First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Given Consensus Recommendation of "Moderate Buy" by Analysts
First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the ten research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $22.27.
A number of equities analysts recently commented on FWRG shares. Benchmark reissued a "buy" rating on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Barclays reiterated an "overweight" rating and set a $21.00 target price (down from $24.00) on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Bank of America upped their price target on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, March 12th. TD Securities reissued a "hold" rating and issued a $21.00 price objective on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Finally, Stephens restated an "overweight" rating and set a $24.00 target price on shares of First Watch Restaurant Group in a research report on Thursday, March 20th.
Read Our Latest Research Report on First Watch Restaurant Group
First Watch Restaurant Group stock opened at $16.86 on Friday. First Watch Restaurant Group has a 1 year low of $12.90 and a 1 year high of $25.98. The firm's 50 day moving average price is $19.36 and its 200-day moving average price is $18.15. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. The stock has a market cap of $1.02 billion, a P/E ratio of 51.09, a PEG ratio of 3.38 and a beta of 0.91.
First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The company had revenue of $263.30 million during the quarter, compared to the consensus estimate of $262.82 million. During the same quarter in the prior year, the firm posted $0.04 earnings per share. The business's revenue was up 7.6% on a year-over-year basis. On average, equities analysts predict that First Watch Restaurant Group will post 0.32 earnings per share for the current fiscal year.
In other news, insider Jay Anthony Wolszczak sold 5,743 shares of First Watch Restaurant Group stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $96,539.83. Following the completion of the sale, the insider now directly owns 37,768 shares in the company, valued at approximately $634,880.08. This trade represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $706,675.59. Following the sale, the chief executive officer now directly owns 389,832 shares of the company's stock, valued at $6,553,075.92. This represents a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of First Watch Restaurant Group by 4.2% during the fourth quarter. Wellington Management Group LLP now owns 847,870 shares of the company's stock valued at $15,779,000 after acquiring an additional 34,200 shares in the last quarter. California State Teachers Retirement System raised its position in First Watch Restaurant Group by 23.9% during the 4th quarter. California State Teachers Retirement System now owns 38,653 shares of the company's stock valued at $719,000 after purchasing an additional 7,467 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in First Watch Restaurant Group during the 4th quarter valued at $377,000. Squarepoint Ops LLC lifted its holdings in shares of First Watch Restaurant Group by 42.8% in the 4th quarter. Squarepoint Ops LLC now owns 243,101 shares of the company's stock worth $4,524,000 after buying an additional 72,829 shares during the period. Finally, Two Sigma Advisers LP bought a new position in shares of First Watch Restaurant Group during the 4th quarter worth $947,000. 96.11% of the stock is currently owned by institutional investors.
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.
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