First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Given Average Rating of “Buy” by Brokerages

First Watch Restaurant Group, Inc. (NASDAQ:FWRGGet Rating) has been assigned a consensus rating of “Buy” from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $22.70.

Several research analysts have issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of First Watch Restaurant Group from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, March 24th. Jefferies Financial Group dropped their target price on shares of First Watch Restaurant Group from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, March 22nd. Raymond James assumed coverage on shares of First Watch Restaurant Group in a report on Wednesday, January 12th. They set an “outperform” rating and a $24.00 target price on the stock. Cowen dropped their target price on shares of First Watch Restaurant Group from $22.00 to $15.00 and set a “market perform” rating on the stock in a report on Wednesday, March 23rd. Finally, Citigroup assumed coverage on shares of First Watch Restaurant Group in a report on Tuesday, April 12th. They set a “buy” rating and a $17.00 target price on the stock.

NASDAQ FWRG opened at $12.43 on Tuesday. The business has a 50-day moving average of $13.58. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20. First Watch Restaurant Group has a 12 month low of $11.57 and a 12 month high of $25.46.

First Watch Restaurant Group (NASDAQ:FWRGGet Rating) last posted its quarterly earnings results on Wednesday, March 23rd. The company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.01. The company had revenue of $162.62 million during the quarter, compared to the consensus estimate of $162.42 million. As a group, equities research analysts anticipate that First Watch Restaurant Group will post 0.17 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in FWRG. BlackRock Inc. purchased a new stake in shares of First Watch Restaurant Group during the fourth quarter valued at about $19,104,000. Brown Advisory Inc. purchased a new position in shares of First Watch Restaurant Group in the 4th quarter valued at approximately $18,531,000. Kornitzer Capital Management Inc. KS purchased a new position in shares of First Watch Restaurant Group in the 4th quarter valued at approximately $11,732,000. LGT Capital Partners LTD. purchased a new position in shares of First Watch Restaurant Group in the 4th quarter valued at approximately $5,455,000. Finally, Citadel Advisors LLC purchased a new position in shares of First Watch Restaurant Group in the 4th quarter valued at approximately $5,405,000. 4.54% of the stock is owned by institutional investors and hedge funds.

First Watch Restaurant Group Company Profile (Get Rating)

First Watch Restaurant Group, Inc operates and franchises restaurants under the First Watch trade name. As of March 23, 2022, it operated 341 company-owned restaurants and 94 franchised restaurants in 28 states 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.

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