First Watch Restaurant Group (NASDAQ:FWRG) Reaches New 52-Week Low – What’s Next?

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $11.56 and last traded at $11.6450, with a volume of 676845 shares trading hands. The stock had previously closed at $12.44.

Analyst Ratings Changes

FWRG has been the topic of a number of recent research reports. Zacks Research raised First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 price objective on shares of First Watch Restaurant Group in a research report on Tuesday, February 24th. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. Guggenheim decreased their target price on shares of First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Finally, DA Davidson began coverage on shares of First Watch Restaurant Group in a research report on Friday, March 6th. They issued a “buy” rating and a $17.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, First Watch Restaurant Group currently has an average rating of “Moderate Buy” and an average target price of $19.75.

First Watch Restaurant Group Price Performance

The firm has a 50-day moving average of $15.34 and a 200-day moving average of $16.43. The stock has a market cap of $730.93 million, a PE ratio of 38.61, a PEG ratio of 2.52 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.25.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.16. First Watch Restaurant Group had a return on equity of 3.20% and a net margin of 1.59%.The business had revenue of $316.35 million during the quarter, compared to the consensus estimate of $317.49 million. During the same period in the prior year, the company posted $0.01 EPS. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. Research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling at First Watch Restaurant Group

In related news, Director William A. Kussell sold 6,165 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $17.00, for a total transaction of $104,805.00. Following the completion of the transaction, the director owned 26,402 shares in the company, valued at approximately $448,834. This represents a 18.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.00% of the company’s stock.

Institutional Trading of First Watch Restaurant Group

Hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp bought a new position in shares of First Watch Restaurant Group during the 3rd quarter valued at about $30,000. First Horizon Advisors Inc. increased its holdings in shares of First Watch Restaurant Group by 207.6% in the second quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock worth $31,000 after purchasing an additional 1,316 shares during the last quarter. State of Wyoming purchased a new stake in shares of First Watch Restaurant Group in the fourth quarter worth about $64,000. Kemnay Advisory Services Inc. bought a new position in First Watch Restaurant Group during the fourth quarter valued at approximately $66,000. Finally, BNP Paribas Financial Markets grew its holdings in First Watch Restaurant Group by 61.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock valued at $70,000 after buying an additional 1,673 shares in the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Company Profile

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.