First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives $24.83 Consensus PT from Analysts

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $24.17.

Several equities analysts recently commented on the stock. Barclays reduced their target price on shares of First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. Citigroup lifted their price objective on First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. TD Cowen reduced their price target on First Watch Restaurant Group from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Thursday, June 13th. Finally, Stifel Nicolaus decreased their price target on First Watch Restaurant Group from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday.

First Watch Restaurant Group Price Performance

FWRG opened at $16.07 on Thursday. The stock has a market capitalization of $970.19 million, a P/E ratio of 42.29, a PEG ratio of 2.25 and a beta of 0.88. The company has a current ratio of 0.60, a quick ratio of 0.55 and a debt-to-equity ratio of 0.21. First Watch Restaurant Group has a 12-month low of $15.90 and a 12-month high of $25.98. The stock has a 50-day moving average price of $19.82 and a 200-day moving average price of $21.50.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.02. First Watch Restaurant Group had a return on equity of 4.15% and a net margin of 2.52%. The business had revenue of $242.40 million during the quarter, compared to analyst estimates of $245.03 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. First Watch Restaurant Group’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities analysts predict that First Watch Restaurant Group will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at First Watch Restaurant Group

In other news, Director William A. Kussell sold 8,386 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $22.10, for a total transaction of $185,330.60. Following the transaction, the director now directly owns 12,409 shares of the company’s stock, valued at $274,238.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 5.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Watch Restaurant Group

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in First Watch Restaurant Group by 18.8% in the first quarter. Vanguard Group Inc. now owns 1,611,452 shares of the company’s stock worth $39,674,000 after buying an additional 255,307 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of First Watch Restaurant Group by 0.4% during the fourth quarter. Brown Advisory Inc. now owns 1,478,407 shares of the company’s stock valued at $29,716,000 after purchasing an additional 6,494 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in First Watch Restaurant Group by 14.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,408,454 shares of the company’s stock worth $28,310,000 after purchasing an additional 175,074 shares during the period. Gilder Gagnon Howe & Co. LLC raised its holdings in First Watch Restaurant Group by 9.6% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,074,612 shares of the company’s stock worth $21,600,000 after purchasing an additional 93,931 shares in the last quarter. Finally, Foxhaven Asset Management LP lifted its position in First Watch Restaurant Group by 44.3% during the fourth quarter. Foxhaven Asset Management LP now owns 1,046,362 shares of the company’s stock valued at $21,032,000 after buying an additional 321,375 shares during the period. Institutional investors own 96.11% of the company’s stock.

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.