Brokerages Set First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Target Price at $26.00

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRGGet Free Report) have been given a consensus recommendation of “Moderate Buy” by the six brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $26.00.

A number of research analysts have recently commented on FWRG shares. Raymond James increased their price objective on First Watch Restaurant Group from $23.00 to $25.00 and gave the company a “strong-buy” rating in a report on Thursday, January 25th. Citigroup raised their price target on First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Barclays raised their price target on First Watch Restaurant Group from $23.00 to $29.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 6th. Stifel Nicolaus raised their price target on First Watch Restaurant Group from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Finally, TD Cowen lifted their target price on First Watch Restaurant Group from $21.00 to $26.00 and gave the company a “market perform” rating in a research note on Tuesday, March 5th.

Read Our Latest Stock Analysis on FWRG

Insider Activity

In other news, Director William A. Kussell sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $20.53, for a total value of $307,950.00. Following the completion of the sale, the director now directly owns 20,795 shares of the company’s stock, valued at approximately $426,921.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director William A. Kussell sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $20.53, for a total value of $307,950.00. Following the completion of the sale, the director now directly owns 20,795 shares of the company’s stock, valued at approximately $426,921.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric Richard Hartman sold 1,474 shares of First Watch Restaurant Group stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $25.03, for a total value of $36,894.22. Following the transaction, the insider now directly owns 51,417 shares of the company’s stock, valued at $1,286,967.51. The disclosure for this sale can be found here. Insiders sold 7,091,741 shares of company stock valued at $170,160,841 in the last three months. 4.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Watch Restaurant Group

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors grew its position in shares of First Watch Restaurant Group by 170.4% in the second quarter. Captrust Financial Advisors now owns 2,028 shares of the company’s stock valued at $29,000 after purchasing an additional 1,278 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in First Watch Restaurant Group during the third quarter valued at about $35,000. Lazard Asset Management LLC grew its position in First Watch Restaurant Group by 117.8% during the third quarter. Lazard Asset Management LLC now owns 2,047 shares of the company’s stock valued at $35,000 after acquiring an additional 1,107 shares during the period. PNC Financial Services Group Inc. grew its position in First Watch Restaurant Group by 3,232.8% during the third quarter. PNC Financial Services Group Inc. now owns 2,233 shares of the company’s stock valued at $39,000 after acquiring an additional 2,166 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in First Watch Restaurant Group by 355.7% during the third quarter. Tower Research Capital LLC TRC now owns 2,274 shares of the company’s stock valued at $32,000 after acquiring an additional 1,775 shares during the period. 96.11% of the stock is owned by institutional investors and hedge funds.

First Watch Restaurant Group Stock Performance

Shares of First Watch Restaurant Group stock opened at $24.47 on Tuesday. First Watch Restaurant Group has a 52 week low of $14.34 and a 52 week high of $25.88. The business’s fifty day simple moving average is $23.02 and its 200-day simple moving average is $19.90. The firm has a market cap of $1.46 billion, a PE ratio of 59.68, a price-to-earnings-growth ratio of 2.22 and a beta of 1.13. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 0.21.

First Watch Restaurant Group (NASDAQ:FWRGGet Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The company had revenue of $244.60 million for the quarter, compared to analyst estimates of $237.20 million. During the same quarter last year, the company earned ($0.01) EPS. First Watch Restaurant Group’s revenue for the quarter was up 31.7% compared to the same quarter last year. Equities analysts forecast that First Watch Restaurant Group will post 0.46 earnings per share for the current year.

About First Watch Restaurant Group

(Get Free Report

First Watch Restaurant Group, Inc 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. The company was founded in 1983 and is headquartered in Bradenton, Florida.

Read More

Analyst Recommendations for First Watch Restaurant Group (NASDAQ:FWRG)

Receive News & Ratings for First Watch Restaurant Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Watch Restaurant Group and related companies with MarketBeat.com's FREE daily email newsletter.