First Watch Restaurant Group (NASDAQ:FWRG – Free Report) had its price objective hoisted by Barclays from $18.00 to $22.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.
A number of other research firms also recently commented on FWRG. Stephens lifted their target price on First Watch Restaurant Group from $20.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday. TD Cowen reaffirmed a “hold” rating and issued a $18.00 target price on shares of First Watch Restaurant Group in a research report on Thursday, September 12th. Bank of America lowered their target price 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. Benchmark reissued a “buy” rating and issued a $23.00 price target on shares of First Watch Restaurant Group in a research note on Wednesday, October 16th. Finally, Guggenheim lowered their price objective on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.30.
Get Our Latest Research Report on FWRG
First Watch Restaurant Group Price Performance
First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). First Watch Restaurant Group had a return on equity of 3.64% and a net margin of 2.09%. The firm had revenue of $251.61 million for the quarter, compared to analyst estimates of $256.17 million. During the same quarter in the prior year, the business earned $0.09 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. Sell-side analysts anticipate that First Watch Restaurant Group will post 0.31 earnings per share for the current year.
Hedge Funds Weigh In On First Watch Restaurant Group
Several institutional investors have recently modified their holdings of the business. 1832 Asset Management L.P. acquired a new position in shares of First Watch Restaurant Group during the first quarter worth about $3,333,000. Nicholas Investment Partners LP purchased a new position in First Watch Restaurant Group in the second quarter worth approximately $3,391,000. Deepwater Asset Management LLC grew its holdings in First Watch Restaurant Group by 68.5% during the 2nd quarter. Deepwater Asset Management LLC now owns 695,649 shares of the company’s stock worth $12,216,000 after acquiring an additional 282,765 shares in the last quarter. Primoris Wealth Advisors LLC purchased a new stake in shares of First Watch Restaurant Group in the 1st quarter valued at approximately $1,788,000. Finally, California State Teachers Retirement System raised its holdings 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 valued at $783,000 after purchasing an additional 4,294 shares in the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than First Watch Restaurant Group
- Consumer Discretionary Stocks Explained
- 2 Chip Stocks Benefitting from OpenAI’s Chip Strategy Expansion
- Want to Profit on the Downtrend? Downtrends, Explained.
- Monday.com’s Manic Price Pullback Is a Signal to Buy
- What is a Secondary Public Offering? What Investors Need to Know
- 3 “Made in America” Stocks to Benefit From the Trump Presidency
Receive News & Ratings for First Watch Restaurant Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Watch Restaurant Group and related companies with MarketBeat.com's FREE daily email newsletter.