Analysts Set First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Target Price at $20.91

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) has earned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $20.9091.

A number of brokerages have recently issued reports on FWRG. Wall Street Zen raised First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Barclays lowered their target price on First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. Finally, Zacks Research upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th.

First Watch Restaurant Group Stock Performance

NASDAQ FWRG opened at $15.63 on Tuesday. The firm has a market cap of $953.90 million, a P/E ratio of 195.40, a P/E/G ratio of 2.91 and a beta of 0.88. The company has a quick ratio of 0.21, a current ratio of 0.25 and a debt-to-equity ratio of 0.41. The business’s 50-day moving average price is $16.17 and its 200 day moving average price is $16.90. First Watch Restaurant Group has a 52-week low of $12.90 and a 52-week high of $21.99.

Insider Transactions at First Watch Restaurant Group

In other news, Director William A. Kussell sold 6,165 shares of the business’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $17.00, for a total value of $104,805.00. Following the completion of the transaction, the director owned 26,402 shares of the company’s stock, valued at $448,834. The trade was a 18.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On First Watch Restaurant Group

Hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc grew its stake in shares of First Watch Restaurant Group by 1.6% in the second quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock valued at $730,000 after buying an additional 724 shares in the last quarter. California State Teachers Retirement System boosted its holdings in First Watch Restaurant Group by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 46,092 shares of the company’s stock worth $695,000 after acquiring an additional 832 shares during the period. PNC Financial Services Group Inc. grew its position in First Watch Restaurant Group by 4.2% in the third quarter. PNC Financial Services Group Inc. now owns 23,016 shares of the company’s stock valued at $360,000 after acquiring an additional 934 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of First Watch Restaurant Group by 207.6% during the second quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock valued at $31,000 after purchasing an additional 1,316 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey lifted its position in shares of First Watch Restaurant Group by 17.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,108 shares of the company’s stock worth $146,000 after purchasing an additional 1,341 shares in the last quarter. 96.11% of the stock is owned by institutional investors and hedge funds.

About First Watch Restaurant Group

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.