Recent Analysts’ Ratings Updates for First Watch Restaurant Group (FWRG)

Posted by Latisha Jones on Nov 15th, 2024

Several brokerages have updated their recommendations and price targets on shares of First Watch Restaurant Group (NASDAQ: FWRG) in the last few weeks:

11/11/2024 – First Watch Restaurant Group had its price target raised by analysts at Piper Sandler from $22.00 to $23.00. They now have an “overweight” rating on the stock.
11/8/2024 – First Watch Restaurant Group had its price target raised by analysts at Raymond James from $22.00 to $25.00. They now have a “strong-buy” rating on the stock.
11/8/2024 – First Watch Restaurant Group had its price target raised by analysts at Barclays PLC from $18.00 to $22.00. They now have an “overweight” rating on the stock.
11/8/2024 – First Watch Restaurant Group had its price target raised by analysts at Stephens from $20.00 to $25.00. They now have an “overweight” rating on the stock.
11/8/2024 – First Watch Restaurant Group had its price target raised by analysts at TD Cowen from $18.00 to $21.00. They now have a “hold” rating on the stock.
10/22/2024 – First Watch Restaurant Group had its price target lowered by analysts at Barclays PLC from $21.00 to $18.00. They now have an “overweight” rating on the stock.
10/17/2024 – First Watch Restaurant Group is now covered by analysts at Stephens. They set an “overweight” rating and a $20.00 price target on the stock.
10/16/2024 – First Watch Restaurant Group had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $23.00 price target on the stock.
10/4/2024 – First Watch Restaurant Group had its price target lowered by analysts at Guggenheim from $24.00 to $20.00. They now have a “buy” rating on the stock.

First Watch Restaurant Group Trading Down 1.5 %

FWRG stock traded down $0.28 during midday trading on Friday, reaching $18.65. The company’s stock had a trading volume of 24,069 shares, compared to its average volume of 606,755. The business’s 50-day simple moving average is $16.22 and its 200-day simple moving average is $17.32. The stock has a market cap of $1.13 billion, a PE ratio of 56.52, a price-to-earnings-growth ratio of 5.70 and a beta of 0.85. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week high of $25.98. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32.

First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $251.61 million during the quarter, compared to analyst estimates of $256.17 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. As a group, sell-side analysts expect that First Watch Restaurant Group, Inc. will post 0.31 EPS for the current year.

Institutional Trading of First Watch Restaurant Group

A number of institutional investors have recently bought and sold shares of the business. Mutual of America Capital Management LLC acquired a new position in First Watch Restaurant Group in the 3rd quarter valued at approximately $5,757,000. ArrowMark Colorado Holdings LLC acquired a new stake in shares of First Watch Restaurant Group during the third quarter worth $5,120,000. Deepwater Asset Management LLC boosted its stake in First Watch Restaurant Group by 68.5% during the second quarter. Deepwater Asset Management LLC now owns 695,649 shares of the company’s stock worth $12,216,000 after acquiring an additional 282,765 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in First Watch Restaurant Group by 26.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,340,819 shares of the company’s stock worth $23,545,000 after acquiring an additional 281,056 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in First Watch Restaurant Group by 18.8% during the first quarter. Vanguard Group Inc. now owns 1,611,452 shares of the company’s stock worth $39,674,000 after acquiring an additional 255,307 shares in the last quarter. Institutional investors own 96.11% of the company’s stock.

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.