First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives Average Recommendation of “Moderate Buy” from Brokerages

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has been assigned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $20.9091.

FWRG has been the topic of a number of research analyst reports. Weiss Ratings restated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. Barclays cut their target price on shares of 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. Zacks Research downgraded shares of First Watch Restaurant Group from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. 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.

Insider Activity at First Watch Restaurant Group

In other news, Director William A. Kussell sold 6,165 shares of the business’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $17.00, for a total transaction of $104,805.00. Following the sale, the director directly owned 26,402 shares in the company, valued at approximately $448,834. The trade was a 18.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On First Watch Restaurant Group

A number of institutional investors have recently added to or reduced their stakes in FWRG. Fifth Third Bancorp raised its stake in shares of First Watch Restaurant Group by 8,815.8% during the second quarter. Fifth Third Bancorp now owns 1,694 shares of the company’s stock valued at $27,000 after acquiring an additional 1,675 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in First Watch Restaurant Group in the third quarter valued at $30,000. First Horizon Advisors Inc. raised its position in First Watch Restaurant Group by 207.6% during the 2nd 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 during the last quarter. BNP Paribas Financial Markets lifted its holdings in First Watch Restaurant Group by 61.9% during the 2nd 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, Tower Research Capital LLC TRC grew its position in shares of First Watch Restaurant Group by 435.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,277 shares of the company’s stock valued at $117,000 after buying an additional 5,918 shares during the last quarter. 96.11% of the stock is owned by institutional investors.

First Watch Restaurant Group Trading Down 0.8%

Shares of FWRG opened at $16.03 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.21 and a current ratio of 0.25. First Watch Restaurant Group has a 52-week low of $12.90 and a 52-week high of $22.71. The firm has a market cap of $978.31 million, a price-to-earnings ratio of 200.40, a PEG ratio of 4.72 and a beta of 0.88. The business’s fifty day moving average is $16.49 and its 200-day moving average is $16.99.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.03). First Watch Restaurant Group had a net margin of 0.42% and a return on equity of 0.83%. The business had revenue of $316.02 million during the quarter, compared to analyst estimates of $308.31 million. Equities analysts anticipate that First Watch Restaurant Group will post 0.32 EPS for the current fiscal year.

First Watch Restaurant Group Company Profile

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.