First Watch Restaurant Group (NASDAQ:FWRG) Sets New 12-Month Low at $14.32

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) hit a new 52-week low on Monday . The company traded as low as $14.32 and last traded at $14.47, with a volume of 6256 shares. The stock had previously closed at $15.03.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. TD Cowen lowered their price target on First Watch Restaurant Group from $21.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, July 17th. Stifel Nicolaus cut their price target on shares of First Watch Restaurant Group from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, July 2nd. Bank of America decreased their price objective on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Barclays cut their target price on 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. 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.00.

First Watch Restaurant Group Stock Performance

The company has a 50 day simple moving average of $17.17 and a 200-day simple moving average of $20.90. The stock has a market capitalization of $866.35 million, a P/E ratio of 39.55, a price-to-earnings-growth ratio of 2.15 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:FWRG) last issued its earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $242.40 million during the quarter, compared to analyst estimates of $245.03 million. First Watch Restaurant Group had a net margin of 2.52% and a return on equity of 4.15%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business earned $0.15 earnings per share. On average, equities analysts forecast that First Watch Restaurant Group, Inc. will post 0.37 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Sei Investments Co. boosted its position in shares of First Watch Restaurant Group by 6.5% during the 1st quarter. Sei Investments Co. now owns 29,162 shares of the company’s stock valued at $718,000 after acquiring an additional 1,783 shares during the last quarter. iA Global Asset Management Inc. grew its stake in First Watch Restaurant Group by 10.9% in the 2nd quarter. iA Global Asset Management Inc. now owns 19,898 shares of the company’s stock worth $349,000 after buying an additional 1,948 shares in the last quarter. Quent Capital LLC increased its holdings in shares of First Watch Restaurant Group by 28.6% in the 2nd quarter. Quent Capital LLC now owns 9,000 shares of the company’s stock worth $158,000 after buying an additional 2,000 shares during the last quarter. Sunbelt Securities Inc. purchased a new stake in shares of First Watch Restaurant Group during the 1st quarter valued at $65,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of First Watch Restaurant Group by 3.6% during the 4th quarter. New York State Common Retirement Fund now owns 78,481 shares of the company’s stock worth $1,577,000 after acquiring an additional 2,763 shares during the last quarter. Institutional investors own 96.11% of the company’s stock.

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.