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

First Watch Restaurant Group (NASDAQ:FWRG) had its price objective reduced by research analysts at Stifel Nicolaus from $22.00 to $18.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 12.01% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. TD Cowen lowered their target price on shares of First Watch Restaurant Group from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Thursday, June 13th. Barclays decreased their price target on shares of First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 8th. Finally, Citigroup boosted 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 research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $24.17.

First Watch Restaurant Group Trading Down 1.0 %

Shares of First Watch Restaurant Group stock opened at $16.07 on Tuesday. The company’s fifty day simple moving average is $19.82 and its 200-day simple moving average is $21.50. The stock has a market capitalization of $970.19 million, a PE ratio of 42.29, a P/E/G ratio of 2.25 and a beta of 0.88. First Watch Restaurant Group has a 1-year low of $15.90 and a 1-year high of $25.98. 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:FWRG) last released its earnings results 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. First Watch Restaurant Group had a net margin of 2.52% and a return on equity of 4.15%. The company had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $245.03 million. During the same quarter in the previous year, the company earned $0.15 EPS. First Watch Restaurant Group’s revenue for the quarter was up 14.7% on a year-over-year basis. As a group, equities analysts anticipate that First Watch Restaurant Group will post 0.39 earnings per share for the current year.

Insider Activity at First Watch Restaurant Group

In related news, Director William A. Kussell sold 8,386 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $22.10, for a total transaction of $185,330.60. Following the transaction, the director now directly owns 12,409 shares in the company, valued at approximately $274,238.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Watch Restaurant Group

A number of hedge funds have recently added to or reduced their stakes in FWRG. Sunbelt Securities Inc. purchased a new stake in shares of First Watch Restaurant Group in the 1st quarter worth approximately $65,000. iA Global Asset Management Inc. purchased a new stake in First Watch Restaurant Group during the third quarter valued at approximately $95,000. Quent Capital LLC purchased a new stake in First Watch Restaurant Group during the first quarter valued at approximately $172,000. Janus Henderson Group PLC purchased a new stake in First Watch Restaurant Group during the first quarter valued at approximately $226,000. Finally, LVW Advisors LLC purchased a new stake in First Watch Restaurant Group during the first quarter valued at approximately $227,000. 96.11% of the stock is currently owned by institutional investors.

About First Watch Restaurant Group

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.