Analysts Set First Watch Restaurant Group, Inc. (NASDAQ:FWRG) PT at $24.83

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has earned an average rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $24.83.

A number of research analysts have weighed in on FWRG shares. Citigroup boosted their target price on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Stifel Nicolaus raised their price target on First Watch Restaurant Group from $20.00 to $22.00 and gave the stock a “hold” rating in a report on Wednesday, March 6th. TD Cowen dropped their price objective on First Watch Restaurant Group from $25.00 to $21.00 and set a “hold” rating on the stock in a report on Thursday, June 13th. Finally, Barclays reduced their price objective on shares of First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th.

Insider Buying and Selling at First Watch Restaurant Group

In related news, Director William A. Kussell sold 8,386 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $22.10, for a total value of $185,330.60. Following the sale, the director now directly owns 12,409 shares of the company’s stock, valued at $274,238.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On First Watch Restaurant Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale purchased a new position in shares of First Watch Restaurant Group during the third quarter valued at about $35,000. Sunbelt Securities Inc. bought a new position in shares of First Watch Restaurant Group during the first quarter valued at $65,000. iA Global Asset Management Inc. bought a new stake in First Watch Restaurant Group during the 3rd quarter valued at about $95,000. Quent Capital LLC bought a new stake in shares of First Watch Restaurant Group during the first quarter valued at approximately $172,000. Finally, AXQ Capital LP purchased a new position in shares of First Watch Restaurant Group in the third quarter worth $183,000. Institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Trading Down 3.5 %

NASDAQ:FWRG opened at $16.95 on Thursday. First Watch Restaurant Group has a 52 week low of $16.19 and a 52 week high of $25.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.55 and a current ratio of 0.60. The firm’s fifty day moving average is $20.09 and its 200-day moving average is $21.57. The firm has a market cap of $1.02 billion, a P/E ratio of 44.61, a P/E/G ratio of 2.25 and a beta of 0.88.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $242.40 million during the quarter, compared to analyst estimates of $245.03 million. First Watch Restaurant Group had a net margin of 2.52% and a return on equity of 4.15%. First Watch Restaurant Group’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.15 EPS. Equities analysts expect that First Watch Restaurant Group will post 0.39 earnings per share for the current year.

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.