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 reiterated by analysts at Stephens in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $25.00 price target on the stock. Stephens' target price indicates a potential upside of 38.12% from the stock's previous close.

Separately, Piper Sandler lifted their price objective on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $22.33.

First Watch Restaurant Group Price Performance

First Watch Restaurant Group stock opened at $18.10 on Tuesday. The firm has a fifty day moving average of $19.95 and a 200-day moving average of $18.14. First Watch Restaurant Group has a 52-week low of $12.90 and a 52-week high of $25.98. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $1.10 billion, a P/E ratio of 54.85, a PEG ratio of 3.38 and a beta of 0.90.

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First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last issued its quarterly earnings data on Tuesday, March 11th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. As a group, analysts predict that First Watch Restaurant Group will post 0.32 EPS for the current year.

Hedge Funds Weigh In On First Watch Restaurant Group

Several large investors have recently modified their holdings of the stock. Jane Street Group LLC raised its stake in First Watch Restaurant Group by 1.1% during the third quarter. Jane Street Group LLC now owns 49,358 shares of the company's stock valued at $770,000 after buying an additional 551 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in First Watch Restaurant Group by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,269 shares of the company's stock worth $321,000 after purchasing an additional 613 shares during the last quarter. Assetmark Inc. boosted its holdings in First Watch Restaurant Group by 68.7% in the fourth quarter. Assetmark Inc. now owns 2,455 shares of the company's stock worth $46,000 after purchasing an additional 1,000 shares during the period. Mariner LLC increased its stake in First Watch Restaurant Group by 5.1% during the fourth quarter. Mariner LLC now owns 21,446 shares of the company's stock valued at $399,000 after purchasing an additional 1,033 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of First Watch Restaurant Group by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 78,621 shares of the company's stock worth $1,463,000 after purchasing an additional 2,033 shares during the period. Institutional investors own 96.11% of the company's stock.

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.

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