Investment Analysts’ Recent Ratings Changes for First Watch Restaurant Group (FWRG)

A number of research firms have changed their ratings and price targets for First Watch Restaurant Group (NASDAQ: FWRG):

• 10/22/2024 – First Watch Restaurant Group had its price target lowered by analysts at Barclays PLC from $21.00 to $18.00. They now have an “overweight” rating on the stock.
• 10/17/2024 – First Watch Restaurant Group is now covered by analysts at Stephens. They set an “overweight” rating and a $20.00 price target on the stock.
• 10/16/2024 – First Watch Restaurant Group had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $23.00 price target on the stock.
• 10/4/2024 – First Watch Restaurant Group had its price target lowered by analysts at Guggenheim from $24.00 to $20.00. They now have a “buy” rating on the stock.
• 9/12/2024 – First Watch Restaurant Group had its “hold” rating reaffirmed by analysts at TD Cowen. They now have a $18.00 price target on the stock.
• 8/27/2024 – First Watch Restaurant Group is now covered by analysts at Benchmark Co.. They set a “buy” rating and a $23.00 price target on the stock.

First Watch Restaurant Group Stock Up 1.9 %

Shares of FWRG stock traded up $0.31 during mid-day trading on Friday, reaching $16.84. 210,004 shares of the company’s stock traded hands, compared to its average volume of 576,825. First Watch Restaurant Group, Inc. has a 12 month low of $12.90 and a 12 month high of $25.98. The company has a market cap of $1.02 billion, a P/E ratio of 44.32, a P/E/G ratio of 2.09 and a beta of 0.87. 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 company’s 50-day moving average price is $15.68 and its 200-day moving average price is $17.77.

First Watch Restaurant Group (NASDAQ:FWRG) last announced 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. First Watch Restaurant Group had a net margin of 2.51% and a return on equity of 4.24%. The firm had revenue of $258.60 million for the quarter, compared to analysts’ expectations of $257.65 million. During the same quarter in the previous year, the business posted $0.13 EPS. The company’s quarterly revenue was up 19.6% on a year-over-year basis. On average, equities analysts expect that First Watch Restaurant Group, Inc. will post 0.34 earnings per share for the current fiscal year.

Institutional Trading of First Watch Restaurant Group

A number of hedge funds have recently modified their holdings of FWRG. Vanguard Group Inc. boosted its stake in First Watch Restaurant Group by 18.8% in the 1st quarter. Vanguard Group Inc. now owns 1,611,452 shares of the company’s stock worth $39,674,000 after purchasing an additional 255,307 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in First Watch Restaurant Group by 15.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,385,972 shares of the company’s stock worth $24,338,000 after purchasing an additional 189,740 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in First Watch Restaurant Group by 26.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,340,819 shares of the company’s stock worth $23,545,000 after purchasing an additional 281,056 shares in the last quarter. Deepwater Asset Management LLC boosted its stake in First Watch Restaurant Group by 15.4% in the 3rd quarter. Deepwater Asset Management LLC now owns 802,625 shares of the company’s stock worth $12,521,000 after purchasing an additional 106,976 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in First Watch Restaurant Group by 17.1% in the 1st quarter. Capital Research Global Investors now owns 776,545 shares of the company’s stock worth $19,119,000 after purchasing an additional 113,555 shares in the last quarter. Institutional investors own 96.11% of the company’s stock.

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.