Analysts Set First Watch Restaurant Group, Inc. (NASDAQ:FWRG) PT at $24.83

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) have received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $24.83.

Several equities analysts recently issued reports on FWRG shares. Citigroup boosted their target price on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Barclays dropped their target price on shares of First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Stifel Nicolaus boosted their target price on shares of First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Finally, TD Cowen dropped their target price on shares of First Watch Restaurant Group from $25.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, June 13th.

Insider Buying and Selling at First Watch Restaurant Group

In other First Watch Restaurant Group news, Director William A. Kussell sold 8,386 shares of First Watch Restaurant Group stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $22.10, for a total value of $185,330.60. Following the completion of the sale, the director now directly owns 12,409 shares of the company’s stock, valued at $274,238.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.00% of the company’s stock.

Institutional Trading of First Watch Restaurant Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. iA Global Asset Management Inc. grew its holdings in First Watch Restaurant Group by 24.0% during the first quarter. iA Global Asset Management Inc. now owns 17,950 shares of the company’s stock worth $442,000 after buying an additional 3,480 shares in the last quarter. California State Teachers Retirement System grew its stake in shares of First Watch Restaurant Group by 15.6% in the 1st quarter. California State Teachers Retirement System now owns 31,822 shares of the company’s stock worth $783,000 after acquiring an additional 4,294 shares in the last quarter. Vancity Investment Management Ltd raised its holdings in shares of First Watch Restaurant Group by 60.8% in the first quarter. Vancity Investment Management Ltd now owns 35,064 shares of the company’s stock valued at $863,000 after purchasing an additional 13,256 shares during the last quarter. Janus Henderson Group PLC bought a new position in shares of First Watch Restaurant Group during the first quarter valued at about $226,000. Finally, Bayesian Capital Management LP boosted its holdings in First Watch Restaurant Group by 17.6% during the first quarter. Bayesian Capital Management LP now owns 19,369 shares of the company’s stock worth $477,000 after purchasing an additional 2,900 shares during the last quarter. 96.11% of the stock is owned by hedge funds and other institutional investors.

First Watch Restaurant Group Price Performance

Shares of NASDAQ:FWRG opened at $17.56 on Thursday. The firm has a market cap of $1.06 billion, a PE ratio of 46.21, a price-to-earnings-growth ratio of 2.25 and a beta of 0.93. The firm’s fifty day moving average is $20.20 and its 200-day moving average is $21.57. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.55 and a current ratio of 0.60. First Watch Restaurant Group has a 52 week low of $16.19 and a 52 week high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $242.40 million for the quarter, compared to analyst estimates of $245.03 million. First Watch Restaurant Group had a net margin of 2.52% and a return on equity of 4.15%. First Watch Restaurant Group’s revenue was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 earnings per share. Sell-side analysts predict that First Watch Restaurant Group will post 0.39 earnings per share for the current 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.