PEG ratio of 2.13 and a beta of 0.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.60 and a quick ratio of 0.55.

First Watch Restaurant Group (NASDAQ:FWRGGet Free Report) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $242.40 million for the quarter, compared to the consensus estimate of $245.03 million. First Watch Restaurant Group had a return on equity of 4.15% and a net margin of 2.52%. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 earnings per share. Research analysts predict that First Watch Restaurant Group will post 0.38 earnings per share for the current fiscal year.

Insider Transactions at First Watch Restaurant Group

In other news, Director William A. Kussell sold 8,386 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $22.10, for a total value of $185,330.60. Following the completion of the transaction, the director now directly owns 12,409 shares in the company, valued at $274,238.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in First Watch Restaurant Group by 18.8% during the first quarter. Vanguard Group Inc. now owns 1,611,452 shares of the company’s stock valued at $39,674,000 after acquiring an additional 255,307 shares in the last quarter. Brown Advisory Inc. increased its position in shares of First Watch Restaurant Group by 0.4% in the fourth quarter. Brown Advisory Inc. now owns 1,478,407 shares of the company’s stock valued at $29,716,000 after buying an additional 6,494 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of First Watch Restaurant Group by 14.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,408,454 shares of the company’s stock valued at $28,310,000 after buying an additional 175,074 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in shares of First Watch Restaurant Group by 9.6% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,074,612 shares of the company’s stock valued at $21,600,000 after buying an additional 93,931 shares in the last quarter. Finally, Foxhaven Asset Management LP increased its position in shares of First Watch Restaurant Group by 44.3% in the fourth quarter. Foxhaven Asset Management LP now owns 1,046,362 shares of the company’s stock valued at $21,032,000 after buying an additional 321,375 shares in the last quarter. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

About First Watch Restaurant Group

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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.

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Analyst Recommendations for First Watch Restaurant Group (NASDAQ:FWRG)

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