Analysts Set First Watch Restaurant Group, Inc. (NASDAQ:FWRG) PT at $19.25

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) have received a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $19.25.

A number of equities analysts recently commented on the company. Piper Sandler restated an “overweight” rating and set a $19.00 target price on shares of First Watch Restaurant Group in a report on Tuesday, February 24th. DA Davidson restated a “buy” rating and set a $17.00 price target on shares of First Watch Restaurant Group in a report on Tuesday, April 28th. Citigroup dropped their price objective on First Watch Restaurant Group from $26.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Wall Street Zen raised First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a research report on Saturday. Finally, Stifel Nicolaus set a $14.00 target price on First Watch Restaurant Group in a research report on Tuesday, May 5th.

Insiders Place Their Bets

In related news, insider Matthew Eisenacher sold 2,760 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $12.52, for a total transaction of $34,555.20. Following the completion of the sale, the insider directly owned 67,223 shares in the company, valued at $841,631.96. This represents a 3.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jay Anthony Wolszczak sold 3,161 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $12.52, for a total value of $39,575.72. Following the sale, the insider owned 228,930 shares of the company’s stock, valued at $2,866,203.60. This trade represents a 1.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 68,013 shares of company stock worth $853,606. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On First Watch Restaurant Group

Hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp acquired a new position in First Watch Restaurant Group during the 3rd quarter valued at about $30,000. Rockefeller Capital Management L.P. acquired a new position in First Watch Restaurant Group during the 4th quarter valued at about $63,000. State of Wyoming acquired a new position in First Watch Restaurant Group during the 4th quarter valued at about $64,000. Kemnay Advisory Services Inc. acquired a new position in First Watch Restaurant Group during the 4th quarter valued at about $66,000. Finally, BNP Paribas Financial Markets increased its position in First Watch Restaurant Group by 61.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock valued at $70,000 after buying an additional 1,673 shares in the last quarter. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

First Watch Restaurant Group Price Performance

Shares of NASDAQ:FWRG opened at $11.13 on Thursday. The stock has a market cap of $686.16 million, a PE ratio of 39.75, a price-to-earnings-growth ratio of 6.02 and a beta of 1.06. First Watch Restaurant Group has a 1-year low of $10.09 and a 1-year high of $19.53. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 0.43. The stock’s fifty day simple moving average is $11.68 and its two-hundred day simple moving average is $14.26.

First Watch Restaurant Group (NASDAQ:FWRG) last announced 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). The firm had revenue of $330.96 million during the quarter, compared to analysts’ expectations of $329.35 million. First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.38%.The company’s revenue was up 17.3% compared to the same quarter last year. During the same period last year, the business posted ($0.01) EPS. As a group, analysts forecast that First Watch Restaurant Group will post 0.2 EPS for the current fiscal year.

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.