First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Given Average Recommendation of "Moderate Buy" by Brokerages

First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the ten ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.30.

A number of research firms recently weighed in on FWRG. TD Cowen lifted their target price on First Watch Restaurant Group from $18.00 to $21.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. Benchmark reaffirmed a "buy" rating and issued a $23.00 price target on shares of First Watch Restaurant Group in a research note on Wednesday, October 16th. Piper Sandler increased their price target on First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. Raymond James increased their price objective on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a "strong-buy" rating in a report on Friday, November 8th. Finally, Guggenheim lowered their target price on First Watch Restaurant Group from $24.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, October 4th.

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 that occurred on Wednesday, November 13th. The stock was sold at an average price of $19.76, for a total value 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 trade represents a 29.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.00% of the stock is owned by insiders.

Hedge Funds Weigh In On First Watch Restaurant Group

Several large investors have recently modified their holdings of the stock. Jane Street Group LLC boosted its stake in First Watch Restaurant Group by 1.1% in the 3rd quarter. Jane Street Group LLC now owns 49,358 shares of the company's stock valued at $770,000 after purchasing an additional 551 shares during the period. Diversified Trust Co grew its stake in shares of First Watch Restaurant Group by 9.8% in the third quarter. Diversified Trust Co now owns 15,750 shares of the company's stock valued at $246,000 after acquiring an additional 1,400 shares in the last quarter. Sei Investments Co. boosted its holdings in First Watch Restaurant Group by 6.5% in the 1st quarter. Sei Investments Co. now owns 29,162 shares of the company's stock valued at $718,000 after purchasing an additional 1,783 shares during the period. iA Global Asset Management Inc. grew its position in shares of First Watch Restaurant Group by 10.9% during the 2nd quarter. iA Global Asset Management Inc. now owns 19,898 shares of the company's stock worth $349,000 after purchasing an additional 1,948 shares in the last quarter. Finally, Quent Capital LLC raised its position in shares of First Watch Restaurant Group by 28.6% in the second quarter. Quent Capital LLC now owns 9,000 shares of the company's stock valued at $158,000 after buying an additional 2,000 shares in the last quarter. 96.11% of the stock is owned by institutional investors.

First Watch Restaurant Group Stock Performance

Shares of NASDAQ:FWRG traded up $0.49 during midday trading on Friday, hitting $18.24. The company's stock had a trading volume of 938,429 shares, compared to its average volume of 1,040,416. 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 stock's 50 day simple moving average is $16.51 and its 200 day simple moving average is $16.94. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 55.27, a PEG ratio of 5.21 and a beta of 0.85. First Watch Restaurant Group has a fifty-two week low of $12.90 and a fifty-two week high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $251.61 million for the quarter, compared to analyst estimates 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 earnings per share. As a group, research analysts anticipate that First Watch Restaurant Group will post 0.31 earnings per share for the current year.

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.