First Watch Restaurant Group (NASDAQ:FWRG) Issues Quarterly Earnings Results, Misses Expectations By $0.01 EPS

First Watch Restaurant Group (NASDAQ:FWRG) posted its earnings results on Tuesday. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01), Zacks reports. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%.

First Watch Restaurant Group Stock Down 4.7 %

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

Analysts Set New Price Targets

Several research analysts have commented on the company. Piper Sandler lifted their price target on First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Stephens reaffirmed an “overweight” rating and set a $25.00 price target on shares of First Watch Restaurant Group in a research report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $22.33.

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.