First Watch Restaurant Group (NASDAQ:FWRG) Now Covered by Analysts at Stephens

Stephens initiated coverage on shares of First Watch Restaurant Group (NASDAQ:FWRG) in a report issued on Thursday, MarketBeat.com reports. The firm issued an overweight rating and a $20.00 price objective on the stock.

Several other equities analysts also recently commented on FWRG. Guggenheim lowered their price target on First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Barclays reduced their price objective on First Watch Restaurant Group from $27.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus cut their target price on shares of First Watch Restaurant Group from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, July 2nd. TD Cowen restated a “hold” rating and issued a $18.00 price target on shares of First Watch Restaurant Group in a research report on Thursday, September 12th. Finally, Benchmark reaffirmed a “buy” rating and set a $23.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, First Watch Restaurant Group has an average rating of “Moderate Buy” and an average target price of $22.33.

First Watch Restaurant Group Stock Up 10.5 %

FWRG stock opened at $16.54 on Thursday. The company has a 50 day moving average of $15.62 and a two-hundred day moving average of $18.00. The company has a quick ratio of 0.52, a current ratio of 0.57 and a debt-to-equity ratio of 0.33. 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 cap of $998.57 million, a price-to-earnings ratio of 43.53, a PEG ratio of 2.09 and a beta of 0.87.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results on Tuesday, August 6th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The firm had revenue of $258.60 million for the quarter, compared to the consensus estimate of $257.65 million. First Watch Restaurant Group had a return on equity of 4.24% and a net margin of 2.51%. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 earnings per share. On average, equities analysts anticipate that First Watch Restaurant Group will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of First Watch Restaurant Group

Several institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in First Watch Restaurant Group by 5.8% during the fourth quarter. Wellington Management Group LLP now owns 401,062 shares of the company’s stock worth $8,061,000 after buying an additional 22,024 shares during the last quarter. Sunbelt Securities Inc. bought a new position in First Watch Restaurant Group in the 1st quarter valued at $65,000. LVW Advisors LLC acquired a new position in First Watch Restaurant Group in the first quarter worth $227,000. Deepwater Asset Management LLC increased its stake in shares of First Watch Restaurant Group by 275.3% in the first quarter. Deepwater Asset Management LLC now owns 412,884 shares of the company’s stock valued at $10,165,000 after buying an additional 302,878 shares in the last quarter. Finally, Capstone Investment Advisors LLC bought a new position in shares of First Watch Restaurant Group in the first quarter valued at about $926,000. Institutional investors and hedge funds own 96.11% of the company’s stock.

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.