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

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has been assigned an average rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $26.00.

Several equities research analysts have commented on the stock. TD Cowen reaffirmed a “hold” rating and issued a $26.00 target price on shares of First Watch Restaurant Group in a research note on Wednesday, April 10th. Barclays raised their price objective on shares of First Watch Restaurant Group from $23.00 to $29.00 and gave the stock an “overweight” rating in a report on Wednesday, March 6th. Citigroup raised their price objective on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Raymond James raised their price objective on shares of First Watch Restaurant Group from $23.00 to $25.00 and gave the stock a “strong-buy” rating in a report on Thursday, January 25th. Finally, Stifel Nicolaus raised their price objective on shares of First Watch Restaurant Group from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th.

First Watch Restaurant Group Stock Down 14.4 %

Shares of NASDAQ:FWRG opened at $21.51 on Wednesday. First Watch Restaurant Group has a 52 week low of $15.67 and a 52 week high of $25.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 0.62. The company has a market capitalization of $1.30 billion, a PE ratio of 52.46, a PEG ratio of 2.35 and a beta of 1.07. The company has a 50 day moving average price of $24.00 and a two-hundred day moving average price of $21.23.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results on Tuesday, March 5th. The company reported $0.04 EPS for the quarter, meeting the consensus estimate of $0.04. First Watch Restaurant Group had a net margin of 2.85% and a return on equity of 4.62%. The firm had revenue of $244.60 million during the quarter, compared to the consensus estimate of $237.20 million. During the same quarter in the prior year, the firm earned ($0.01) earnings per share. The business’s quarterly revenue was up 31.7% on a year-over-year basis. Analysts forecast that First Watch Restaurant Group will post 0.45 earnings per share for the current year.

Insider Buying and Selling at First Watch Restaurant Group

In other First Watch Restaurant Group news, CEO Christopher Anthony Tomasso sold 121,995 shares of First Watch Restaurant Group stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $24.45, for a total value of $2,982,777.75. Following the sale, the chief executive officer now directly owns 431,871 shares in the company, valued at approximately $10,559,245.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Eric Richard Hartman sold 1,474 shares of First Watch Restaurant Group stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $25.03, for a total value of $36,894.22. Following the completion of the transaction, the insider now owns 51,417 shares of the company’s stock, valued at approximately $1,286,967.51. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Anthony Tomasso sold 121,995 shares of First Watch Restaurant Group stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $24.45, for a total transaction of $2,982,777.75. Following the sale, the chief executive officer now directly owns 431,871 shares of the company’s stock, valued at approximately $10,559,245.95. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,085,127 shares of company stock worth $170,038,222. Insiders own 5.00% of the company’s stock.

Institutional Trading of First Watch Restaurant Group

Several hedge funds and other institutional investors have recently modified their holdings of FWRG. WCM Investment Management LLC bought a new stake in shares of First Watch Restaurant Group during the 1st quarter worth about $16,030,000. Lord Abbett & CO. LLC boosted its holdings in First Watch Restaurant Group by 433.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 668,159 shares of the company’s stock valued at $11,552,000 after purchasing an additional 542,800 shares during the period. Invesco Ltd. bought a new stake in First Watch Restaurant Group in the 3rd quarter valued at about $8,940,000. Foxhaven Asset Management LP boosted its holdings in First Watch Restaurant Group by 44.3% in the 4th quarter. Foxhaven Asset Management LP now owns 1,046,362 shares of the company’s stock valued at $21,032,000 after purchasing an additional 321,375 shares during the period. Finally, Deepwater Asset Management LLC boosted its holdings in First Watch Restaurant Group by 275.3% in the 1st quarter. Deepwater Asset Management LLC now owns 412,884 shares of the company’s stock valued at $10,165,000 after purchasing an additional 302,878 shares during the period. Institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Company Profile

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.