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

by · The Markets Daily

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

Several other research firms have also recently commented on FWRG. TD Cowen reissued a “hold” rating and set a $18.00 target price on shares of First Watch Restaurant Group in a research report on Thursday, September 12th. 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 for the company in a research report on Wednesday, July 17th. Benchmark reaffirmed a “buy” rating and set a $23.00 price objective on shares of First Watch Restaurant Group in a report on Wednesday, October 16th. Guggenheim decreased their price objective on shares of 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. Finally, Barclays decreased their price objective on shares of First Watch Restaurant Group from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.33.

Check Out Our Latest Stock Report on FWRG

First Watch Restaurant Group Trading Up 1.2 %

Shares of NASDAQ FWRG traded up $0.24 during mid-day trading on Friday, hitting $21.07. 927,416 shares of the company traded hands, compared to its average volume of 554,420. 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 has a 1 year low of $12.90 and a 1 year high of $25.98. The business has a 50 day moving average of $15.91 and a two-hundred day moving average of $17.41. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 54.03, a PEG ratio of 5.09 and a beta of 0.85.

First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.03 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 company had revenue of $251.61 million for the quarter, compared to analyst estimates of $256.17 million. During the same period last year, the firm earned $0.09 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, sell-side analysts anticipate that First Watch Restaurant Group will post 0.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Watch Restaurant Group

Several institutional investors have recently bought and sold shares of FWRG. Vanguard Group Inc. boosted its position in shares of First Watch Restaurant Group by 18.8% in the 1st quarter. Vanguard Group Inc. now owns 1,611,452 shares of the company’s stock worth $39,674,000 after buying an additional 255,307 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in First Watch Restaurant Group by 15.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,385,972 shares of the company’s stock valued at $24,338,000 after buying an additional 189,740 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in First Watch Restaurant Group by 26.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,340,819 shares of the company’s stock valued at $23,545,000 after buying an additional 281,056 shares during the last quarter. Deepwater Asset Management LLC lifted its stake in First Watch Restaurant Group by 15.4% in the third quarter. Deepwater Asset Management LLC now owns 802,625 shares of the company’s stock valued at $12,521,000 after buying an additional 106,976 shares during the last quarter. Finally, Capital Research Global Investors raised its stake in shares of First Watch Restaurant Group by 17.1% during the first quarter. Capital Research Global Investors now owns 776,545 shares of the company’s stock valued at $19,119,000 after purchasing an additional 113,555 shares in the last quarter. 96.11% of the stock is owned by institutional investors and hedge funds.

About First Watch Restaurant Group

(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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