First Watch Restaurant Group’s (FWRG) Overweight Rating Reiterated at Stephens

Stephens reissued their overweight rating on shares of First Watch Restaurant Group (NASDAQ:FWRG) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $24.00 target price on the stock.

Several other analysts have also weighed in on FWRG. Benchmark reiterated a “buy” rating on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Bank of America increased their price objective on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 12th. Sanford C. Bernstein set a $21.00 price objective on shares of First Watch Restaurant Group in a report on Tuesday, March 11th. TD Securities reissued a “hold” rating and set a $21.00 target price on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Finally, Barclays reissued an “overweight” rating and set a $21.00 target price (down previously from $24.00) on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, First Watch Restaurant Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.27.

First Watch Restaurant Group Trading Down 3.0 %

Shares of FWRG stock opened at $16.34 on Thursday. The firm’s 50 day moving average price is $19.48 and its two-hundred day moving average price is $18.12. First Watch Restaurant Group has a fifty-two week low of $12.90 and a fifty-two week high of $25.98. 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 stock has a market cap of $991.84 million, a price-to-earnings ratio of 49.52, a price-to-earnings-growth ratio of 3.38 and a beta of 0.91.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its earnings results on Tuesday, March 11th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The firm had revenue of $263.30 million for the quarter, compared to analyst estimates of $262.82 million. During the same period in the previous year, the firm posted $0.04 earnings per share. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, analysts anticipate that First Watch Restaurant Group will post 0.32 EPS for the current year.

Insider Activity at First Watch Restaurant Group

In related news, insider Jay Anthony Wolszczak sold 5,743 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total value of $96,539.83. Following the completion of the sale, the insider now owns 37,768 shares of the company’s stock, valued at approximately $634,880.08. The trade was a 13.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $706,675.59. Following the completion of the sale, the chief executive officer now directly owns 389,832 shares of the company’s stock, valued at approximately $6,553,075.92. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On First Watch Restaurant Group

Several large investors have recently made changes to their positions in the company. Assetmark Inc. boosted its position in First Watch Restaurant Group by 68.7% during the fourth quarter. Assetmark Inc. now owns 2,455 shares of the company’s stock worth $46,000 after purchasing an additional 1,000 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of First Watch Restaurant Group in the fourth quarter valued at $51,000. State of Wyoming raised its stake in First Watch Restaurant Group by 212.6% during the fourth quarter. State of Wyoming now owns 3,214 shares of the company’s stock worth $60,000 after acquiring an additional 2,186 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in First Watch Restaurant Group during the fourth quarter worth $81,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of First Watch Restaurant Group in the fourth quarter valued at $86,000. Institutional investors 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.