Brokerages Set First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Target Price at $19.00

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has received a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $18.7778.

A number of research firms recently commented on FWRG. Weiss Ratings cut shares of First Watch Restaurant Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded First Watch Restaurant Group from a “sell” rating to a “strong sell” rating in a report on Saturday. TD Cowen reaffirmed a “buy” rating and set a $17.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, June 3rd. Stifel Nicolaus set a $14.00 price objective on First Watch Restaurant Group in a report on Tuesday, May 5th. Finally, DA Davidson reiterated a “buy” rating and issued a $17.00 price objective on shares of First Watch Restaurant Group in a research report on Tuesday, April 28th.

First Watch Restaurant Group Stock Performance

Shares of NASDAQ:FWRG opened at $12.45 on Friday. The firm’s 50 day simple moving average is $11.71 and its 200 day simple moving average is $13.09. First Watch Restaurant Group has a fifty-two week low of $9.97 and a fifty-two week high of $19.53. The company has a market capitalization of $767.54 million, a price-to-earnings ratio of 44.47, a P/E/G ratio of 6.55 and a beta of 1.03. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.25.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The firm had revenue of $330.96 million for the quarter, compared to analyst estimates of $329.35 million. First Watch Restaurant Group had a net margin of 1.38% and a return on equity of 2.85%. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. As a group, sell-side analysts forecast that First Watch Restaurant Group will post 0.19 earnings per share for the current year.

Institutional Trading of First Watch Restaurant Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc raised its holdings in First Watch Restaurant Group by 1.6% during the second quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock worth $730,000 after acquiring an additional 724 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of First Watch Restaurant Group by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 46,092 shares of the company’s stock valued at $695,000 after buying an additional 832 shares during the last quarter. Diversified Trust Co lifted its holdings in First Watch Restaurant Group by 4.7% during the 1st quarter. Diversified Trust Co now owns 25,654 shares of the company’s stock valued at $269,000 after purchasing an additional 1,154 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in shares of First Watch Restaurant Group by 0.5% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 310,837 shares of the company’s stock worth $3,258,000 after buying an additional 1,450 shares during the period. Finally, Intech Investment Management LLC grew its stake in First Watch Restaurant Group by 11.1% in the 4th quarter. Intech Investment Management LLC now owns 16,041 shares of the company’s stock valued at $242,000 after buying an additional 1,606 shares during the last quarter. Institutional investors and hedge funds 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.