First Watch Restaurant Group (NASDAQ:FWRG) Price Target Cut to $18.00

First Watch Restaurant Group (NASDAQ:FWRG - Free Report) had its price objective decreased by Barclays from $21.00 to $18.00 in a research report released on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

FWRG has been the topic of a number of other research reports. Stephens assumed coverage on shares of First Watch Restaurant Group in a report on Thursday, October 17th. They set an "overweight" rating and a $20.00 price target on the stock. Benchmark reissued a "buy" rating and issued a $23.00 price objective on shares of First Watch Restaurant Group in a report on Wednesday, October 16th. TD Cowen reaffirmed a "hold" rating and set a $18.00 target price on shares of First Watch Restaurant Group in a report on Thursday, September 12th. Guggenheim dropped their price target on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. Finally, Stifel Nicolaus cut their price objective on shares of First Watch Restaurant Group from $22.00 to $18.00 and set a "hold" rating for the company in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

First Watch Restaurant Group Stock Down 2.2 %

Shares of NASDAQ:FWRG traded down $0.38 during trading on Tuesday, reaching $16.99. 913,129 shares of the stock traded hands, compared to its average volume of 579,311. The stock has a market cap of $1.03 billion, a P/E ratio of 44.71, a price-to-earnings-growth ratio of 2.09 and a beta of 0.87. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.57. The stock has a 50-day moving average of $15.66 and a two-hundred day moving average of $17.82. First Watch Restaurant Group has a 52-week low of $12.90 and a 52-week high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The business had revenue of $258.60 million during the quarter, compared to analyst estimates of $257.65 million. First Watch Restaurant Group had a return on equity of 4.24% and a net margin of 2.51%. The company's quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.13 EPS. As a group, sell-side analysts expect that First Watch Restaurant Group will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of First Watch Restaurant Group

Several institutional investors have recently made changes to their positions in the business. Raymond James & Associates lifted its stake in First Watch Restaurant Group by 26.1% in the 3rd quarter. Raymond James & Associates now owns 285,007 shares of the company's stock worth $4,446,000 after purchasing an additional 58,994 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in First Watch Restaurant Group by 41.1% during the 3rd quarter. Wesbanco Bank Inc. now owns 68,699 shares of the company's stock valued at $1,072,000 after buying an additional 20,000 shares in the last quarter. Diversified Trust Co increased its stake in First Watch Restaurant Group by 9.8% in the 3rd quarter. Diversified Trust Co now owns 15,750 shares of the company's stock worth $246,000 after acquiring an additional 1,400 shares during the last quarter. Quent Capital LLC raised its holdings in shares of First Watch Restaurant Group by 177.8% during the 3rd quarter. Quent Capital LLC now owns 25,000 shares of the company's stock worth $390,000 after acquiring an additional 16,000 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of First Watch Restaurant Group in the third quarter valued at $119,000. 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.