First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives $18.56 Average PT from Brokerages

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) have been assigned a consensus rating of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $18.5556.

A number of equities research analysts recently commented on FWRG shares. Stephens reiterated an “overweight” rating and issued a $21.00 price objective on shares of First Watch Restaurant Group in a report on Wednesday, May 6th. DA Davidson restated a “buy” rating and set a $17.00 target price on shares of First Watch Restaurant Group in a report on Tuesday, April 28th. Stifel Nicolaus set a $14.00 target price on First Watch Restaurant Group in a research report on Tuesday, May 5th. Wall Street Zen raised First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Citigroup lowered their price target on First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th.

First Watch Restaurant Group Price Performance

FWRG opened at $12.97 on Tuesday. The company has a fifty day moving average price of $12.25 and a two-hundred day moving average price of $12.62. The firm has a market capitalization of $800.38 million, a PE ratio of 44.73, a P/E/G ratio of 21.08 and a beta of 1.03. First Watch Restaurant Group has a 52 week low of $9.97 and a 52 week high of $19.53. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.22 and a current ratio of 0.27.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). First Watch Restaurant Group had a net margin of 1.35% and a return on equity of 2.85%. The company had revenue of $354.67 million during the quarter, compared to analyst estimates of $351.57 million. During the same period last year, the company earned $0.03 EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, analysts anticipate that First Watch Restaurant Group will post 0.15 earnings per share for the current year.

Institutional Investors Weigh In On First Watch Restaurant Group

Large investors have recently bought and sold shares of the company. Legal & General Group Plc raised its holdings in First Watch Restaurant Group by 1.6% in the second quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock worth $730,000 after purchasing an additional 724 shares during the period. California State Teachers Retirement System grew its holdings in shares of First Watch Restaurant Group by 1.8% in the 4th 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 period. Diversified Trust Co grew its holdings in shares of First Watch Restaurant Group by 4.7% in the 1st quarter. Diversified Trust Co now owns 25,654 shares of the company’s stock valued at $269,000 after buying an additional 1,154 shares during the period. Kornitzer Capital Management Inc. KS increased its position in shares of First Watch Restaurant Group by 0.5% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 310,837 shares of the company’s stock valued at $3,258,000 after buying an additional 1,450 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of 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 in the last quarter. 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.