Brokerages Set First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Price Target at $21.09

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) have earned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have 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 $21.0909.

FWRG has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. Wall Street Zen upgraded First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Zacks Research upgraded First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 24th.

Institutional Investors Weigh In On First Watch Restaurant Group

A number of hedge funds have recently added to or reduced their stakes in the stock. Nuveen LLC bought a new stake in shares of First Watch Restaurant Group during the first quarter worth approximately $1,085,000. Fifth Third Bancorp boosted its stake in First Watch Restaurant Group by 8,815.8% in the second quarter. Fifth Third Bancorp now owns 1,694 shares of the company’s stock valued at $27,000 after acquiring an additional 1,675 shares during the last quarter. American Century Companies Inc. grew its holdings in First Watch Restaurant Group by 369.1% during the 1st quarter. American Century Companies Inc. now owns 50,320 shares of the company’s stock worth $838,000 after acquiring an additional 39,592 shares during the period. Invesco Ltd. grew its holdings in First Watch Restaurant Group by 86.9% during the 1st quarter. Invesco Ltd. now owns 45,198 shares of the company’s stock worth $753,000 after acquiring an additional 21,009 shares during the period. Finally, Granahan Investment Management LLC raised its position in shares of First Watch Restaurant Group by 8.3% during the 1st quarter. Granahan Investment Management LLC now owns 1,594,267 shares of the company’s stock valued at $26,545,000 after acquiring an additional 122,657 shares during the last quarter. Institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Stock Performance

Shares of NASDAQ:FWRG opened at $15.37 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.25 and a quick ratio of 0.21. The business’s fifty day moving average price is $16.77 and its two-hundred day moving average price is $17.04. First Watch Restaurant Group has a fifty-two week low of $12.90 and a fifty-two week high of $22.71. The stock has a market capitalization of $938.03 million, a price-to-earnings ratio of 192.15, a price-to-earnings-growth ratio of 4.28 and a beta of 0.88.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results on Tuesday, November 4th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). First Watch Restaurant Group had a net margin of 0.42% and a return on equity of 0.83%. The firm had revenue of $316.02 million during the quarter, compared to analyst estimates of $308.31 million. As a group, analysts predict that First Watch Restaurant Group will post 0.32 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.