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

First Watch Restaurant Group, Inc. (NASDAQ:FWRGGet Rating) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $22.80.

Several equities analysts have recently commented on the stock. Barclays boosted their target price on shares of First Watch Restaurant Group from $16.00 to $19.00 and gave the company an “overweight” rating in a research report on Thursday, June 9th. Citigroup started 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 target price for the company.

Insider Activity

In other news, CFO H Melville Hope III purchased 2,000 shares of the business’s stock in a transaction dated Wednesday, May 18th. The shares were purchased at an average cost of $13.84 per share, with a total value of $27,680.00. Following the completion of the purchase, the chief financial officer now owns 3,000 shares of the company’s stock, valued at approximately $41,520. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On First Watch Restaurant Group

A number of institutional investors have recently made changes to their positions in FWRG. Strs Ohio bought a new stake in shares of First Watch Restaurant Group in the 4th quarter valued at about $41,000. Brown Advisory Inc. bought a new stake in shares of First Watch Restaurant Group in the 4th quarter valued at about $18,531,000. Kornitzer Capital Management Inc. KS acquired a new stake in First Watch Restaurant Group during the 4th quarter worth about $11,732,000. New York State Common Retirement Fund acquired a new stake in First Watch Restaurant Group during the 4th quarter worth about $606,000. Finally, Wesbanco Bank Inc. acquired a new stake in First Watch Restaurant Group during the 4th quarter worth about $566,000. Institutional investors own 97.41% of the company’s stock.

First Watch Restaurant Group Trading Up 4.6 %

FWRG stock opened at $15.38 on Thursday. First Watch Restaurant Group has a 52 week low of $11.57 and a 52 week high of $25.46. The business has a 50-day simple moving average of $14.63 and a 200 day simple moving average of $14.02. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 0.19.

First Watch Restaurant Group (NASDAQ:FWRGGet Rating) last issued its earnings results on Tuesday, May 10th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.04 by $0.04. The firm had revenue of $173.11 million during the quarter, compared to analyst estimates of $167.93 million. Equities research analysts predict that First Watch Restaurant Group will post 0.16 EPS for the current fiscal year.

About First Watch Restaurant Group

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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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Analyst Recommendations for First Watch Restaurant Group (NASDAQ:FWRG)

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