First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Receives $19.00 Average Target Price from Analysts

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has been assigned an average rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $18.7778.

FWRG has been the topic of a number of recent analyst reports. Wall Street Zen cut First Watch Restaurant Group from a “sell” rating to a “strong sell” rating in a report on Saturday, July 18th. Benchmark decreased their price target on shares of First Watch Restaurant Group from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Freedom Capital raised shares of First Watch Restaurant Group to a “strong-buy” rating in a research note on Wednesday, July 1st. Stephens reissued an “overweight” rating and set a $21.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, May 6th. Finally, DA Davidson restated a “buy” rating and set a $17.00 price target on shares of First Watch Restaurant Group in a report on Tuesday, April 28th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in FWRG. Legal & General Group Plc raised its position in shares of First Watch Restaurant Group by 1.6% during the second quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock valued at $730,000 after buying an additional 724 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of First Watch Restaurant Group by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 46,092 shares of the company’s stock worth $695,000 after buying an additional 832 shares in the last quarter. Diversified Trust Co boosted its stake in First Watch Restaurant Group by 4.7% in the first quarter. Diversified Trust Co now owns 25,654 shares of the company’s stock worth $269,000 after purchasing an additional 1,154 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its position in First Watch Restaurant Group by 0.5% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 310,837 shares of the company’s stock valued at $3,258,000 after acquiring an additional 1,450 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in shares of First Watch Restaurant Group by 11.1% in the fourth quarter. Intech Investment Management LLC now owns 16,041 shares of the company’s stock valued at $242,000 after purchasing an additional 1,606 shares in the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

First Watch Restaurant Group Trading Down 3.1%

NASDAQ:FWRG opened at $11.96 on Friday. The company has a market cap of $737.33 million, a PE ratio of 42.72, a P/E/G ratio of 7.31 and a beta of 1.03. First Watch Restaurant Group has a 52 week low of $9.97 and a 52 week high of $19.53. The business’s 50 day moving average is $11.80 and its two-hundred day moving average is $13.01. The company has a quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 0.43.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The business had revenue of $330.96 million during the quarter, compared to the consensus estimate of $329.35 million. First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.38%.The company’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) earnings per share. On average, analysts predict that First Watch Restaurant Group will post 0.2 EPS for the current year.

First Watch Restaurant Group Company Profile

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.