First Watch Restaurant Group (NASDAQ:FWRG) Given New $25.00 Price Target at Stephens

First Watch Restaurant Group (NASDAQ:FWRG - Free Report) had its price target lifted by Stephens from $20.00 to $25.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other equities analysts have also issued reports about the stock. Guggenheim lowered 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 report on Friday, October 4th. Barclays lowered their price target on shares of First Watch Restaurant Group from $21.00 to $18.00 and set an "overweight" rating on the stock in a research report on Tuesday, October 22nd. Bank of America lowered their price target on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a "buy" rating on the stock in a research report on Wednesday, July 17th. Benchmark reaffirmed a "buy" rating and set a $23.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Finally, TD Cowen reaffirmed a "hold" rating and set a $18.00 price target on shares of First Watch Restaurant Group in a research report on Thursday, September 12th. 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 data from MarketBeat, First Watch Restaurant Group currently has an average rating of "Moderate Buy" and a consensus target price of $23.33.

First Watch Restaurant Group Stock Performance

Shares of FWRG traded up $0.24 during trading hours on Friday, hitting $21.07. The company had a trading volume of 927,402 shares, compared to its average volume of 582,229. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 53.15, a PEG ratio of 4.71 and a beta of 0.85. The business has a fifty day moving average of $15.82 and a 200-day moving average of $17.42. First Watch Restaurant Group has a 12 month low of $12.90 and a 12 month high of $25.98. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.33.

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

Institutional Investors Weigh In On First Watch Restaurant Group

A number of hedge funds have recently made changes to their positions in FWRG. Quent Capital LLC acquired a new stake in shares of First Watch Restaurant Group in the 1st quarter valued at approximately $172,000. Quantbot Technologies LP acquired a new stake in shares of First Watch Restaurant Group in the 1st quarter valued at approximately $322,000. Swiss National Bank boosted its stake in shares of First Watch Restaurant Group by 22.3% in the 1st quarter. Swiss National Bank now owns 64,600 shares of the company's stock valued at $1,590,000 after purchasing an additional 11,800 shares in the last quarter. Primoris Wealth Advisors LLC acquired a new stake in shares of First Watch Restaurant Group in the 1st quarter valued at approximately $1,788,000. Finally, 12 West Capital Management LP boosted its stake in shares of First Watch Restaurant Group by 19.7% in the 1st quarter. 12 West Capital Management LP now owns 640,486 shares of the company's stock valued at $15,769,000 after purchasing an additional 105,486 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors and hedge funds.

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.