First Watch Restaurant Group (NASDAQ:FWRG) Stock Price Expected to Rise, Barclays Analyst Says

First Watch Restaurant Group (NASDAQ:FWRG - Free Report) had its price objective lifted by Barclays from $18.00 to $22.00 in a research report sent to investors on Friday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other analysts have also issued reports about the stock. Stephens upped their target price on shares of First Watch Restaurant Group from $20.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday. Benchmark reaffirmed a "buy" rating and issued a $23.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Guggenheim reduced their price target on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a "buy" rating for the company in a research report on Friday, October 4th. Bank of America dropped their price objective on First Watch Restaurant Group from $29.00 to $24.00 and set a "buy" rating on the stock in a report on Wednesday, July 17th. Finally, TD Cowen reissued a "hold" rating and issued a $18.00 target price on shares of First Watch Restaurant Group in a report on Thursday, September 12th. Two investment 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 company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $23.33.

First Watch Restaurant Group Price Performance

First Watch Restaurant Group stock traded up $0.24 during midday trading on Friday, reaching $21.07. The company had a trading volume of 927,402 shares, compared to its average volume of 582,229. First Watch Restaurant Group has a 12-month low of $12.90 and a 12-month high of $25.98. The firm's fifty day simple moving average is $15.82 and its 200-day simple moving average is $17.42. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.57 and a quick ratio of 0.52. The company has a market capitalization of $1.27 billion, a P/E ratio of 53.15, a P/E/G ratio of 4.71 and a beta of 0.85.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). First Watch Restaurant Group had a return on equity of 4.24% and a net margin of 2.51%. The company had revenue of $251.61 million during the quarter, compared to analyst estimates of $256.17 million. During the same period last year, the business earned $0.09 earnings per share. The firm's revenue was up 14.8% compared to the same quarter last year. As a group, equities analysts anticipate that First Watch Restaurant Group will post 0.33 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Rocky Mountain Advisers LLC increased its holdings in shares of First Watch Restaurant Group by 180.1% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company's stock valued at $103,000 after purchasing an additional 4,250 shares in the last quarter. Quent Capital LLC purchased a new position in First Watch Restaurant Group during the first quarter worth $172,000. SG Americas Securities LLC purchased a new stake in First Watch Restaurant Group during the 3rd quarter worth about $119,000. Janus Henderson Group PLC acquired a new position in shares of First Watch Restaurant Group in the first quarter valued at approximately $226,000. Finally, Versor Investments LP acquired a new position in First Watch Restaurant Group in the 3rd quarter valued at $201,000. Hedge funds and other institutional investors own 96.11% of the company's stock.

About First Watch Restaurant Group

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.