First Watch Restaurant Group (NASDAQ:FWRG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of First Watch Restaurant Group (NASDAQ:FWRG) from a strong sell rating to a sell rating in a report published on Saturday.

Other analysts have also recently issued reports about the stock. Citigroup decreased their target price on shares of First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. DA Davidson reissued a “buy” rating and set a $17.00 price objective on shares of First Watch Restaurant Group in a research note on Tuesday, April 28th. Weiss Ratings upgraded First Watch Restaurant Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, August 4th. Stephens reaffirmed an “overweight” rating and issued a $21.00 price objective on shares of First Watch Restaurant Group in a research note on Wednesday, May 6th. Finally, Guggenheim dropped their target price on First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating for the company in a report on Friday. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.56.

First Watch Restaurant Group Trading Down 3.1%

Shares of First Watch Restaurant Group stock opened at $12.03 on Friday. First Watch Restaurant Group has a twelve month low of $9.97 and a twelve month high of $19.53. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.44. The business has a 50-day moving average price of $12.13 and a 200-day moving average price of $12.71. The firm has a market cap of $742.37 million, a price-to-earnings ratio of 41.48, a PEG ratio of 20.70 and a beta of 1.03.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its earnings results on Tuesday, August 4th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01). The firm had revenue of $354.67 million during the quarter, compared to analysts’ expectations of $351.57 million. First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.35%.First Watch Restaurant Group’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. Equities research analysts anticipate that First Watch Restaurant Group will post 0.15 EPS for the current fiscal year.

Hedge Funds Weigh In On First Watch Restaurant Group

Several hedge funds have recently added to or reduced their stakes in the company. Royce & Associates LP purchased a new stake in shares of First Watch Restaurant Group during the fourth quarter valued at $2,006,000. Riverbridge Partners LLC increased its stake in First Watch Restaurant Group by 90.8% in the 1st quarter. Riverbridge Partners LLC now owns 2,091,700 shares of the company’s stock worth $21,921,000 after buying an additional 995,671 shares during the period. Stephens Investment Management Group LLC lifted its holdings in First Watch Restaurant Group by 46.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 1,367,051 shares of the company’s stock valued at $20,615,000 after buying an additional 434,987 shares in the last quarter. Vanguard Group Inc. lifted its holdings in First Watch Restaurant Group by 15.0% during the 4th quarter. Vanguard Group Inc. now owns 3,320,929 shares of the company’s stock valued at $50,080,000 after buying an additional 432,634 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its position in First Watch Restaurant Group by 18.1% in the 4th quarter. GW&K Investment Management LLC now owns 2,032,631 shares of the company’s stock valued at $30,653,000 after buying an additional 311,938 shares during the period. 96.11% of the stock is currently owned by institutional investors.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.