First Watch Restaurant Group (NASDAQ:FWRG) Stock Price Expected to Rise, Barclays Analyst Says

First Watch Restaurant Group (NASDAQ:FWRG) had its price objective increased by analysts at Barclays from $18.00 to $22.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 4.41% from the stock’s current price.

Several other equities research analysts also recently commented on the company. Guggenheim reduced their price objective on 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 restated a “hold” rating and set a $18.00 price objective on shares of First Watch Restaurant Group in a research report on Thursday, September 12th. Stephens upped their price target on First Watch Restaurant Group from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday. Benchmark reiterated a “buy” rating and issued a $23.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Finally, Bank of America decreased their target price on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.33.

First Watch Restaurant Group Trading Up 1.2 %

Shares of NASDAQ:FWRG traded up $0.24 on Friday, reaching $21.07. 927,416 shares of the company traded hands, compared to its average volume of 554,420. The stock has a market capitalization of $1.27 billion, a P/E ratio of 54.03, a price-to-earnings-growth ratio of 5.09 and a beta of 0.85. First Watch Restaurant Group has a 52 week low of $12.90 and a 52 week high of $25.98. 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 business’s 50-day simple moving average is $15.91 and its 200 day simple moving average is $17.37.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings results 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 4.24% and a net margin of 2.51%. The business had revenue of $251.61 million during the quarter, compared to analysts’ expectations of $256.17 million. During the same period in the previous year, the business earned $0.09 EPS. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts anticipate that First Watch Restaurant Group will post 0.33 EPS for the current fiscal year.

Institutional Trading of First Watch Restaurant Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Rocky Mountain Advisers LLC lifted its stake in First Watch Restaurant Group by 180.1% in the third quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock valued at $103,000 after acquiring an additional 4,250 shares during the last quarter. SG Americas Securities LLC bought a new position in First Watch Restaurant Group in the third quarter valued at approximately $119,000. Quent Capital LLC boosted its holdings 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 worth $158,000 after acquiring an additional 2,000 shares during the period. Versor Investments LP bought a new position in shares of First Watch Restaurant Group in the third quarter worth $201,000. Finally, Commerce Bank bought a new position in First Watch Restaurant Group in the third quarter valued at about $208,000. 96.11% of the stock is owned by institutional investors.

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.