First Watch Restaurant Group (NASDAQ:FWRG) Price Target Lowered to $21.00 at Stephens

First Watch Restaurant Group (NASDAQ:FWRG) had its price objective lowered by equities researchers at Stephens from $24.00 to $21.00 in a report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Stephens’ price objective would indicate a potential upside of 70.45% from the company’s current price.

Other equities research analysts also recently issued reports about the company. Barclays cut their target price on First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. Piper Sandler reissued an “overweight” rating and issued a $19.00 price objective on shares of First Watch Restaurant Group in a research note on Tuesday. Zacks Research upgraded First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. Finally, Wall Street Zen upgraded shares of First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, First Watch Restaurant Group presently has a consensus rating of “Moderate Buy” and an average target price of $20.27.

First Watch Restaurant Group Stock Performance

Shares of FWRG opened at $12.32 on Wednesday. The firm has a fifty day moving average of $16.06 and a 200-day moving average of $16.82. The company has a market cap of $751.89 million, a price-to-earnings ratio of 154.02, a price-to-earnings-growth ratio of 2.82 and a beta of 0.88. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.21 and a current ratio of 0.25. First Watch Restaurant Group has a 1 year low of $12.17 and a 1 year high of $21.99.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data 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. The business had revenue of $316.35 million during the quarter, compared to the consensus estimate of $317.49 million. First Watch Restaurant Group had a net margin of 0.42% and a return on equity of 0.83%. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 earnings per share. As a group, equities analysts anticipate that First Watch Restaurant Group will post 0.32 earnings per share 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 First Watch Restaurant Group stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $17.00, for a total value of $104,805.00. Following the transaction, the director owned 26,402 shares of the company’s stock, valued at approximately $448,834. This trade represents a 18.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Watch Restaurant Group

A number of large investors have recently made changes to their positions in FWRG. Jones Financial Companies Lllp acquired a new position in First Watch Restaurant Group in the 3rd quarter worth approximately $30,000. First Horizon Advisors Inc. lifted 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 valued at $31,000 after purchasing an additional 1,316 shares in the last quarter. State of Wyoming acquired a new stake in shares of First Watch Restaurant Group in the fourth quarter worth $64,000. Kemnay Advisory Services Inc. acquired a new stake in shares of First Watch Restaurant Group in the fourth quarter worth $66,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of First Watch Restaurant Group by 61.9% during the second 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. Institutional investors and hedge funds own 96.11% of the company’s stock.

Key Headlines Impacting First Watch Restaurant Group

Here are the key news stories impacting First Watch Restaurant Group this week:

• Positive Sentiment: Q4 beat on the bottom line — First Watch reported $0.24 EPS vs. a $0.08 consensus and delivered 20.2% year‑over‑year revenue growth, showing solid operating leverage vs. last year. Read More.
• Positive Sentiment: Company set a growth roadmap for 2026 — First Watch provided an outlook targeting roughly $1.4B in revenue and a 12%–14% revenue growth target while emphasizing expanded digital marketing and menu innovation to drive comp and new unit performance. Read More.
• Neutral Sentiment: Analyst repositioning — TD Cowen trimmed its price target from $21 to $18 but maintained a Buy rating, reflecting moderated near‑term expectations while still signaling upside vs. current levels. Read More.
• Neutral Sentiment: Full earnings materials available — Investors can review the earnings transcript, slide deck and call details for color on margins, unit growth cadence and marketing spend. Read More.
• Negative Sentiment: Market reaction: shares falling — Despite the EPS beat, investors focused on the slight revenue miss versus consensus and the tone of guidance/forward commentary; that combination helped trigger a selloff. Read More.
• Negative Sentiment: CFO transition introduces near‑term uncertainty — CFO Mel Hope announced retirement later this year and the company has started a successor search, which can create short‑term execution and disclosure risk until a replacement is named. Read More.

About First Watch Restaurant Group

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.