First Watch Restaurant Group (NASDAQ:FWRG) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01), Zacks reports. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%.

First Watch Restaurant Group Stock Performance

Shares of FWRG opened at $18.10 on Tuesday. The stock has a 50-day simple moving average of $19.95 and a 200-day simple moving average of $18.14. 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 has a market capitalization of $1.10 billion, a PE ratio of 54.85, a PEG ratio of 3.38 and a beta of 0.90. First Watch Restaurant Group has a 1 year low of $12.90 and a 1 year high of $25.98.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FWRG shares. Stephens reiterated an "overweight" rating and issued a $25.00 price target on shares of First Watch Restaurant Group in a report on Tuesday, January 28th. Piper Sandler upped their price objective 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. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, First Watch Restaurant Group has a consensus rating of "Moderate Buy" and a consensus price target of $22.33.

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.

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