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

Raymond James started coverage on shares of First Watch Restaurant Group (NASDAQ:FWRG) in a report published on Wednesday morning, Analyst Price Targets reports. The brokerage issued an outperform rating and a $24.00 price objective on the stock.

Several other brokerages have also commented on FWRG. Citigroup started coverage on shares of First Watch Restaurant Group in a research note on Tuesday, October 26th. They issued a neutral rating and a $24.50 price target on the stock. The Goldman Sachs Group began coverage on shares of First Watch Restaurant Group in a research note on Tuesday, October 26th. They issued a buy rating and a $26.00 price target on the stock. Guggenheim began coverage on shares of First Watch Restaurant Group in a research note on Tuesday, October 26th. They set a buy rating and a $26.00 price objective on the stock. Stifel Nicolaus began coverage on shares of First Watch Restaurant Group in a research note on Tuesday, October 26th. They set a buy rating and a $25.00 price objective on the stock. Finally, Barclays lowered their price objective on shares of First Watch Restaurant Group from $27.00 to $26.00 and set an overweight rating on the stock in a research note on Wednesday, December 15th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, First Watch Restaurant Group presently has a consensus rating of Buy and an average target price of $25.00.

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

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Monday, November 8th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The business had revenue of $157.44 million for the quarter, compared to analyst estimates of $152.27 million. Sell-side analysts predict that First Watch Restaurant Group will post -0.05 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in First Watch Restaurant Group stock. LGT Capital Partners LTD. bought a new position in shares of First Watch Restaurant Group Inc (NASDAQ:FWRG) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

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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