First Watch Restaurant Group (NASDAQ:FWRG) Given New $24.00 Price Target at Barclays

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) had its price target upped by equities research analysts at Barclays from $21.00 to $24.00 in a research report issued on Tuesday, Marketbeat Ratings reports. The firm currently has an "overweight" rating on the stock. Barclays's price target would suggest a potential upside of 23.71% from the stock's previous close.

Several other research analysts have also recently issued reports on FWRG. Benchmark restated a "buy" rating on shares of First Watch Restaurant Group in a report on Wednesday, March 12th. Bank of America raised their price target on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, March 12th. Stephens reaffirmed an "overweight" rating and set a $24.00 price objective on shares of First Watch Restaurant Group in a research note on Thursday, March 20th. TD Securities raised First Watch Restaurant Group from a "hold" rating to a "buy" rating and raised their target price for the stock from $21.00 to $22.00 in a research note on Tuesday, April 1st. Finally, Sanford C. Bernstein set a $21.00 price target on First Watch Restaurant Group in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $22.73.

First Watch Restaurant Group Trading Up 0.2 %

NASDAQ:FWRG traded up $0.03 during trading hours on Tuesday, reaching $19.40. The company's stock had a trading volume of 927,345 shares, compared to its average volume of 683,912. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.54. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 58.79, a PEG ratio of 3.38 and a beta of 1.02. The firm has a 50-day simple moving average of $18.27 and a 200-day simple moving average of $18.62. First Watch Restaurant Group has a 1 year low of $12.90 and a 1 year high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $263.30 million during the quarter, compared to analysts' expectations of $262.82 million. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. During the same quarter in the prior year, the firm posted $0.04 EPS. The firm's quarterly revenue was up 7.6% on a year-over-year basis. Research analysts expect that First Watch Restaurant Group will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Christopher Anthony Tomasso sold 42,039 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $706,675.59. Following the sale, the chief executive officer now directly owns 389,832 shares of the company's stock, valued at approximately $6,553,075.92. This represents a 9.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jay Anthony Wolszczak sold 5,743 shares of First Watch Restaurant Group stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $96,539.83. Following the completion of the transaction, the insider now directly owns 37,768 shares of the company's stock, valued at $634,880.08. This trade represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company's stock.

Institutional Investors Weigh In On First Watch Restaurant Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Assetmark Inc. increased its holdings in shares of First Watch Restaurant Group by 68.7% in the 4th quarter. Assetmark Inc. now owns 2,455 shares of the company's stock worth $46,000 after purchasing an additional 1,000 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of First Watch Restaurant Group during the fourth quarter valued at $51,000. State of Wyoming increased its holdings in First Watch Restaurant Group by 212.6% in the 4th quarter. State of Wyoming now owns 3,214 shares of the company's stock worth $60,000 after buying an additional 2,186 shares in the last quarter. Venturi Wealth Management LLC bought a new position in First Watch Restaurant Group during the 4th quarter valued at about $81,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of First Watch Restaurant Group during the 4th quarter valued at about $86,000. Institutional investors own 96.11% of the company's stock.

First Watch Restaurant Group Company Profile

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.