First Watch Restaurant Group (NASDAQ:FWRG) Reaches New 52-Week Low at $15.01

First Watch Restaurant Group, Inc. (NASDAQ:FWRG)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $15.01 and last traded at $15.08, with a volume of 128670 shares. The stock had previously closed at $15.41.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FWRG shares. Stifel Nicolaus decreased their target price on shares of First Watch Restaurant Group from $22.00 to $18.00 and set a “hold” rating on the stock in a research report on Tuesday, July 2nd. Bank of America lowered their target price on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. TD Cowen cut their price target on shares of First Watch Restaurant Group from $21.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, July 17th. Finally, Barclays decreased their price objective on shares of First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.00.

First Watch Restaurant Group Price Performance

The stock’s fifty day simple moving average is $17.87 and its 200 day simple moving average is $21.14. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.60 and a quick ratio of 0.55. The firm has a market capitalization of $916.42 million, a P/E ratio of 39.97, a P/E/G ratio of 2.14 and a beta of 0.88.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $242.40 million for the quarter, compared to the consensus estimate of $245.03 million. First Watch Restaurant Group had a return on equity of 4.15% and a net margin of 2.52%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. On average, equities research analysts predict that First Watch Restaurant Group, Inc. will post 0.37 EPS for the current year.

Institutional Investors Weigh In On First Watch Restaurant Group

Several institutional investors have recently added to or reduced their stakes in FWRG. WCM Investment Management LLC purchased a new position in shares of First Watch Restaurant Group in the 1st quarter valued at approximately $16,030,000. Foxhaven Asset Management LP lifted its stake in shares of First Watch Restaurant Group by 44.3% during the fourth quarter. Foxhaven Asset Management LP now owns 1,046,362 shares of the company’s stock worth $21,032,000 after buying an additional 321,375 shares during the period. Deepwater Asset Management LLC increased its position in shares of First Watch Restaurant Group by 275.3% in the 1st quarter. Deepwater Asset Management LLC now owns 412,884 shares of the company’s stock valued at $10,165,000 after acquiring an additional 302,878 shares during the period. Vanguard Group Inc. lifted its position in First Watch Restaurant Group by 25.1% during the 3rd quarter. Vanguard Group Inc. now owns 1,311,905 shares of the company’s stock worth $22,683,000 after acquiring an additional 263,101 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in First Watch Restaurant Group by 14.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,408,454 shares of the company’s stock valued at $28,310,000 after purchasing an additional 175,074 shares during the last quarter. Institutional investors and hedge funds 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.