First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives Consensus Rating of “Moderate Buy” from Analysts

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $19.2727.

A number of research analysts recently issued reports on FWRG shares. Stephens reaffirmed an “overweight” rating and issued a $21.00 price target on shares of First Watch Restaurant Group in a report on Wednesday, May 6th. Weiss Ratings cut shares of First Watch Restaurant Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. TD Cowen reaffirmed a “buy” rating and issued a $17.00 target price on shares of First Watch Restaurant Group in a research note on Wednesday, June 3rd. Stifel Nicolaus set a $14.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday, May 5th. Finally, Benchmark lowered their price target on shares of First Watch Restaurant Group from $24.00 to $22.00 and set a “buy” rating for the company in a report on Monday, April 20th.

First Watch Restaurant Group Stock Up 4.4%

Shares of FWRG stock opened at $12.74 on Monday. First Watch Restaurant Group has a one year low of $9.97 and a one year high of $19.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.25. The stock has a fifty day moving average price of $11.74 and a 200 day moving average price of $13.49. The stock has a market cap of $785.42 million, a P/E ratio of 45.50, a price-to-earnings-growth ratio of 6.31 and a beta of 1.06.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). First Watch Restaurant Group had a net margin of 1.38% and a return on equity of 2.85%. The company had revenue of $330.96 million during the quarter, compared to the consensus estimate of $329.35 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. Analysts predict that First Watch Restaurant Group will post 0.2 earnings per share for the current year.

Institutional Investors Weigh In On First Watch Restaurant Group

Several institutional investors have recently modified their holdings of the business. Jones Financial Companies Lllp bought a new position in First Watch Restaurant Group in the third quarter valued at approximately $30,000. Rockefeller Capital Management L.P. acquired a new position in shares of First Watch Restaurant Group in the 4th quarter valued at $63,000. State of Wyoming acquired a new stake in shares of First Watch Restaurant Group during the fourth quarter worth $64,000. Kemnay Advisory Services Inc. acquired a new position in First Watch Restaurant Group in the fourth quarter valued at about $66,000. Finally, BNP Paribas Financial Markets boosted its holdings in First Watch Restaurant Group by 61.9% during the second quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock worth $70,000 after buying an additional 1,673 shares during the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

About First Watch Restaurant Group

First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.