First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) have received a consensus recommendation of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $20.9091.

Several brokerages have commented on FWRG. Wall Street Zen upgraded shares of First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research raised shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Watch Restaurant Group in a report on Monday, December 29th. Finally, Barclays cut their price target on First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 7th.

First Watch Restaurant Group Trading Up 1.9%

Shares of NASDAQ:FWRG opened at $15.92 on Tuesday. The company has a quick ratio of 0.21, a current ratio of 0.25 and a debt-to-equity ratio of 0.41. First Watch Restaurant Group has a 52-week low of $12.90 and a 52-week high of $21.99. The stock has a market cap of $971.60 million, a price-to-earnings ratio of 199.02, a PEG ratio of 2.90 and a beta of 0.88. The business has a 50-day moving average price of $16.16 and a 200-day moving average price of $16.88.

Insiders Place Their Bets

In other First Watch Restaurant Group news, Director William A. Kussell sold 6,165 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $17.00, for a total value of $104,805.00. Following the completion of the transaction, the director directly owned 26,402 shares of the company’s stock, valued at approximately $448,834. The trade was a 18.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On First Watch Restaurant Group

Several large investors have recently made changes to their positions in the company. Jones Financial Companies Lllp purchased a new stake in First Watch Restaurant Group during the third quarter worth $30,000. First Horizon Advisors Inc. raised its position in shares of First Watch Restaurant Group by 207.6% in the second quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock worth $31,000 after acquiring an additional 1,316 shares during the period. State of Wyoming purchased a new stake in shares of First Watch Restaurant Group during the 4th quarter worth about $64,000. Kemnay Advisory Services Inc. acquired a new stake in shares of First Watch Restaurant Group during the 4th quarter valued at about $66,000. Finally, BNP Paribas Financial Markets grew its position in shares of 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 acquiring an additional 1,673 shares during the period. 96.11% of the stock is currently owned by institutional investors and hedge funds.

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.