First Watch Restaurant Group (NASDAQ:FWRG) Upgraded to Buy at TD Cowen

TD Cowen upgraded shares of First Watch Restaurant Group ( NASDAQ:FWRG – Free Report ) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning, MarketBeat reports. The brokerage currently has $22.00 target price on the stock.

A number of other analysts have also commented on FWRG. TD Securities raised shares of First Watch Restaurant Group from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $21.00 to $22.



00 in a research report on Tuesday. Bank of America boosted their price target on shares of First Watch Restaurant Group from $27.00 to $28.

00 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Benchmark restated a “buy” rating on shares of First Watch Restaurant Group in a report on Wednesday, March 12th. Stephens reiterated an “overweight” rating and set a $24.

00 target price on shares of First Watch Restaurant Group in a report on Thursday, March 20th. Finally, Barclays restated an “overweight” rating and issued a $21.00 price target (down from $24.

00) on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, First Watch Restaurant Group presently has an average rating of “Buy” and an average price target of $22.

45. Read Our Latest Report on First Watch Restaurant Group First Watch Restaurant Group Stock Performance First Watch Restaurant Group ( NASDAQ:FWRG – Get Free Report ) last announced its earnings results on Tuesday, March 11th. The company reported $0.

01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01).

First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%.

The firm had revenue of $263.30 million during the quarter, compared to analyst estimates of $262.82 million.

During the same period in the prior year, the business posted $0.04 EPS. The firm’s quarterly revenue was up 7.

6% compared to the same quarter last year. Equities analysts expect that First Watch Restaurant Group will post 0.32 EPS for the current fiscal year.

Insider Activity In other news, CEO Christopher Anthony Tomasso sold 42,039 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $706,675.

59. Following the completion of the sale, the chief executive officer now owns 389,832 shares in the company, valued at approximately $6,553,075.92.

This trade represents a 9.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link .

Also, insider Jay Anthony Wolszczak sold 5,743 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $96,539.

83. Following the completion of the transaction, the insider now owns 37,768 shares in the company, valued at approximately $634,880.08.

This trade represents a 13.20 % decrease in their position. The disclosure for this sale can be found here .

Insiders own 5.00% of the company’s stock. Institutional Trading of First Watch Restaurant Group Several hedge funds have recently added to or reduced their stakes in FWRG.

Jane Street Group LLC grew its holdings in First Watch Restaurant Group by 1.1% in the 3rd quarter. Jane Street Group LLC now owns 49,358 shares of the company’s stock valued at $770,000 after buying an additional 551 shares in the last quarter.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of First Watch Restaurant Group by 3.7% in the fourth quarter.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,269 shares of the company’s stock valued at $321,000 after acquiring an additional 613 shares during the period. Assetmark Inc.

grew its stake in shares of First Watch Restaurant Group by 68.7% in the fourth quarter. Assetmark Inc.

now owns 2,455 shares of the company’s stock valued at $46,000 after acquiring an additional 1,000 shares in the last quarter. Mariner LLC increased its position in First Watch Restaurant Group by 5.1% during the fourth quarter.

Mariner LLC now owns 21,446 shares of the company’s stock worth $399,000 after acquiring an additional 1,033 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in First Watch Restaurant Group by 2.7% in the 4th quarter.

Bank of New York Mellon Corp now owns 78,621 shares of the company’s stock worth $1,463,000 after purchasing an additional 2,033 shares in the last quarter. 96.11% of the stock is owned by institutional investors and hedge funds.

About First Watch Restaurant Group ( Get Free Report ) 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.

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