First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Given Average Rating of “Moderate Buy” by Analysts

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $24.83.

Several analysts recently issued reports on the company. TD Cowen cut their price target on First Watch Restaurant Group from $25.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, June 13th. Stifel Nicolaus boosted their price target on shares of First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Barclays dropped their price objective on shares of First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Finally, Citigroup increased their price target on First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th.

First Watch Restaurant Group Stock Performance

Shares of FWRG stock opened at $18.22 on Thursday. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 47.95, a PEG ratio of 2.31 and a beta of 0.93. First Watch Restaurant Group has a one year low of $16.19 and a one year high of $25.98. The company’s 50-day simple moving average is $20.38 and its 200-day simple moving average is $21.59. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.55 and a current ratio of 0.60.

First Watch Restaurant Group (NASDAQ:FWRG) last released its earnings results on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. First Watch Restaurant Group had a return on equity of 4.15% and a net margin of 2.52%. The company had revenue of $242.40 million for the quarter, compared to the consensus estimate of $245.03 million. During the same quarter last year, the business posted $0.15 EPS. First Watch Restaurant Group’s quarterly revenue was up 14.7% compared to the same quarter last year. Equities analysts anticipate that First Watch Restaurant Group will post 0.39 earnings per share for the current fiscal year.

Insider Activity at First Watch Restaurant Group

In other First Watch Restaurant Group news, Director William A. Kussell sold 8,386 shares of First Watch Restaurant Group stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $22.10, for a total value of $185,330.60. Following the transaction, the director now owns 12,409 shares in the company, valued at $274,238.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On First Watch Restaurant Group

Large investors have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new position in First Watch Restaurant Group in the 3rd quarter worth about $35,000. Sunbelt Securities Inc. acquired a new position in First Watch Restaurant Group in the 1st quarter worth approximately $65,000. iA Global Asset Management Inc. acquired a new stake in First Watch Restaurant Group during the 3rd quarter valued at $95,000. Quent Capital LLC purchased a new stake in shares of First Watch Restaurant Group in the first quarter valued at $172,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of First Watch Restaurant Group in the first quarter worth $226,000. 96.11% of the stock is owned by institutional investors.

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.