First Watch Restaurant Group (NASDAQ:FWRG) Stock Price Target Raised at Guggenheim

First Watch Restaurant Group (NASDAQ:FWRG) had its price objective hoisted by Guggenheim from $20.00 to $21.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts also recently weighed in on FWRG. Stephens reiterated an “overweight” rating and issued a $18.00 target price on shares of First Watch Restaurant Group in a report on Wednesday. Raymond James Financial cut their price objective on First Watch Restaurant Group from $20.00 to $18.00 and set a “strong-buy” rating on the stock in a report on Friday, October 16th. Wall Street Zen upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of First Watch Restaurant Group from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 29th. Finally, Citigroup lowered their price objective on shares of First Watch Restaurant Group from $20.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $18.00.

First Watch Restaurant Group Trading Down 2.0%

Shares of First Watch Restaurant Group stock traded down $0.26 during mid-day trading on Friday, hitting $12.86. The stock had a trading volume of 2,041,952 shares, compared to its average volume of 1,928,175. The firm has a 50-day moving average of $11.40 and a two-hundred day moving average of $12.38. The firm has a market cap of $793.59 million, a P/E ratio of 40.19, a price-to-earnings-growth ratio of 58.49 and a beta of 1.00. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.44. First Watch Restaurant Group has a 12-month low of $9.88 and a 12-month high of $18.77.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, November 3rd. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.05. First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.35%. The firm had revenue of $349.86 million for the quarter, compared to analysts’ expectations of $348.99 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Sell-side analysts forecast that First Watch Restaurant Group will post 0.17 earnings per share for the current year.

Institutional Trading of First Watch Restaurant Group

A number of large investors have recently made changes to their positions in the company. Allworth Financial LP acquired a new position in First Watch Restaurant Group during the 2nd quarter worth approximately $29,000. Freestone Grove Partners LP acquired a new stake in shares of First Watch Restaurant Group in the 2nd quarter valued at $38,000. State of Alaska Department of Revenue purchased a new stake in shares of First Watch Restaurant Group during the 3rd quarter worth $32,000. Rockefeller Capital Management L.P. purchased a new stake in shares of First Watch Restaurant Group during the 4th quarter worth $63,000. Finally, Integrated Wealth Concepts LLC acquired a new position in shares of First Watch Restaurant Group during the second quarter worth $70,000. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc operates a daytime-focused restaurant concept serving breakfast, brunch and lunch. Its restaurants offer made-to-order meals such as omelets, pancakes, French toast, sandwiches, salads and bowls, along with fresh juices, coffee and other beverages. The company generally does not serve dinner, positioning its restaurants around the daytime dining occasion.

First Watch restaurants emphasize fresh preparation and seasonal menu offerings, including items made with eggs, fruits, vegetables and other ingredients prepared in the restaurant.