First Watch Restaurant Group (NASDAQ:FWRG) Shares Gap Down to $25.13

First Watch Restaurant Group, Inc. (NASDAQ:FWRG)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $25.13, but opened at $24.27. First Watch Restaurant Group shares last traded at $21.40, with a volume of 369,655 shares changing hands.

Analysts Set New Price Targets

FWRG has been the subject of a number of research reports. Stifel Nicolaus raised their price objective on First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Citigroup raised their target price on First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Raymond James raised their target price on 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. TD Cowen restated a “hold” rating and issued a $26.00 target price on shares of First Watch Restaurant Group in a report on Wednesday, April 10th. Finally, Barclays raised their target price on First Watch Restaurant Group from $23.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, First Watch Restaurant Group has a consensus rating of “Moderate Buy” and an average target price of $26.00.

First Watch Restaurant Group Stock Down 15.8 %

The stock has a fifty day moving average of $24.00 and a 200 day moving average of $21.23. The firm has a market capitalization of $1.28 billion, a P/E ratio of 52.20, a price-to-earnings-growth ratio of 2.35 and a beta of 1.07. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.62 and a quick ratio of 0.57.

First Watch Restaurant Group (NASDAQ:FWRG) last released its earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The business had revenue of $244.60 million during the quarter, compared to the consensus estimate of $237.20 million. During the same period last year, the business posted ($0.01) earnings per share. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Watch Restaurant Group news, Director William A. Kussell sold 8,386 shares of the firm’s stock in a transaction on 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 sale, the director now directly owns 12,409 shares of the company’s stock, valued at $274,238.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director William A. Kussell sold 8,386 shares of First Watch Restaurant Group stock in a transaction on 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 through the SEC website. Also, insider Matthew Eisenacher sold 3,770 shares of First Watch Restaurant Group stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $24.28, for a total value of $91,535.60. Following the completion of the transaction, the insider now owns 30,906 shares of the company’s stock, valued at $750,397.68. The disclosure for this sale can be found here. Insiders sold 7,085,127 shares of company stock valued at $170,038,222 over the last ninety days. 5.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Watch Restaurant Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale bought a new stake in First Watch Restaurant Group during the third quarter worth about $35,000. PNC Financial Services Group Inc. raised its position 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 valued at $39,000 after purchasing an additional 2,166 shares during the last quarter. Sunbelt Securities Inc. bought a new position in First Watch Restaurant Group during the 1st quarter valued at approximately $65,000. iA Global Asset Management Inc. bought a new position in First Watch Restaurant Group during the 3rd quarter valued at approximately $95,000. Finally, C M Bidwell & Associates Ltd. bought a new position in First Watch Restaurant Group during the 3rd quarter valued at approximately $119,000. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

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.