First Watch Restaurant Group (NASDAQ:FWRG) Earns Outperform Rating from Analysts at Raymond James

Raymond James began coverage on shares of First Watch Restaurant Group (NASDAQ:FWRG) in a research note issued to investors on Wednesday morning, Analyst Price Targets reports. The firm issued an outperform rating and a $24.00 price objective on the stock.

Several other equities analysts have also recently issued reports on FWRG. Guggenheim initiated coverage on First Watch Restaurant Group in a research report on Tuesday, October 26th. They issued a buy rating and a $26.00 price target on the stock. Jefferies Financial Group began coverage on First Watch Restaurant Group in a research report on Tuesday, October 26th. They issued a buy rating and a $30.00 price target on the stock. Zacks Investment Research lowered First Watch Restaurant Group from a buy rating to a hold rating in a report on Tuesday. Cowen began coverage on First Watch Restaurant Group in a report on Tuesday, October 26th. They issued a market perform rating and a $21.50 price objective on the stock. Finally, Citigroup began coverage on First Watch Restaurant Group in a report on Tuesday, October 26th. They issued a neutral rating and a $24.50 price objective on the stock. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $25.00.

Shares of FWRG stock opened at $15.53 on Wednesday. First Watch Restaurant Group has a 52-week low of $14.76 and a 52-week high of $25.46. The firm has a 50-day moving average of $18.22. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.74 and a current ratio of 0.78.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings results on Monday, November 8th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The company had revenue of $157.44 million during the quarter, compared to analyst estimates of $152.27 million. As a group, equities research analysts forecast that First Watch Restaurant Group will post -0.05 EPS for the current fiscal year.

An institutional investor recently bought a new position in First Watch Restaurant Group stock. LGT Capital Partners LTD. purchased a new position in shares of First Watch Restaurant Group Inc (NASDAQ:FWRG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 325,470 shares of the company’s stock, valued at approximately $5,455,000. LGT Capital Partners LTD. owned approximately 0.55% of First Watch Restaurant Group at the end of the most recent reporting period.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group Inc is a daytime dining restaurant concept serving made-to-order breakfast, brunch and lunch using fresh ingredients. It offers pancakes, omelets, sandwiches and salads, alongside specialty items like the Quinoa Power Bowl(R), Avocado Toast and the Chickichanga. First Watch Restaurant Group Inc is based in BRADENTON, Fla.

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Analyst Recommendations for First Watch Restaurant Group (NASDAQ:FWRG)

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