First Watch Restaurant Group’s (FWRG) “Hold” Rating Reiterated at TD Securities

First Watch Restaurant Group (NASDAQ:FWRG)‘s stock had its “hold” rating reiterated by equities research analysts at TD Securities in a research note issued on Wednesday,Benzinga reports. They presently have a $21.00 price objective on the stock. TD Securities’ price target suggests a potential upside of 24.78% from the stock’s current price.

Separately, Stephens reiterated an “overweight” rating and set a $25.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.20.

First Watch Restaurant Group Stock Down 7.0 %

FWRG opened at $16.83 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $19.92 and its 200 day simple moving average is $18.14. First Watch Restaurant Group has a 1-year low of $12.90 and a 1-year high of $25.98. The stock has a market cap of $1.02 billion, a PE ratio of 51.00, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $263.30 million during the quarter, compared to the consensus estimate of $262.82 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.04 earnings per share. As a group, research analysts expect that First Watch Restaurant Group will post 0.32 earnings per share for the current year.

Institutional Trading of First Watch Restaurant Group

Large investors have recently modified their holdings of the stock. Lazard Asset Management LLC bought a new position in shares of First Watch Restaurant Group during the 4th quarter worth about $39,095,000. Champlain Investment Partners LLC grew its stake in First Watch Restaurant Group by 59.0% in the fourth quarter. Champlain Investment Partners LLC now owns 2,582,303 shares of the company’s stock valued at $48,057,000 after acquiring an additional 958,417 shares during the period. Mesirow Institutional Investment Management Inc. bought a new stake in shares of First Watch Restaurant Group during the fourth quarter valued at approximately $15,506,000. Clearbridge Investments LLC acquired a new position in shares of First Watch Restaurant Group during the fourth quarter worth approximately $12,732,000. Finally, Vanguard Group Inc. lifted its holdings in shares of First Watch Restaurant Group by 25.6% in the 4th quarter. Vanguard Group Inc. now owns 2,351,614 shares of the company’s stock worth $43,764,000 after purchasing an additional 479,741 shares in the last quarter. Institutional investors and hedge funds 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.