First Watch Restaurant Group (NASDAQ:FWRG) Receives "Hold" Rating from TD Securities

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report)'s stock had its "hold" rating reissued by investment analysts at TD Securities in a report issued on Wednesday,Benzinga reports. They currently have a $21.00 price objective on the stock. TD Securities' target price suggests a potential upside of 24.78% from the company's current price.

Separately, Stephens restated an "overweight" rating and set a $25.00 target price on shares of First Watch Restaurant Group in a report on Tuesday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, First Watch Restaurant Group currently has an average rating of "Moderate Buy" and a consensus target price of $22.20.

First Watch Restaurant Group Trading Down 7.0 %

Shares of FWRG stock opened at $16.83 on Wednesday. First Watch Restaurant Group has a 1 year low of $12.90 and a 1 year high of $25.98. 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 firm's fifty day simple moving average is $19.92 and its 200 day simple moving average is $18.14. The firm has a market capitalization of $1.02 billion, a P/E ratio of 51.00, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported $0.01 earnings per share 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 the consensus estimate of $262.82 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The company's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.04 earnings per share. As a group, sell-side analysts predict that First Watch Restaurant Group will post 0.32 EPS for the current year.

Hedge Funds Weigh In On First Watch Restaurant Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC grew its stake in First Watch Restaurant Group by 1.1% in the third quarter. Jane Street Group LLC now owns 49,358 shares of the company's stock valued at $770,000 after acquiring an additional 551 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in First Watch Restaurant Group by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,269 shares of the company's stock worth $321,000 after purchasing an additional 613 shares in the last quarter. Assetmark Inc. increased its stake in First Watch Restaurant Group by 68.7% during 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. Mariner LLC lifted its stake in First Watch Restaurant Group by 5.1% in the fourth quarter. Mariner LLC now owns 21,446 shares of the company's stock valued at $399,000 after buying an additional 1,033 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of First Watch Restaurant Group by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 78,621 shares of the company's stock valued at $1,463,000 after buying an additional 2,033 shares during the period. 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.

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