First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Given Consensus Recommendation of “Moderate Buy” by Analysts

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has been given an average recommendation of “Moderate Buy” by the nine analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $22.00.

FWRG has been the topic of a number of research analyst reports. TD Cowen reaffirmed a “hold” rating and issued a $18.00 target price on shares of First Watch Restaurant Group in a report on Thursday, September 12th. Barclays dropped their price objective on First Watch Restaurant Group from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Guggenheim decreased their target price on First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Benchmark reissued a “buy” rating and issued a $23.00 target price on shares of First Watch Restaurant Group in a report on Wednesday, October 16th. Finally, Bank of America reduced their price target on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th.

First Watch Restaurant Group Stock Performance

NASDAQ:FWRG opened at $17.49 on Wednesday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 44.85, a PEG ratio of 4.70 and a beta of 0.85. 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 debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.57. The stock has a fifty day moving average price of $15.71 and a 200-day moving average price of $17.42.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $258.60 million during the quarter, compared to analysts’ expectations of $257.65 million. First Watch Restaurant Group had a net margin of 2.51% and a return on equity of 4.24%. First Watch Restaurant Group’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.13 earnings per share. As a group, equities analysts anticipate that First Watch Restaurant Group will post 0.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FWRG. Rocky Mountain Advisers LLC increased its position in First Watch Restaurant Group by 180.1% in the 3rd 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 period. Quent Capital LLC acquired a new stake in First Watch Restaurant Group in the first quarter valued at $172,000. SG Americas Securities LLC bought a new position in First Watch Restaurant Group during the 3rd quarter worth $119,000. Janus Henderson Group PLC bought a new position in First Watch Restaurant Group during the 1st quarter worth $226,000. Finally, Versor Investments LP acquired a new position in First Watch Restaurant Group during the 3rd quarter worth about $201,000. 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.