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

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) have received a consensus rating of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $20.9091.

A number of equities analysts have weighed in on FWRG shares. Zacks Research upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Barclays cut their target price on First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of First Watch Restaurant Group in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th.

First Watch Restaurant Group Trading Down 2.2%

Shares of FWRG stock opened at $15.37 on Tuesday. The firm’s 50-day simple moving average is $16.21 and its 200-day simple moving average is $16.92. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.25 and a quick ratio of 0.21. First Watch Restaurant Group has a 1-year low of $12.90 and a 1-year high of $22.71. The firm has a market cap of $938.03 million, a P/E ratio of 192.15, a PEG ratio of 2.80 and a beta of 0.88.

Insider Activity

In related news, Director William A. Kussell sold 6,165 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $17.00, for a total value of $104,805.00. Following the transaction, the director owned 26,402 shares in the company, valued at approximately $448,834. This trade represents a 18.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On First Watch Restaurant Group

A number of hedge funds have recently made changes to their positions in FWRG. Jones Financial Companies Lllp purchased a new stake in First Watch Restaurant Group during the 3rd quarter worth $30,000. First Horizon Advisors Inc. lifted its stake in shares of First Watch Restaurant Group by 207.6% during the second quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock worth $31,000 after purchasing an additional 1,316 shares in the last quarter. State of Wyoming purchased a new stake in shares of First Watch Restaurant Group in the fourth quarter worth about $64,000. BNP Paribas Financial Markets boosted its position in shares of First Watch Restaurant Group by 61.9% in the second quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock worth $70,000 after buying an additional 1,673 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of First Watch Restaurant Group by 17,042.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,657 shares of the company’s stock valued at $85,000 after buying an additional 5,624 shares in the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

About First Watch Restaurant Group

First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.