First Watch Restaurant Group, Inc. (NASDAQ:FWRG – Get Rating) Director Michael James White sold 4,500,000 shares of First Watch Restaurant Group stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $14.80, for a total value of $66,600,000.00. Following the completion of the transaction, the director now directly owns 42,239,784 shares in the company, valued at approximately $625,148,803.20. The sale was disclosed in a document filed with the SEC, which is available at this link.
First Watch Restaurant Group Stock Down 3.4 %
FWRG opened at $14.53 on Friday. The business has a 50 day moving average price of $16.76 and a 200 day moving average price of $14.67. First Watch Restaurant Group, Inc. has a twelve month low of $11.57 and a twelve month high of $25.46. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.71 and a current ratio of 0.75. The firm has a market cap of $858.43 million and a P/E ratio of 207.60.
First Watch Restaurant Group (NASDAQ:FWRG – Get Rating) last posted its earnings results on Tuesday, August 9th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. First Watch Restaurant Group had a return on equity of 0.75% and a net margin of 0.51%. The firm had revenue of $184.45 million during the quarter, compared to analyst estimates of $176.97 million. Research analysts forecast that First Watch Restaurant Group, Inc. will post 0.2 EPS for the current year.
Institutional Inflows and Outflows
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the company. Cowen lifted their price target on First Watch Restaurant Group from $15.00 to $18.50 and gave the stock a “market perform” rating in a research note on Wednesday, August 10th. Stifel Nicolaus raised their price objective on First Watch Restaurant Group from $20.00 to $23.00 in a research report on Tuesday, August 9th. The Goldman Sachs Group raised their price objective on First Watch Restaurant Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Barclays raised their price objective on First Watch Restaurant Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, June 9th. Finally, Citigroup raised their price objective on First Watch Restaurant Group to $23.00 in a research report on Monday, August 15th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.68.
First Watch Restaurant Group Company Profile
First Watch Restaurant Group, Inc operates and franchises restaurants under the First Watch trade name. As of September 7, 2022, it operated 445 restaurants in 28 states 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.
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