Brokerages Set First Watch Restaurant Group, Inc. (NASDAQ:FWRG) PT at $23.30

First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Get Free Report) has received an average rating of "Moderate Buy" from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $23.30.

Several equities research analysts have recently weighed in on the company. Piper Sandler increased their price objective on First Watch Restaurant Group from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Monday, November 11th. Barclays increased their price target on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Stephens restated an "overweight" rating and set a $25.00 price objective on shares of First Watch Restaurant Group in a report on Tuesday, January 28th. TD Cowen increased their target price on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the company a "hold" rating in a research note on Friday, November 8th. Finally, Raymond James boosted their price target on First Watch Restaurant Group from $22.00 to $25.00 and gave the company a "strong-buy" rating in a research note on Friday, November 8th.

First Watch Restaurant Group Stock Performance

FWRG stock traded down $0.05 during mid-day trading on Friday, reaching $20.95. 235,630 shares of the stock traded hands, compared to its average volume of 466,486. The firm has a market capitalization of $1.27 billion, a PE ratio of 63.49, a P/E/G ratio of 3.50 and a beta of 0.91. The business has a 50-day moving average of $19.49 and a two-hundred day moving average of $17.55. First Watch Restaurant Group has a 52 week low of $12.90 and a 52 week high of $25.98. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $251.61 million for the quarter, compared to the consensus estimate of $256.17 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. First Watch Restaurant Group's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, equities analysts predict that First Watch Restaurant Group will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Watch Restaurant Group news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $19.76, for a total transaction of $158,080,000.00. Following the completion of the transaction, the insider now directly owns 19,189,784 shares in the company, valued at $379,190,131.84. This represents a 29.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 5.00% 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. lifted its holdings in First Watch Restaurant Group by 68.7% during the 4th quarter. Assetmark Inc. now owns 2,455 shares of the company's stock valued at $46,000 after purchasing an additional 1,000 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of First Watch Restaurant Group during the fourth quarter worth approximately $81,000. Rocky Mountain Advisers LLC raised its stake in shares of First Watch Restaurant Group by 180.1% in the third quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company's stock valued at $103,000 after acquiring an additional 4,250 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of First Watch Restaurant Group in the 3rd quarter worth approximately $119,000. Finally, XTX Topco Ltd bought a new stake in First Watch Restaurant Group during the 3rd quarter worth approximately $157,000. Institutional investors and hedge funds 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.