First Watch Restaurant Group’s (FWRG) Overweight Rating Reaffirmed at Stephens

Stephens reiterated their overweight rating on shares of First Watch Restaurant Group (NASDAQ:FWRG) in a report released on Tuesday morning,Benzinga reports. They currently have a $25.00 price objective on the stock.

Separately, Piper Sandler increased their price target 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. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

First Watch Restaurant Group Trading Down 7.0 %

NASDAQ FWRG opened at $16.83 on Tuesday. The company has a market capitalization of $1.02 billion, a PE ratio of 51.00, a P/E/G ratio of 3.38 and a beta of 0.90. The company has a fifty day moving average of $19.92 and a 200 day moving average of $18.14. First Watch Restaurant Group has a 1 year low of $12.90 and a 1 year high of $25.98. 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 (NASDAQ:FWRG) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $263.30 million for the quarter, compared to analysts’ expectations of $262.82 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. Research analysts forecast that First Watch Restaurant Group will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On First Watch Restaurant Group

A number of large investors have recently added to or reduced their stakes in FWRG. Assetmark Inc. raised its position in First Watch Restaurant Group by 68.7% during the fourth quarter. Assetmark Inc. now owns 2,455 shares of the company’s stock worth $46,000 after acquiring an additional 1,000 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of First Watch Restaurant Group during the 4th quarter worth about $51,000. State of Wyoming raised its position in shares of First Watch Restaurant Group by 212.6% during the 4th quarter. State of Wyoming now owns 3,214 shares of the company’s stock worth $60,000 after purchasing an additional 2,186 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in shares of First Watch Restaurant Group during the fourth quarter valued at approximately $81,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of First Watch Restaurant Group during the fourth quarter valued at approximately $86,000. 96.11% of the stock is currently owned by institutional investors and hedge funds.

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.