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

First Watch Restaurant Group (NASDAQ:FWRG) had its target price upped by Piper Sandler from $22.00 to $23.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the stock. TD Cowen lifted their target price on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, November 8th. 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 report on Friday, November 8th. Bank of America cut their target price on First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Benchmark reiterated a “buy” rating and set a $23.00 price target on shares of First Watch Restaurant Group in a research note on Wednesday, October 16th. Finally, Stephens raised their price objective on First Watch Restaurant Group from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, First Watch Restaurant Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

First Watch Restaurant Group Trading Down 0.7 %

First Watch Restaurant Group stock opened at $19.41 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. First Watch Restaurant Group has a 12 month low of $12.90 and a 12 month high of $25.98. The company’s fifty day simple moving average is $16.16 and its 200-day simple moving average is $17.30. The stock has a market cap of $1.18 billion, a P/E ratio of 58.82, a P/E/G ratio of 5.74 and a beta of 0.85.

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

Hedge Funds Weigh In On First Watch Restaurant Group

A number of institutional investors and hedge funds have recently bought and sold shares of FWRG. Rocky Mountain Advisers LLC grew 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 worth $103,000 after purchasing an additional 4,250 shares during the last quarter. Quent Capital LLC bought a new position in First Watch Restaurant Group during the first quarter valued at about $172,000. SG Americas Securities LLC acquired a new position in First Watch Restaurant Group in the 3rd quarter valued at approximately $119,000. Janus Henderson Group PLC bought a new stake in shares of First Watch Restaurant Group in the 1st quarter worth approximately $226,000. Finally, Versor Investments LP acquired a new stake in shares of First Watch Restaurant Group during the 3rd quarter worth approximately $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.