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 ten ratings firms that are presently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $23.30.

Several brokerages have commented on FWRG. Stephens restated an “overweight” rating and issued a $25.00 price objective on shares of First Watch Restaurant Group in a report on Tuesday, January 28th. Piper Sandler raised their price objective on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. TD Cowen raised their price objective on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Raymond James lifted their target price on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Finally, Barclays lifted their target price on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th.

First Watch Restaurant Group Stock Performance

Shares of FWRG opened at $19.85 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. First Watch Restaurant Group has a one year low of $12.90 and a one year high of $25.98. The company has a 50-day simple moving average of $19.96 and a two-hundred day simple moving average of $18.07. The firm has a market capitalization of $1.20 billion, a PE ratio of 60.15, a price-to-earnings-growth ratio of 3.38 and a beta of 0.91.

Institutional Investors Weigh In On First Watch Restaurant Group

Several institutional investors and hedge funds have recently made changes to their positions in FWRG. Rocky Mountain Advisers LLC increased its position in shares of First Watch Restaurant Group by 180.1% during the third quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock valued at $103,000 after acquiring an additional 4,250 shares in the last quarter. Versor Investments LP bought a new stake in shares of First Watch Restaurant Group during the third quarter valued at approximately $201,000. Mutual of America Capital Management LLC bought a new stake in shares of First Watch Restaurant Group during the third quarter valued at approximately $5,757,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of First Watch Restaurant Group during the third quarter valued at approximately $1,566,000. Finally, Commerce Bank bought a new stake in shares of First Watch Restaurant Group during the third quarter valued at approximately $208,000. Institutional investors own 96.11% of the company’s stock.

About First Watch Restaurant Group

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.