TD Securities Reiterates “Hold” Rating for First Watch Restaurant Group (NASDAQ:FWRG)

First Watch Restaurant Group (NASDAQ:FWRG)‘s stock had its “hold” rating reaffirmed by investment analysts at TD Securities in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $21.00 target price on the stock. TD Securities’ target price suggests a potential upside of 27.89% from the stock’s previous close.

Separately, Stephens reaffirmed an “overweight” rating and issued a $25.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday. Three investment 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’s stock. According to MarketBeat, First Watch Restaurant Group presently has an average rating of “Moderate Buy” and an average price target of $22.36.

First Watch Restaurant Group Trading Down 3.6 %

Shares of FWRG stock opened at $16.42 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32. First Watch Restaurant Group has a fifty-two week low of $12.90 and a fifty-two week high of $25.98. The firm’s 50 day moving average price is $19.89 and its two-hundred day moving average price is $18.13. The stock has a market cap of $994.56 million, a price-to-earnings ratio of 49.76, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its earnings results on Tuesday, March 11th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $263.30 million for the quarter, compared to analyst estimates of $262.82 million. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.04 earnings per share. On average, analysts anticipate that First Watch Restaurant Group will post 0.32 EPS for the current year.

Institutional Investors Weigh In On First Watch Restaurant Group

A number of institutional investors have recently added to or reduced their stakes in the stock. Champlain Investment Partners LLC increased its position in shares of First Watch Restaurant Group by 59.0% during the 4th quarter. Champlain Investment Partners LLC now owns 2,582,303 shares of the company’s stock worth $48,057,000 after purchasing an additional 958,417 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of First Watch Restaurant Group by 25.6% during the fourth quarter. Vanguard Group Inc. now owns 2,351,614 shares of the company’s stock worth $43,764,000 after buying an additional 479,741 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of First Watch Restaurant Group by 7.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,141,209 shares of the company’s stock worth $39,848,000 after buying an additional 154,784 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of First Watch Restaurant Group in the fourth quarter valued at approximately $39,095,000. Finally, 12 West Capital Management LP boosted its holdings in shares of First Watch Restaurant Group by 20.2% in the 4th quarter. 12 West Capital Management LP now owns 2,013,406 shares of the company’s stock worth $37,469,000 after acquiring an additional 337,920 shares in the last quarter. 96.11% of the stock is owned by institutional investors and hedge funds.

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.