First Watch Restaurant Group (NASDAQ:FWRG) Price Target Raised to $25.00

by · The Cerbat Gem

First Watch Restaurant Group (NASDAQ:FWRG – Free Report) had its price objective increased by Raymond James from $22.00 to $25.00 in a report released on Friday morning,Benzinga reports. They currently have a strong-buy rating on the stock.

Several other research analysts also recently commented on FWRG. Bank of America lowered their price objective on shares of 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. Benchmark reaffirmed a “buy” rating and issued a $23.00 price objective on shares of First Watch Restaurant Group in a research note on Wednesday, October 16th. Stephens boosted their target price on First Watch Restaurant Group from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday. Barclays raised their price target on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday. Finally, TD Cowen reiterated a “hold” rating and set a $18.00 price objective on shares of First Watch Restaurant Group in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

Read Our Latest Stock Report on FWRG

First Watch Restaurant Group Stock Up 1.2 %

Shares of FWRG opened at $21.07 on Friday. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $1.27 billion, a PE ratio of 63.85, a P/E/G ratio of 5.88 and a beta of 0.85. The firm’s 50 day moving average is $15.91 and its 200-day moving average is $17.33. First Watch Restaurant Group has a 12 month low of $12.90 and a 12 month high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The company had revenue of $251.61 million for the quarter, compared to analyst estimates of $256.17 million. First Watch Restaurant Group had a return on equity of 3.64% and a net margin of 2.09%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $0.09 earnings per share. Equities research analysts forecast that First Watch Restaurant Group will post 0.31 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FWRG. Diversified Trust Co boosted its holdings in First Watch Restaurant Group by 9.8% in the third quarter. Diversified Trust Co now owns 15,750 shares of the company’s stock valued at $246,000 after acquiring an additional 1,400 shares during the last quarter. Sei Investments Co. increased its position in shares of First Watch Restaurant Group by 6.5% during the first quarter. Sei Investments Co. now owns 29,162 shares of the company’s stock worth $718,000 after buying an additional 1,783 shares during the period. iA Global Asset Management Inc. raised its stake in First Watch Restaurant Group by 10.9% during the second quarter. iA Global Asset Management Inc. now owns 19,898 shares of the company’s stock worth $349,000 after buying an additional 1,948 shares during the last quarter. Quent Capital LLC grew its holdings in First Watch Restaurant Group by 28.6% during the 2nd quarter. Quent Capital LLC now owns 9,000 shares of the company’s stock worth $158,000 after acquiring an additional 2,000 shares during the period. Finally, Bayesian Capital Management LP raised its position in shares of First Watch Restaurant Group by 17.6% in the 1st quarter. Bayesian Capital Management LP now owns 19,369 shares of the company’s stock worth $477,000 after acquiring an additional 2,900 shares in the last quarter. 96.11% of the stock is owned by institutional investors.

First Watch Restaurant Group Company Profile

(Get Free Report)

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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