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

First Watch Restaurant Group logo with Retail/Wholesale background

First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Get Free Report) has received an average rating of "Moderate Buy" from the ten research firms that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $23.30.

A number of analysts have issued reports on the company. Stephens raised their target price on First Watch Restaurant Group from $20.00 to $25.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Barclays increased their target price on First Watch Restaurant Group from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Raymond James upped their price target on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the company a "strong-buy" rating in a report on Friday, November 8th. TD Cowen raised their price objective on First Watch Restaurant Group from $18.00 to $21.00 and gave the company a "hold" rating in a research report on Friday, November 8th. Finally, Piper Sandler lifted their target price on First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Monday, November 11th.

Read Our Latest Analysis on First Watch Restaurant Group

First Watch Restaurant Group Price Performance

NASDAQ:FWRG traded down $0.68 on Monday, hitting $18.44. The company had a trading volume of 61,495 shares, compared to its average volume of 401,974. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $1.12 billion, a price-to-earnings ratio of 55.88, a PEG ratio of 5.68 and a beta of 0.89. First Watch Restaurant Group has a 52 week low of $12.90 and a 52 week high of $25.98. The firm has a 50 day moving average of $18.97 and a two-hundred day moving average of $16.96.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The company had revenue of $251.61 million for the quarter, compared to analyst estimates of $256.17 million. During the same period last year, the business earned $0.09 EPS. The business's quarterly revenue was up 14.8% compared to the same quarter last year. On average, research analysts anticipate that First Watch Restaurant Group will post 0.31 earnings per share for the current year.

Insider Activity at First Watch Restaurant Group

In other First Watch Restaurant Group news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the firm's 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 owns 19,189,784 shares of the company's stock, valued at approximately $379,190,131.84. This trade represents a 29.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.00% of the stock is currently owned by insiders.

Institutional Trading of First Watch Restaurant Group

Institutional investors have recently made changes to their positions in the stock. Diversified Trust Co boosted its position in First Watch Restaurant Group by 84.5% in the 4th quarter. Diversified Trust Co now owns 29,051 shares of the company's stock valued at $541,000 after buying an additional 13,301 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of First Watch Restaurant Group by 22.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company's stock worth $30,988,000 after purchasing an additional 366,227 shares in the last quarter. Franklin Resources Inc. increased its stake in First Watch Restaurant Group by 14.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,114,974 shares of the company's stock worth $16,022,000 after purchasing an additional 136,871 shares in the last quarter. Geode Capital Management LLC boosted its stake in First Watch Restaurant Group by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 769,608 shares of the company's stock worth $12,008,000 after purchasing an additional 91,416 shares during the period. Finally, M&T Bank Corp acquired a new position in First Watch Restaurant Group during the third quarter valued at $514,000. 96.11% of the stock is owned by hedge funds and other institutional investors.

First Watch Restaurant Group Company Profile

(Get Free Report

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.

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