First Watch Restaurant Group (NASDAQ:FWRG – Free Report) had its price target cut by Barclays from $27.00 to $21.00 in a report published on Wednesday morning, Benzinga reports. They currently have an overweight rating on the stock.
FWRG has been the subject of several other research reports. Bank of America reduced their price objective on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a buy rating for the company in a research note on Wednesday, July 17th. Stifel Nicolaus reduced their price objective on shares of First Watch Restaurant Group from $22.00 to $18.00 and set a hold rating for the company in a research note on Tuesday, July 2nd. Finally, TD Cowen reaffirmed a hold rating and set a $18.00 price objective on shares of First Watch Restaurant Group in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $23.00.
Check Out Our Latest Research Report on First Watch Restaurant Group
First Watch Restaurant Group Stock Performance
First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.02. First Watch Restaurant Group had a net margin of 2.52% and a return on equity of 4.15%. The company had revenue of $258.60 million for the quarter, compared to analyst estimates of $257.65 million. During the same quarter in the previous year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was up 19.6% compared to the same quarter last year. On average, research analysts forecast that First Watch Restaurant Group will post 0.37 EPS for the current fiscal year.
Hedge Funds Weigh In On First Watch Restaurant Group
A number of hedge funds and other institutional investors have recently bought and sold shares of FWRG. Sunbelt Securities Inc. purchased a new position in First Watch Restaurant Group in the 1st quarter worth approximately $65,000. Quent Capital LLC grew its stake in First Watch Restaurant Group by 28.6% in the 2nd quarter. Quent Capital LLC now owns 9,000 shares of the company’s stock worth $158,000 after buying an additional 2,000 shares in the last quarter. Accent Capital Management LLC purchased a new position in First Watch Restaurant Group in the 4th quarter worth approximately $211,000. Janus Henderson Group PLC purchased a new position in First Watch Restaurant Group in the 1st quarter worth approximately $226,000. Finally, LVW Advisors LLC purchased a new position in First Watch Restaurant Group in the 1st quarter worth approximately $227,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.
About First Watch Restaurant Group
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.
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