First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives $23.30 Average Price Target from Brokerages

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has received an average rating of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $23.30.

A number of equities analysts recently issued reports on FWRG shares. Raymond James upped their price objective on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Stephens boosted their target price on shares of First Watch Restaurant Group from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Barclays lifted their price target on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Guggenheim reduced 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 research report on Friday, October 4th. Finally, Benchmark reissued a “buy” rating and issued a $23.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th.

Insider Buying and Selling at First Watch Restaurant Group

In other First Watch Restaurant Group news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $19.76, for a total value of $158,080,000.00. Following the completion of the transaction, the insider now owns 19,189,784 shares of the company’s stock, valued at $379,190,131.84. The trade was a 29.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On First Watch Restaurant Group

Several institutional investors have recently bought and sold shares of FWRG. Deepwater Asset Management LLC boosted its stake in shares of 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 valued at $12,216,000 after purchasing an additional 282,765 shares in the last quarter. Barclays PLC boosted its holdings in First Watch Restaurant Group by 505.3% in the third quarter. Barclays PLC now owns 172,515 shares of the company’s stock worth $2,690,000 after acquiring an additional 144,014 shares in the last quarter. Mutual of America Capital Management LLC bought a new stake in First Watch Restaurant Group during the 3rd quarter valued at about $5,757,000. FMR LLC lifted its position in First Watch Restaurant Group by 9.5% in the 3rd quarter. FMR LLC now owns 625,523 shares of the company’s stock valued at $9,758,000 after acquiring an additional 54,282 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of First Watch Restaurant Group by 13.5% during the third quarter. Geode Capital Management LLC now owns 769,608 shares of the company’s stock valued at $12,008,000 after buying an additional 91,416 shares during the last quarter. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

First Watch Restaurant Group Trading Down 3.7 %

Shares of FWRG stock opened at $18.57 on Monday. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.12 billion, a PE ratio of 56.27, a price-to-earnings-growth ratio of 5.68 and a beta of 0.89. The firm has a 50 day moving average price of $19.04 and a two-hundred day moving average price of $16.98. First Watch Restaurant Group has a 12-month low of $12.90 and a 12-month high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The company had revenue of $251.61 million for the quarter, compared to the consensus estimate of $256.17 million. During the same quarter last year, the business earned $0.09 EPS. First Watch Restaurant Group’s revenue was up 14.8% on a year-over-year basis. As a group, analysts predict that First Watch Restaurant Group will post 0.31 earnings per share for the current year.

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.