Stephens Reaffirms "Overweight" Rating for First Watch Restaurant Group (NASDAQ:FWRG)

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report)'s stock had its "overweight" rating reaffirmed by stock analysts at Stephens in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $25.00 target price on the stock. Stephens' price target would suggest a potential upside of 19.10% from the stock's previous close.

FWRG has been the subject of a number of other reports. Piper Sandler lifted their price target 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. TD Cowen boosted their price objective on shares of 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 set a $23.00 price objective on shares of First Watch Restaurant Group in a report on Wednesday, October 16th. Raymond James upped their target price on First Watch Restaurant Group from $22.00 to $25.00 and gave the company a "strong-buy" rating in a research report on Friday, November 8th. Finally, Barclays lifted their price target on First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.30.

First Watch Restaurant Group Price Performance

FWRG traded down $0.22 on Tuesday, reaching $20.99. 200,516 shares of the company's stock were exchanged, compared to its average volume of 482,543. The stock has a market cap of $1.27 billion, a PE ratio of 63.87, a P/E/G ratio of 3.56 and a beta of 0.89. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. First Watch Restaurant Group has a twelve month low of $12.90 and a twelve month high of $25.98. The stock's fifty day moving average price is $19.15 and its 200-day moving average price is $17.25.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The business had revenue of $251.61 million during the quarter, compared to analyst estimates of $256.17 million. During the same quarter in the prior year, the company posted $0.09 earnings per share. The company's revenue was up 14.8% on a year-over-year basis. Sell-side analysts expect that First Watch Restaurant Group will post 0.32 EPS for the current year.

Insider Transactions at First Watch Restaurant Group

In other news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the firm's stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Atria Wealth Solutions Inc. raised its stake in First Watch Restaurant Group by 41.7% during the 4th quarter. Atria Wealth Solutions Inc. now owns 72,351 shares of the company's stock valued at $1,346,000 after acquiring an additional 21,276 shares in the last quarter. Venturi Wealth Management LLC acquired a new position in First Watch Restaurant Group during the fourth quarter worth about $81,000. White Pine Capital LLC acquired a new stake in First Watch Restaurant Group in the 4th quarter valued at about $331,000. Allspring Global Investments Holdings LLC grew its stake in shares of First Watch Restaurant Group by 9.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 576,890 shares of the company's stock worth $10,736,000 after purchasing an additional 49,826 shares during the last quarter. Finally, SRH Advisors LLC raised its holdings in shares of First Watch Restaurant Group by 84.3% in the 4th quarter. SRH Advisors LLC now owns 12,185 shares of the company's stock worth $227,000 after purchasing an additional 5,575 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors.

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.