First Watch Restaurant Group (NASDAQ:FWRG) Issues Earnings Results

First Watch Restaurant Group (NASDAQ:FWRGGet Rating) released its earnings results on Tuesday. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04, MarketWatch Earnings reports. First Watch Restaurant Group updated its FY 2022 guidance to EPS.

Shares of First Watch Restaurant Group stock traded up $0.15 during trading on Wednesday, reaching $13.58. The company’s stock had a trading volume of 3,173 shares, compared to its average volume of 181,114. First Watch Restaurant Group has a 52-week low of $11.57 and a 52-week high of $25.46. The firm has a 50-day simple moving average of $12.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.66 and a current ratio of 0.70.

Several analysts have recently issued reports on the stock. Jefferies Financial Group lowered their price target on shares of First Watch Restaurant Group from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, March 22nd. Zacks Investment Research lowered shares of First Watch Restaurant Group from a “buy” rating to a “hold” rating in a research report on Tuesday, March 15th. The Goldman Sachs Group lowered their price target on shares of First Watch Restaurant Group from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, March 24th. Barclays lowered their price target on shares of First Watch Restaurant Group from $18.00 to $16.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Finally, Citigroup assumed coverage on shares of First Watch Restaurant Group in a research report on Tuesday, April 12th. They issued a “buy” rating and a $17.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $22.00.

Institutional investors and hedge funds have recently made changes to their positions in the business. Citigroup Inc. purchased a new stake in First Watch Restaurant Group during the 4th quarter valued at $57,000. California State Teachers Retirement System purchased a new stake in First Watch Restaurant Group during the 4th quarter valued at $102,000. Deutsche Bank AG purchased a new stake in First Watch Restaurant Group during the 4th quarter valued at $112,000. Wells Fargo & Company MN purchased a new stake in First Watch Restaurant Group during the 4th quarter valued at $123,000. Finally, State of Tennessee Treasury Department purchased a new stake in First Watch Restaurant Group during the 4th quarter valued at $201,000. 97.41% of the stock is owned by institutional investors and hedge funds.

About First Watch Restaurant Group (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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