Brokerages Set First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Price Target at $22.00

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has been given a consensus recommendation of “Moderate Buy” by the nine analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $22.00.

A number of analysts recently commented on FWRG shares. Stephens began coverage on First Watch Restaurant Group in a research report on Thursday, October 17th. They set an “overweight” rating and a $20.00 price objective for the company. Barclays cut their price objective on shares of First Watch Restaurant Group from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Bank of America decreased their target price on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. TD Cowen reiterated a “hold” rating and issued a $18.00 price target on shares of First Watch Restaurant Group in a report on Thursday, September 12th. Finally, Benchmark reissued a “buy” rating and set a $23.00 price target on shares of First Watch Restaurant Group in a research note on Wednesday, October 16th.

Institutional Trading of First Watch Restaurant Group

Several institutional investors have recently made changes to their positions in FWRG. Quent Capital LLC acquired a new position in First Watch Restaurant Group in the first quarter valued at $172,000. SG Americas Securities LLC acquired a new position in shares of First Watch Restaurant Group in the 3rd quarter valued at about $119,000. Janus Henderson Group PLC purchased a new stake in shares of First Watch Restaurant Group during the 1st quarter worth about $226,000. Quantbot Technologies LP purchased a new stake in shares of First Watch Restaurant Group during the 1st quarter worth about $322,000. Finally, Diversified Trust Co acquired a new stake in First Watch Restaurant Group during the 2nd quarter worth approximately $252,000. 96.11% of the stock is owned by hedge funds and other institutional investors.

First Watch Restaurant Group Stock Up 1.0 %

FWRG stock opened at $17.17 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.52. The company’s 50 day simple moving average is $15.71 and its 200-day simple moving average is $17.52. First Watch Restaurant Group has a 12 month low of $12.90 and a 12 month high of $25.98. The firm has a market capitalization of $1.04 billion, a PE ratio of 44.03, a P/E/G ratio of 4.61 and a beta of 0.87.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Tuesday, August 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. First Watch Restaurant Group had a return on equity of 4.24% and a net margin of 2.51%. The firm had revenue of $258.60 million for the quarter, compared to analysts’ expectations of $257.65 million. During the same quarter in the prior year, the firm earned $0.13 EPS. First Watch Restaurant Group’s quarterly revenue was up 19.6% on a year-over-year basis. Equities analysts expect that First Watch Restaurant Group will post 0.33 earnings per share for the current fiscal year.

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.