First Watch Restaurant Group (NASDAQ:FWRG) Given New $21.00 Price Target at TD Cowen

First Watch Restaurant Group (NASDAQ:FWRG - Free Report) had its price target lifted by TD Cowen from $18.00 to $21.00 in a report published on Friday,Benzinga reports. TD Cowen currently has a hold rating on the stock.

FWRG has been the subject of several other research reports. Stephens upped their target price on shares of First Watch Restaurant Group from $20.00 to $25.00 and gave the company an "overweight" rating in a report on Friday. Guggenheim dropped their target price on First Watch Restaurant Group from $24.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, October 4th. Barclays boosted their price target on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday. Bank of America cut their price objective on First Watch Restaurant Group from $29.00 to $24.00 and set a "buy" rating for the company in a research report on Wednesday, July 17th. Finally, Benchmark restated a "buy" rating and set a $23.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Two research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.33.

First Watch Restaurant Group Stock Up 1.2 %

Shares of NASDAQ:FWRG traded up $0.24 during trading hours on Friday, reaching $21.07. The stock had a trading volume of 927,416 shares, compared to its average volume of 554,420. First Watch Restaurant Group has a 1 year low of $12.90 and a 1 year high of $25.98. The firm's 50 day moving average is $15.91 and its 200-day moving average is $17.37. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 54.03, a P/E/G ratio of 5.09 and a beta of 0.85. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.57.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its quarterly 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 business had revenue of $251.61 million for the quarter, compared to analysts' expectations of $256.17 million. During the same period last year, the firm earned $0.09 earnings per share. The firm's quarterly revenue was up 14.8% on a year-over-year basis. Research analysts predict that First Watch Restaurant Group will post 0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Commerce Bank acquired a new stake in shares of First Watch Restaurant Group during the third quarter worth $208,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in First Watch Restaurant Group in the 3rd quarter worth about $1,566,000. Mutual of America Capital Management LLC purchased a new stake in First Watch Restaurant Group in the 3rd quarter valued at about $5,757,000. Versor Investments LP purchased a new position in shares of First Watch Restaurant Group during the 3rd quarter worth about $201,000. Finally, Rocky Mountain Advisers LLC boosted its position in shares of First Watch Restaurant Group by 180.1% in the third quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company's stock worth $103,000 after acquiring an additional 4,250 shares during the last quarter. 96.11% of the stock is currently 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.