First Watch Restaurant Group (NASDAQ:FWRG) Stock Price Breaks Above 50-Day Moving Average – Time to Sell?

First Watch Restaurant Group, Inc. (NASDAQ:FWRG)’s share price passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $11.37 and traded as high as $11.96. First Watch Restaurant Group shares last traded at $11.55, with a volume of 2,324,492 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on FWRG shares. Guggenheim lowered their target price on First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. DA Davidson reduced their price target on First Watch Restaurant Group from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, October 2nd. Wall Street Zen upgraded First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings raised First Watch Restaurant Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Finally, Citigroup lowered their price objective on First Watch Restaurant Group from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $17.90.

First Watch Restaurant Group Trading Up 1.8%

The stock’s 50 day moving average price is $11.37 and its 200-day moving average price is $12.47. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $786.19 million, a PE ratio of 43.93, a PEG ratio of 56.50 and a beta of 1.05.

First Watch Restaurant Group (NASDAQ:FWRG) last released its earnings results on Tuesday, August 4th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $354.67 million for the quarter, compared to analysts’ expectations of $351.57 million. First Watch Restaurant Group had a net margin of 1.35% and a return on equity of 2.85%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.03 EPS. On average, sell-side analysts expect that First Watch Restaurant Group, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Watch Restaurant Group

Several large investors have recently made changes to their positions in FWRG. Allworth Financial LP bought a new stake in shares of First Watch Restaurant Group in the 2nd quarter worth about $29,000. State of Alaska Department of Revenue purchased a new position in shares of First Watch Restaurant Group in the 3rd quarter worth approximately $32,000. Freestone Grove Partners LP purchased a new position in shares of First Watch Restaurant Group in the 2nd quarter worth approximately $38,000. Rockefeller Capital Management L.P. bought a new position in shares of First Watch Restaurant Group during the 4th quarter valued at approximately $63,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of First Watch Restaurant Group during the 2nd quarter valued at approximately $70,000. 96.11% of the stock is owned by institutional investors.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc operates a daytime-focused restaurant concept serving breakfast, brunch and lunch. Its restaurants offer made-to-order meals such as omelets, pancakes, French toast, sandwiches, salads and bowls, along with fresh juices, coffee and other beverages. The company generally does not serve dinner, positioning its restaurants around the daytime dining occasion.

First Watch restaurants emphasize fresh preparation and seasonal menu offerings, including items made with eggs, fruits, vegetables and other ingredients prepared in the restaurant.