First Watch Restaurant Group’s (FWRG) “Overweight” Rating Reiterated at Stephens

Stephens reaffirmed their overweight rating on shares of First Watch Restaurant Group (NASDAQ:FWRG) in a research note issued to investors on Tuesday,Benzinga reports. Stephens currently has a $25.00 price objective on the stock.

Other equities research analysts also recently issued reports about the stock. Barclays lifted their target price on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Guggenheim dropped their price target on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Piper Sandler boosted their price target on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. TD Cowen boosted their price target on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, Benchmark restated a “buy” rating and issued a $23.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.30.

First Watch Restaurant Group Stock Up 2.9 %

NASDAQ:FWRG opened at $21.23 on Tuesday. The firm’s 50 day simple moving average is $19.01 and its 200 day simple moving average is $17.20. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. First Watch Restaurant Group has a one year low of $12.90 and a one year high of $25.98. The company has a market cap of $1.29 billion, a PE ratio of 64.34, a P/E/G ratio of 3.90 and a beta of 0.89.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The business had revenue of $251.61 million for the quarter, compared to analyst estimates of $256.17 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. On average, research analysts anticipate that First Watch Restaurant Group will post 0.31 earnings per share for the current year.

Insider Activity

In other First Watch Restaurant Group news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $19.76, for a total transaction of $158,080,000.00. Following the completion of the sale, the insider now owns 19,189,784 shares in the company, valued at approximately $379,190,131.84. The trade was a 29.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.00% of the stock is currently owned by company insiders.

Institutional Trading of First Watch Restaurant Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Rocky Mountain Advisers LLC increased its stake in First Watch Restaurant Group by 180.1% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock valued at $103,000 after purchasing an additional 4,250 shares in the last quarter. SG Americas Securities LLC bought a new stake in First Watch Restaurant Group during the 3rd quarter valued at $119,000. XTX Topco Ltd bought a new stake in First Watch Restaurant Group during the 3rd quarter valued at $157,000. Versor Investments LP bought a new stake in First Watch Restaurant Group during the 3rd quarter valued at $201,000. Finally, Commerce Bank bought a new stake in First Watch Restaurant Group during the 3rd quarter valued at $208,000. 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.