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

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has been assigned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $24.83.

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

First Watch Restaurant Group Stock Down 0.2 %

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

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

Insider Activity at First Watch Restaurant Group

In related news, Director William A. Kussell sold 8,386 shares of the company’s 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 owns 12,409 shares in the company, valued at approximately $274,238.90. The transaction was disclosed in a filing with the SEC, which is available through this link. 5.00% of the stock is owned by corporate insiders.

Institutional Trading of First Watch Restaurant Group

A number of large investors have recently made changes to their positions in FWRG. Gilder Gagnon Howe & Co. LLC increased its holdings in First Watch Restaurant Group by 9.6% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 1,074,612 shares of the company’s stock worth $21,600,000 after purchasing an additional 93,931 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in First Watch Restaurant Group by 16.5% during the 4th quarter. Stephens Investment Management Group LLC now owns 353,041 shares of the company’s stock worth $7,096,000 after purchasing an additional 50,057 shares in the last quarter. Invesco Ltd. bought a new position in First Watch Restaurant Group during the 3rd quarter worth about $8,940,000. 12 West Capital Management LP bought a new position in First Watch Restaurant Group during the 3rd quarter worth about $3,717,000. Finally, Swiss National Bank increased its holdings in First Watch Restaurant Group by 53.1% during the 3rd quarter. Swiss National Bank now owns 58,800 shares of the company’s stock worth $1,017,000 after purchasing an additional 20,400 shares in the last quarter. Institutional investors own 96.11% of the company’s stock.

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.