First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives $18.56 Consensus Price Target from Brokerages

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has received a consensus recommendation of “Moderate Buy” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $18.5556.

FWRG has been the topic of several recent research reports. Wall Street Zen upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. TD Cowen restated a “buy” rating and set a $17.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday, June 3rd. Freedom Capital raised First Watch Restaurant Group to a “strong-buy” rating in a report on Wednesday, July 1st. Weiss Ratings raised shares of First Watch Restaurant Group from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, August 28th. Finally, Guggenheim lowered their target price on shares of First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, August 7th.

First Watch Restaurant Group Stock Performance

NASDAQ:FWRG opened at $11.35 on Friday. First Watch Restaurant Group has a 52-week low of $9.97 and a 52-week high of $18.82. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.22 and a current ratio of 0.27. The company has a market cap of $700.41 million, a price-to-earnings ratio of 39.14, a PEG ratio of 18.65 and a beta of 1.03. The firm’s 50-day moving average is $12.42 and its 200-day moving average is $12.06.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.35%.The firm had revenue of $354.67 million during the quarter, compared to the consensus estimate of $351.57 million. During the same quarter in the prior year, the business posted $0.03 EPS. First Watch Restaurant Group’s revenue was up 15.2% compared to the same quarter last year. Equities research analysts anticipate that First Watch Restaurant Group will post 0.15 earnings per share for the current year.

Institutional Trading of First Watch Restaurant Group

Several large investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP boosted its holdings in shares of First Watch Restaurant Group by 16.1% in the 2nd quarter. Engineers Gate Manager LP now owns 29,200 shares of the company’s stock worth $376,000 after acquiring an additional 4,050 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of First Watch Restaurant Group in the second quarter valued at $70,000. Allworth Financial LP increased its stake in shares of First Watch Restaurant Group by 325.4% in the second quarter. Allworth Financial LP now owns 2,225 shares of the company’s stock valued at $29,000 after buying an additional 1,702 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of First Watch Restaurant Group by 9.0% in the second quarter. Arizona State Retirement System now owns 16,448 shares of the company’s stock valued at $212,000 after buying an additional 1,361 shares during the last quarter. Finally, Corient Private Wealth LP raised its holdings in shares of First Watch Restaurant Group by 105.3% in the second quarter. Corient Private Wealth LP now owns 285,062 shares of the company’s stock valued at $3,674,000 after buying an additional 146,196 shares during the last quarter. 96.11% of the stock is owned by institutional investors.

First Watch Restaurant Group Company Profile

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.