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

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $24.17.

Several research firms have recently issued reports on FWRG. Citigroup raised their target price on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. TD Cowen decreased their price objective on shares of First Watch Restaurant Group from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Thursday, June 13th. Stifel Nicolaus cut their target price on First Watch Restaurant Group from $22.00 to $18.00 and set a “hold” rating on the stock in a research note on Tuesday. Finally, Barclays reduced their price target on First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th.

Insider Activity

In other First Watch Restaurant Group news, Director William A. Kussell sold 8,386 shares of the firm’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $22.10, for a total transaction of $185,330.60. Following the transaction, the director now directly owns 12,409 shares in the company, valued at approximately $274,238.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale bought a new stake in shares of First Watch Restaurant Group in the 3rd quarter valued at about $35,000. Sunbelt Securities Inc. bought a new position in shares of First Watch Restaurant Group in the 1st quarter worth $65,000. iA Global Asset Management Inc. purchased a new stake in shares of First Watch Restaurant Group during the 3rd quarter worth $95,000. Quent Capital LLC bought a new stake in First Watch Restaurant Group during the first quarter valued at about $172,000. Finally, AXQ Capital LP bought a new stake in First Watch Restaurant Group during the third quarter valued at about $183,000. 96.11% of the stock is currently owned by institutional investors.

First Watch Restaurant Group Price Performance

NASDAQ:FWRG opened at $16.07 on Thursday. The firm has a market capitalization of $970.19 million, a price-to-earnings ratio of 42.29, a PEG ratio of 2.25 and a beta of 0.88. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.60 and a quick ratio of 0.55. The business has a 50 day simple moving average of $19.82 and a 200-day simple moving average of $21.50. First Watch Restaurant Group has a 1 year low of $15.90 and a 1 year high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $242.40 million during the quarter, compared to the consensus estimate of $245.03 million. First Watch Restaurant Group had a return on equity of 4.15% and a net margin of 2.52%. First Watch Restaurant Group’s revenue was up 14.7% on a year-over-year basis. During the same period last year, the company earned $0.15 earnings per share. Equities analysts forecast that First Watch Restaurant Group will post 0.39 EPS for the current year.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc, through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc and changed its name to First Watch Restaurant Group, Inc in December 2019. First Watch Restaurant Group, Inc was founded in 1983 and is based in Bradenton, Florida.