First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives Consensus Recommendation of “Moderate Buy” from Analysts

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has earned an average recommendation of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $22.63.

A number of research analysts recently weighed in on FWRG shares. TD Cowen reissued a “hold” rating and set a $18.00 target price on shares of First Watch Restaurant Group in a report on Thursday, September 12th. Stifel Nicolaus reduced their price target on First Watch Restaurant Group from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, July 2nd. Benchmark assumed coverage on First Watch Restaurant Group in a report on Tuesday, August 27th. They set a “buy” rating and a $23.00 target price for the company. Bank of America dropped their price objective on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Guggenheim decreased their target price on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday.

Institutional Trading of First Watch Restaurant Group

Institutional investors have recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new stake in First Watch Restaurant Group during the first quarter worth approximately $65,000. Quent Capital LLC purchased a new position in shares of First Watch Restaurant Group during the first quarter worth about $172,000. SG Americas Securities LLC bought a new position in shares of First Watch Restaurant Group in the third quarter worth approximately $119,000. Janus Henderson Group PLC purchased a new stake in First Watch Restaurant Group in the first quarter valued at approximately $226,000. Finally, LVW Advisors LLC bought a new stake in First Watch Restaurant Group during the first quarter valued at approximately $227,000. Institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Stock Performance

Shares of NASDAQ FWRG opened at $14.51 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.57. The stock has a 50 day moving average price of $15.89 and a 200 day moving average price of $18.69. The stock has a market capitalization of $876.01 million, a PE ratio of 38.18, a price-to-earnings-growth ratio of 2.42 and a beta of 0.87. First Watch Restaurant Group has a 52 week low of $13.99 and a 52 week high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly 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. The firm had revenue of $258.60 million during the quarter, compared to analysts’ expectations of $257.65 million. First Watch Restaurant Group had a net margin of 2.51% and a return on equity of 4.24%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 earnings per share. Analysts predict that First Watch Restaurant Group will post 0.34 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.