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

First Watch Restaurant Group (NASDAQ:FWRG) had its target price lifted by Stephens from $20.00 to $25.00 in a research note released on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Other equities analysts have also recently issued research reports about the company. TD Cowen reaffirmed a “hold” rating and set a $18.00 target price on shares of First Watch Restaurant Group in a research note on Thursday, September 12th. Benchmark reissued a “buy” rating and issued a $23.00 price target on shares of First Watch Restaurant Group in a research note on Wednesday, October 16th. Guggenheim lowered their price target on First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Barclays reduced their target price 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, Bank of America cut their price target on 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. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $23.33.

First Watch Restaurant Group Price Performance

First Watch Restaurant Group stock traded up $0.24 during midday trading on Friday, hitting $21.07. The company’s stock had a trading volume of 927,416 shares, compared to its average volume of 554,420. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. The stock’s 50-day moving average price is $15.91 and its 200-day moving average price is $17.41. First Watch Restaurant Group has a 12 month low of $12.90 and a 12 month high of $25.98. The company has a market capitalization of $1.27 billion, a PE ratio of 54.03, a price-to-earnings-growth ratio of 5.09 and a beta of 0.85.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The company had revenue of $251.61 million during the quarter, compared to analysts’ expectations of $256.17 million. First Watch Restaurant Group had a return on equity of 4.24% and a net margin of 2.51%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 EPS. Analysts anticipate 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

Several large investors have recently bought and sold shares of the company. Commerce Bank bought a new stake in First Watch Restaurant Group in the third quarter valued at approximately $208,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of First Watch Restaurant Group during the third quarter worth $1,566,000. Mutual of America Capital Management LLC bought a new stake in shares of First Watch Restaurant Group during the third quarter worth $5,757,000. Versor Investments LP bought a new stake in shares of First Watch Restaurant Group during the third quarter worth $201,000. Finally, Rocky Mountain Advisers LLC increased its position in shares of First Watch Restaurant Group by 180.1% during the third quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock worth $103,000 after acquiring an additional 4,250 shares in the last quarter. Institutional investors own 96.11% of the company’s stock.

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.