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

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG – Get Rating) have been given a consensus rating of “Moderate Buy” by the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.75.

FWRG has been the topic of a number of research analyst reports. TD Cowen reissued a “market perform” rating and set a $17.00 price objective on shares of First Watch Restaurant Group in a report on Wednesday, March 8th. Raymond James lowered their price target on First Watch Restaurant Group from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Wednesday, March 8th. Barclays lifted their price objective on First Watch Restaurant Group from $19.00 to $21.00 in a report on Wednesday, May 3rd. 3M reissued a “maintains” rating on shares of First Watch Restaurant Group in a report on Wednesday, May 3rd. Finally, Citigroup cut their price target on First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, March 8th.

Insider Buying and Selling

In other First Watch Restaurant Group news, Director David Paresky sold 4,025,000 shares of the company’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $15.47, for a total value of $62,266,750.00. Following the transaction, the director now directly owns 37,539,784 shares in the company, valued at approximately $580,740,458.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Watch Restaurant Group

Institutional investors have recently modified their holdings of the company. Raymond James & Associates lifted its stake in shares of First Watch Restaurant Group by 10.8% during the 1st quarter. Raymond James & Associates now owns 11,406 shares of the company’s stock worth $183,000 after purchasing an additional 1,111 shares during the period. Crossmark Global Holdings Inc. lifted its position in First Watch Restaurant Group by 7.3% during the fourth quarter. Crossmark Global Holdings Inc. now owns 17,183 shares of the company’s stock worth $232,000 after buying an additional 1,163 shares during the period. JPMorgan Chase & Co. boosted its stake in First Watch Restaurant Group by 6.0% in the 1st quarter. JPMorgan Chase & Co. now owns 21,373 shares of the company’s stock worth $279,000 after buying an additional 1,209 shares during the last quarter. Captrust Financial Advisors grew its holdings in First Watch Restaurant Group by 170.4% in the 2nd quarter. Captrust Financial Advisors now owns 2,028 shares of the company’s stock valued at $29,000 after buying an additional 1,278 shares during the period. Finally, Bessemer Group Inc. acquired a new position in shares of First Watch Restaurant Group during the 1st quarter valued at about $25,000. Institutional investors and hedge funds own 96.36% of the company’s stock.

First Watch Restaurant Group Stock Performance

Shares of FWRG stock opened at $17.55 on Wednesday. The company has a current ratio of 0.77, a quick ratio of 0.72 and a debt-to-equity ratio of 0.17. The stock has a 50 day simple moving average of $15.99 and a 200-day simple moving average of $15.51. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 92.37, a price-to-earnings-growth ratio of 1.93 and a beta of 1.08. First Watch Restaurant Group has a 12-month low of $12.45 and a 12-month high of $18.95.

First Watch Restaurant Group (NASDAQ:FWRG – Get Rating) last released its quarterly earnings data on Tuesday, March 7th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $185.75 million during the quarter, compared to analysts’ expectations of $186.63 million. First Watch Restaurant Group had a return on equity of 2.22% and a net margin of 1.51%. On average, equities analysts forecast that First Watch Restaurant Group will post 0.3 EPS for the current year.

First Watch Restaurant Group Company Profile

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First Watch Restaurant Group, Inc operates and franchises restaurants under the First Watch trade name. As of September 7, 2022, it operated 445 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.