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

First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Get Free Report) has earned an average rating of "Moderate Buy" from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $22.00.

Several research analysts have recently commented on the stock. Stephens started coverage on shares of First Watch Restaurant Group in a research note on Thursday, October 17th. They issued an "overweight" rating and a $20.00 price objective for the company. Benchmark reissued a "buy" rating and issued a $23.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Stifel Nicolaus cut their price objective on First Watch Restaurant Group from $22.00 to $18.00 and set a "hold" rating on the stock in a research report on Tuesday, July 2nd. Guggenheim decreased their target price on First Watch Restaurant Group from $24.00 to $20.00 and set a "buy" rating for the company in a report on Friday, October 4th. Finally, Barclays lowered their target price on First Watch Restaurant Group from $21.00 to $18.00 and set an "overweight" rating for the company in a research note on Tuesday, October 22nd.

First Watch Restaurant Group Trading Down 2.4 %

NASDAQ FWRG traded down $0.42 on Wednesday, reaching $16.83. The stock had a trading volume of 362,115 shares, compared to its average volume of 576,658. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $15.71 and a two-hundred day moving average price of $17.57. First Watch Restaurant Group has a 12-month low of $12.90 and a 12-month high of $25.98. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 43.15, a P/E/G ratio of 2.73 and a beta of 0.87.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. First Watch Restaurant Group had a return on equity of 4.24% and a net margin of 2.51%. The firm had revenue of $258.60 million for the quarter, compared to the consensus estimate of $257.65 million. During the same quarter in the previous year, the business earned $0.13 EPS. The company's quarterly revenue was up 19.6% compared to the same quarter last year. As a group, sell-side analysts forecast that First Watch Restaurant Group will post 0.33 EPS for the current fiscal year.

Institutional Trading of First Watch Restaurant Group

A number of institutional investors have recently bought and sold shares of the business. Deepwater Asset Management LLC raised its position in shares of First Watch Restaurant Group by 68.5% during the 2nd quarter. Deepwater Asset Management LLC now owns 695,649 shares of the company's stock worth $12,216,000 after acquiring an additional 282,765 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in First Watch Restaurant Group by 26.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,340,819 shares of the company's stock worth $23,545,000 after purchasing an additional 281,056 shares in the last quarter. Vanguard Group Inc. raised its holdings in First Watch Restaurant Group by 18.8% during the first quarter. Vanguard Group Inc. now owns 1,611,452 shares of the company's stock worth $39,674,000 after purchasing an additional 255,307 shares in the last quarter. Nicholas Investment Partners LP purchased a new stake in shares of First Watch Restaurant Group during the 2nd quarter worth approximately $3,391,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of First Watch Restaurant Group by 15.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,385,972 shares of the company's stock valued at $24,338,000 after buying an additional 189,740 shares in the last quarter. 96.11% of the stock is owned by hedge funds and other institutional investors.

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.