First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives $21.36 Consensus Target Price from Analysts

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has been given an average recommendation of “Buy” by the ten ratings firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $21.36.

Several analysts have recently commented on the stock. Barclays reduced their price target on shares of First Watch Restaurant Group from $24.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Raymond James reissued a “strong-buy” rating and issued a $21.00 target price (down previously from $25.00) on shares of First Watch Restaurant Group in a research report on Wednesday, May 7th. Bank of America boosted their target price on First Watch Restaurant Group from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Benchmark cut their target price on First Watch Restaurant Group from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, Sanford C. Bernstein set a $21.00 target price on First Watch Restaurant Group in a research report on Tuesday, March 11th.

Insider Buying and Selling at First Watch Restaurant Group

In other news, insider Jay Anthony Wolszczak sold 5,743 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $96,539.83. Following the sale, the insider now owns 37,768 shares of the company’s stock, valued at approximately $634,880.08. This represents a 13.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total value of $706,675.59. Following the sale, the chief executive officer now directly owns 389,832 shares in the company, valued at $6,553,075.92. This represents a 9.73% decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

Institutional Trading of First Watch Restaurant Group

Large investors have recently modified their holdings of the stock. Barclays PLC grew its stake in shares of First Watch Restaurant Group by 505.3% during the third quarter. Barclays PLC now owns 172,515 shares of the company’s stock worth $2,690,000 after purchasing an additional 144,014 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of First Watch Restaurant Group by 98.9% in the fourth quarter. SG Americas Securities LLC now owns 15,177 shares of the company’s stock valued at $282,000 after buying an additional 7,547 shares during the last quarter. WCM Investment Management LLC raised its holdings in shares of First Watch Restaurant Group by 44.2% in the fourth quarter. WCM Investment Management LLC now owns 947,240 shares of the company’s stock valued at $17,552,000 after buying an additional 290,173 shares during the last quarter. Stephens Investment Management Group LLC raised its holdings in shares of First Watch Restaurant Group by 37.7% in the fourth quarter. Stephens Investment Management Group LLC now owns 693,359 shares of the company’s stock valued at $12,903,000 after buying an additional 189,681 shares during the last quarter. Finally, SRH Advisors LLC raised its holdings in shares of First Watch Restaurant Group by 84.3% in the fourth quarter. SRH Advisors LLC now owns 12,185 shares of the company’s stock valued at $227,000 after buying an additional 5,575 shares during the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Stock Up 2.3%

FWRG stock opened at $15.91 on Friday. The firm has a market cap of $970.40 million, a PE ratio of 48.21, a PEG ratio of 3.38 and a beta of 1.01. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.54. The firm’s 50 day moving average price is $17.45 and its 200-day moving average price is $18.70. First Watch Restaurant Group has a one year low of $12.90 and a one year high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.05). The firm had revenue of $282.24 million for the quarter, compared to analysts’ expectations of $282.98 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 EPS. On average, equities research analysts anticipate that First Watch Restaurant Group will post 0.32 EPS for the current year.

About First Watch Restaurant Group

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.