Brokerages Set First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Target Price at $23.30

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has been given an average rating of “Moderate Buy” by the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $23.30.

A number of research firms have recently commented on FWRG. TD Cowen increased their price objective on First Watch Restaurant Group from $18.00 to $21.00 and gave the company a “hold” rating in a report on Friday, November 8th. Stephens reiterated an “overweight” rating and issued a $25.00 price target on shares of First Watch Restaurant Group in a research note on Tuesday, January 28th. Raymond James boosted their price objective on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Barclays upped their target price on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Piper Sandler lifted their price target on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th.

First Watch Restaurant Group Stock Performance

NASDAQ:FWRG opened at $20.50 on Friday. First Watch Restaurant Group has a 12 month low of $12.90 and a 12 month high of $25.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. The firm has a market capitalization of $1.24 billion, a PE ratio of 62.12, a price-to-earnings-growth ratio of 3.50 and a beta of 0.91. The business’s fifty day moving average price is $19.55 and its 200 day moving average price is $17.62.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC boosted its stake in shares of First Watch Restaurant Group by 505.3% during the third quarter. Barclays PLC now owns 172,515 shares of the company’s stock worth $2,690,000 after buying an additional 144,014 shares during the period. Mutual of America Capital Management LLC purchased a new stake in First Watch Restaurant Group during the 3rd quarter valued at approximately $5,757,000. Geode Capital Management LLC raised its stake in First Watch Restaurant Group by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 769,608 shares of the company’s stock valued at $12,008,000 after acquiring an additional 91,416 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of First Watch Restaurant Group by 22.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company’s stock valued at $30,988,000 after purchasing an additional 366,227 shares during the last quarter. Finally, FMR LLC grew its stake in shares of First Watch Restaurant Group by 9.5% in the 3rd quarter. FMR LLC now owns 625,523 shares of the company’s stock valued at $9,758,000 after purchasing an additional 54,282 shares during the last quarter. 96.11% of the stock is owned by hedge funds and other institutional investors.

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.