First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock Has Consensus Price Target of $17.90

Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) have been given a consensus recommendation of “Buy” by the twelve analysts that are currently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $17.90.

A number of analysts have recently weighed in on FWRG shares. Raymond James Financial lowered their target price on First Watch Restaurant Group from $20.00 to $18.00 and set a “strong-buy” rating for the company in a research note on Friday, October 16th. Citigroup reduced their price target on shares of First Watch Restaurant Group from $20.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, October 21st. Stephens decreased their price objective on shares of First Watch Restaurant Group from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Thursday, October 15th. Wall Street Zen upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, DA Davidson lowered their price objective on shares of First Watch Restaurant Group from $17.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, October 2nd.

First Watch Restaurant Group Stock Up 1.8%

First Watch Restaurant Group stock opened at $12.74 on Friday. The firm has a market cap of $786.19 million, a price-to-earnings ratio of 43.93, a P/E/G ratio of 57.54 and a beta of 1.05. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.27 and a quick ratio of 0.22. First Watch Restaurant Group has a fifty-two week low of $9.88 and a fifty-two week high of $18.77. The firm has a fifty day moving average price of $11.37 and a two-hundred day moving average price of $12.47.

First Watch Restaurant Group (NASDAQ:FWRG) last released its earnings results on Tuesday, August 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $354.67 million during the quarter, compared to the consensus estimate of $351.57 million. First Watch Restaurant Group had a net margin of 1.35% and a return on equity of 2.85%. The firm’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 EPS. As a group, analysts forecast that First Watch Restaurant Group will post 0.14 earnings per share for the current year.

Hedge Funds Weigh In On First Watch Restaurant Group

Several institutional investors and hedge funds have recently modified their holdings of FWRG. Schwartz Investment Counsel Inc. raised its holdings in shares of First Watch Restaurant Group by 47.7% during the 3rd quarter. Schwartz Investment Counsel Inc. now owns 18,875 shares of the company’s stock worth $192,000 after buying an additional 6,100 shares in the last quarter. Access Investment Management LLC boosted its stake in First Watch Restaurant Group by 2.3% in the third quarter. Access Investment Management LLC now owns 217,609 shares of the company’s stock valued at $2,213,000 after buying an additional 4,890 shares in the last quarter. Wavvest Wealth LLC acquired a new stake in First Watch Restaurant Group in the third quarter valued at about $412,000. State of Alaska Department of Revenue acquired a new stake in First Watch Restaurant Group in the third quarter valued at about $32,000. Finally, Engineers Gate Manager LP grew its position in First Watch Restaurant Group by 16.1% in the second quarter. Engineers Gate Manager LP now owns 29,200 shares of the company’s stock valued at $376,000 after acquiring an additional 4,050 shares during the last quarter. 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 operates a daytime-focused restaurant concept serving breakfast, brunch and lunch. Its restaurants offer made-to-order meals such as omelets, pancakes, French toast, sandwiches, salads and bowls, along with fresh juices, coffee and other beverages. The company generally does not serve dinner, positioning its restaurants around the daytime dining occasion.

First Watch restaurants emphasize fresh preparation and seasonal menu offerings, including items made with eggs, fruits, vegetables and other ingredients prepared in the restaurant.