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

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $23.30.

FWRG has been the topic of a number of research analyst reports. TD Cowen boosted their target price on First Watch Restaurant Group from $18.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Benchmark reissued a “buy” rating and issued a $23.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Stephens reaffirmed an “overweight” rating and set a $25.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday, January 28th. Barclays boosted their price target on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, Raymond James raised their price objective on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th.

Insider Activity at First Watch Restaurant Group

In other First Watch Restaurant Group news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of First Watch Restaurant Group stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $19.76, for a total transaction of $158,080,000.00. Following the completion of the transaction, the insider now owns 19,189,784 shares of the company’s stock, valued at $379,190,131.84. The trade was a 29.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Watch Restaurant Group

A number of large investors have recently modified their holdings of the company. Barclays PLC lifted its stake in First Watch Restaurant Group by 505.3% in the 3rd quarter. Barclays PLC now owns 172,515 shares of the company’s stock worth $2,690,000 after purchasing an additional 144,014 shares in the last quarter. Mutual of America Capital Management LLC purchased a new stake in shares of First Watch Restaurant Group in the third quarter worth $5,757,000. Geode Capital Management LLC boosted its stake in First Watch Restaurant Group by 13.5% during the third quarter. Geode Capital Management LLC now owns 769,608 shares of the company’s stock valued at $12,008,000 after buying an additional 91,416 shares during the period. JPMorgan Chase & Co. grew its position in First Watch Restaurant Group by 22.6% during the third quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company’s stock worth $30,988,000 after buying an additional 366,227 shares in the last quarter. Finally, FMR LLC increased its stake in First Watch Restaurant Group by 9.5% in the 3rd quarter. FMR LLC now owns 625,523 shares of the company’s stock worth $9,758,000 after acquiring an additional 54,282 shares during the last quarter. 96.11% of the stock is currently owned by institutional investors.

First Watch Restaurant Group Price Performance

Shares of NASDAQ:FWRG opened at $21.39 on Friday. First Watch Restaurant Group has a 1-year low of $12.90 and a 1-year high of $25.98. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.30 billion, a PE ratio of 64.82, a price-to-earnings-growth ratio of 3.50 and a beta of 0.91. The stock’s fifty day simple moving average is $19.41 and its two-hundred day simple moving average is $17.44.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm had revenue of $251.61 million for the quarter, compared to the consensus estimate of $256.17 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.09 earnings per share. As a group, analysts forecast that First Watch Restaurant Group will post 0.32 EPS for the current fiscal year.

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.