First Watch Restaurant Group (NASDAQ:FWRG) Stock Price Expected to Rise, Stephens Analyst Says

First Watch Restaurant Group (NASDAQ:FWRG) had its price target lifted by investment analysts at Stephens from $20.00 to $25.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Stephens’ target price would indicate a potential upside of 18.65% from the stock’s current price.

Other equities analysts have also issued research reports about the company. TD Cowen reissued a “hold” rating and issued a $18.00 price objective on shares of First Watch Restaurant Group in a research note on Thursday, September 12th. Bank of America lowered their target price on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Benchmark restated a “buy” rating and issued a $23.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Barclays dropped their price objective on First Watch Restaurant Group from $21.00 to $18.00 and set an “overweight” rating for the company in a report on Tuesday, October 22nd. Finally, Guggenheim decreased their target price on First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, First Watch Restaurant Group currently has an average rating of “Moderate Buy” and a consensus price target of $23.33.

First Watch Restaurant Group Stock Up 1.2 %

Shares of First Watch Restaurant Group stock traded up $0.24 during midday trading on Friday, reaching $21.07. 927,416 shares of the company’s stock traded hands, compared to its average volume of 554,420. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 54.03, a price-to-earnings-growth ratio of 5.09 and a beta of 0.85. First Watch Restaurant Group has a 52 week low of $12.90 and a 52 week high of $25.98. The company’s 50 day simple moving average is $15.91 and its 200 day simple moving average is $17.37. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.57.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). First Watch Restaurant Group had a net margin of 2.51% and a return on equity of 4.24%. The company had revenue of $251.61 million for the quarter, compared to analyst estimates of $256.17 million. During the same period in the prior year, the company posted $0.09 EPS. The business’s revenue was up 14.8% on a year-over-year basis. Equities analysts expect that First Watch Restaurant Group will post 0.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On First Watch Restaurant Group

A number of large investors have recently bought and sold shares of the stock. 1832 Asset Management L.P. purchased a new stake in shares of First Watch Restaurant Group during the 1st quarter worth approximately $3,333,000. Nicholas Investment Partners LP bought a new stake in First Watch Restaurant Group during the second quarter valued at approximately $3,391,000. Deepwater Asset Management LLC increased its stake in First Watch Restaurant Group by 68.5% in the second quarter. Deepwater Asset Management LLC now owns 695,649 shares of the company’s stock valued at $12,216,000 after acquiring an additional 282,765 shares during the last quarter. Primoris Wealth Advisors LLC purchased a new stake in First Watch Restaurant Group in the first quarter worth approximately $1,788,000. Finally, California State Teachers Retirement System increased its holdings in shares of First Watch Restaurant Group by 15.6% in the first quarter. California State Teachers Retirement System now owns 31,822 shares of the company’s stock worth $783,000 after buying an additional 4,294 shares during the period. 96.11% of the stock is currently owned by institutional investors and hedge funds.

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.