First Watch Restaurant Group (NASDAQ:FWRG) Rating Reiterated by Benchmark

First Watch Restaurant Group (NASDAQ:FWRG)‘s stock had its “buy” rating reissued by equities researchers at Benchmark in a report released on Wednesday, Benzinga reports. They currently have a $23.00 price target on the stock. Benchmark’s target price would indicate a potential upside of 39.06% from the company’s previous close.

Other research analysts have also issued reports about the stock. Stifel Nicolaus reduced their price objective on shares of 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. Bank of America cut their price target on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Guggenheim cut their price target on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a report on Friday, October 4th. TD Cowen reissued 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, Barclays cut their price target on shares of First Watch Restaurant Group from $27.00 to $21.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Two 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.33.

First Watch Restaurant Group Stock Up 10.5 %

First Watch Restaurant Group stock opened at $16.54 on Wednesday. First Watch Restaurant Group has a 1-year low of $12.90 and a 1-year high of $25.98. The firm has a market capitalization of $998.57 million, a price-to-earnings ratio of 43.53, a P/E/G ratio of 2.09 and a beta of 0.87. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. The firm has a 50 day simple moving average of $15.62 and a 200 day simple moving average of $18.00.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. First Watch Restaurant Group had a net margin of 2.51% and a return on equity of 4.24%. The business had revenue of $258.60 million during the quarter, compared to analyst estimates of $257.65 million. During the same period in the previous year, the business earned $0.13 EPS. First Watch Restaurant Group’s revenue was up 19.6% compared to the same quarter last year. On average, analysts predict that First Watch Restaurant Group will post 0.34 earnings per share for the current year.

Institutional Trading of First Watch Restaurant Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Diversified Trust Co lifted its holdings in shares of First Watch Restaurant Group by 9.8% in the 3rd quarter. Diversified Trust Co now owns 15,750 shares of the company’s stock worth $246,000 after acquiring an additional 1,400 shares during the last quarter. Sei Investments Co. lifted its stake in First Watch Restaurant Group by 6.5% in the first quarter. Sei Investments Co. now owns 29,162 shares of the company’s stock worth $718,000 after purchasing an additional 1,783 shares during the last quarter. iA Global Asset Management Inc. grew its stake in shares of First Watch Restaurant Group by 10.9% during the second quarter. iA Global Asset Management Inc. now owns 19,898 shares of the company’s stock valued at $349,000 after buying an additional 1,948 shares during the last quarter. Quent Capital LLC grew its stake in shares of First Watch Restaurant Group by 28.6% during the second quarter. Quent Capital LLC now owns 9,000 shares of the company’s stock valued at $158,000 after buying an additional 2,000 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new position in shares of First Watch Restaurant Group in the first quarter worth about $65,000. Hedge funds and other 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.