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

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) have been assigned an average rating of “Buy” from the ten analysts that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $21.0909.

FWRG has been the topic of several research analyst reports. Benchmark lifted their price objective on First Watch Restaurant Group from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 6th. Stifel Nicolaus set a $17.00 price objective on First Watch Restaurant Group in a report on Wednesday, May 7th. Raymond James Financial boosted their target price on First Watch Restaurant Group from $21.00 to $22.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 17th. Bank of America lowered their target price on First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating on the stock in a report on Friday, July 18th. Finally, Piper Sandler lowered their target price on First Watch Restaurant Group from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th.

First Watch Restaurant Group Trading Up 2.5%

FWRG stock opened at $19.09 on Tuesday. The company has a current ratio of 0.27, a quick ratio of 0.23 and a debt-to-equity ratio of 0.42. First Watch Restaurant Group has a 12-month low of $12.90 and a 12-month high of $22.71. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 318.22, a PEG ratio of 6.63 and a beta of 0.91. The business’s 50-day moving average is $17.15 and its 200 day moving average is $17.51.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.04). First Watch Restaurant Group had a return on equity of 0.69% and a net margin of 0.37%.The firm had revenue of $307.89 million during the quarter, compared to analyst estimates of $304.94 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company’s quarterly revenue was up 19.1% on a year-over-year basis. First Watch Restaurant Group has set its FY 2025 guidance at EPS. On average, sell-side analysts anticipate that First Watch Restaurant Group will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling at First Watch Restaurant Group

In other news, major shareholder International L.P. Advent sold 5,000,000 shares of the business’s stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $17.70, for a total transaction of $88,500,000.00. Following the transaction, the insider directly owned 9,689,784 shares in the company, valued at $171,509,176.80. The trade was a 34.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in First Watch Restaurant Group by 435.5% during the second quarter. Tower Research Capital LLC TRC now owns 7,277 shares of the company’s stock worth $117,000 after acquiring an additional 5,918 shares during the last quarter. Captrust Financial Advisors acquired a new stake in shares of First Watch Restaurant Group during the 2nd quarter worth about $545,000. Manatuck Hill Partners LLC acquired a new stake in shares of First Watch Restaurant Group during the 2nd quarter worth about $3,208,000. Lazard Asset Management LLC increased its position in shares of First Watch Restaurant Group by 13.4% during the 2nd quarter. Lazard Asset Management LLC now owns 2,281,137 shares of the company’s stock worth $36,589,000 after purchasing an additional 269,726 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of First Watch Restaurant Group during the 2nd quarter worth about $379,000. 96.11% of the stock is currently owned by institutional investors and hedge funds.

About First Watch Restaurant Group

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.